Senior Project-Based Section 8 Sale-Northridge-Village-Section-8-HAP-Contract-Taylorville-Illinois

Senior Project-Based Section 8 Sale in Illinois

On September 9th, AHIB completed a senior project-based Section 8 sale in Illinois. The property, Northridge Village, is a 24 unit complex operating with all units covered by an Option 4, exception rent HAP contract. The Seller was a family business that was the original developer of the property. They were referred to AHIB by another broker after trying to get an offer from a national Section 8 buyer. When they couldn’t make the deal, the buyer recommend AHIB [...]

September 12, 2016 By Sell HAP Contract Property, Sell Section 8 Property, Sell Subsidized Property Comments Off
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Elderly RAD II HAP Sale -Eastcourt-Village-HAP-Contract-RAD-II-HUD-236-Kankakee-Illinois

Elderly RAD II HAP Sale 60 Miles From Chicago

On September 1st, AHIB closed on an elderly RAD II HAP sale 60 miles from Chicago. The Eastcourt Village apartments in Kankakee, Illinois, have 133 units designated for elderly tenants, with a Project-Based Section 8 Contract (HAP contract) covering 90% of the property. AHIB worked with the seller over a period of several years, helping to convert the original Rent Supplement contract through a RAD II conversion to the Section 8 program. Legal counsel from Nixon Peabody prepared the [...]

September 6, 2016 By Sell HAP Contract Property, Sell RAD Property, Sell Section 8 Property, Sell Subsidized Property Comments Off
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