River Run

Nestled in the heart of Macomb, IL, River Run offers a peaceful and welcoming community for multifamily and low-rise/garden investors. Residents can take advantage of the nearby Glenwood Park, where they can enjoy serene walking paths and recreational facilities. Just a short drive away is downtown Macomb, featuring charming local shops, cozy cafes, and a variety of dining options. The area is also home to Western Illinois University, providing a vibrant atmosphere and potential student housing opportunities. With its blend of natural beauty and convenient access to essential amenities, River Run presents a compelling investment prospect for those seeking a thriving and engaging residential community.Performance Real Estate Advisors is pleased to present an exclusive new offering known as River Run Apartments. The community is comprised of 100 units, all designated for family living. Floorplans include spacious one-, two-, and three-bedrooms, ideal for families of all sizes. Entrances to every home are private and include either a patio or balcony. 68% of the Property is covered under a Project-Based Section 8 HAP Contract administered by the Menard County Housing Authority and not set to expire until 2030, while at least 40% of the Property is rented to tenants whose income does not exceed 60% of median income for McDonough County. The community remains highly occupied and well-maintained. The HAP units were recently approved for a sizeable rent increase and there are several additional paths to upside potential including rent growth on LIHTC units, voucher tenants, and operational efficiencies.