CHICAGO — September 20, 2021 — Berkadia announced today the $39.15 million sale of Traditions Bloomington, a 396-unit garden-style multifamily property in Bloomington, Illinois. Managing Director Ralph DePasquale of Berkadia Chicago, and Senior Managing Directors Jeff Irish and Brandon Grisham of Berkadia Affordable Housing, completed the sale on behalf of the seller, Minnesota-based Dominium. The buyer was Georgia-based Traditions Harmony Housing LLC, and the deal closed on July 28.
“Dominium did an outstanding job upgrading the property and amenities since acquiring the property,” said DePasquale. “It was easy to see why we had tremendous interest from numerous buyers, both conventional and affordable. The new ownership will be able to take advantage of those upgrades as that market continues to grow.”
Located at 901 Valley View Circle, Traditions Bloomington features one-bedroom floor plans with walk-in closets, air conditioning and a private balcony or patio. Community amenities include a fitness center, a business center, a conference room, two swimming pools, community playgrounds and an outdoor grilling area. The property affords convenient access to Eastland Mall, Interstate 74 and the shops and restaurants along While Oak Road.