1850 Lake Street

Kewanee, Illinois 61443

Prairie Green Apartments is a 50-Unit apartment complex located in Kewanee, Illinois. The property is a LIHTC (low income housing tax credit) property that is administered by the IHDA (Illinois Housing Development Authority). The property consists of three buildings which are comprised of twenty (2)-bedroom / (2)-bathroom apartments, and thirty (3)-bedroom / (2.5)-bathroom town homes each with attached garage. The three buildings combined measure 72,000 square feet. The property was constructed in 2003 and each unit include separate hot water heaters, individual HVAC units, large spacious layouts (1800 sq. ft. for (3)- bedroom units, 975 sq. ft. for (2)-bedroom units) and laundry hook-ups. Prairie Green Apartments already has a full-time manager and maintenance man on the premises. The facility has an on-site office, maintenance shop, and a community room for use by the tenants. The complex is currently 98% occupied and has traditionally enjoyed high occupancy rates. Prairie Green Apartments are located in a federal Opportunity Zone. An Opportunity Zone is an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives. Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act, to stimulate economic development and job creation, by incentivizing long- term investments in low-income neighborhoods.