This building was purchased in June 2009 as a heavily distressed property. Out of 60 units, 22 were occupied at the time of acquisition with issue tenants. Building was purchased from the bank after having been foreclosed on. Building had an extremely poor reputation in the Rockford community and contributed to the degradation of the neighborhood.
Once Orange Properties took over, we worked with the city to re-brand the building’s image. Our team participated in community development events, which promoted the the newly renovated apartment building. Orange Properties remodeled most of the apartments, changed all the windows in the building and freshened up the landscaping. The Management team then evicted the remaining problematic tenants and has enjoyed 95%+ occupancy rate over the last two years.