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**Transcend Development Group Acquires West Pullman’s Indian Trails Apartments; Plans $25M Renovation**
California-based real estate development and investment firm Transcend Development Group has purchased the Indian Trails Apartments, a 180-unit multifamily complex located at 221 E. 121st Street in the West Pullman neighborhood of Chicago. The acquisition totaled $21 million, with an additional $25 million planned for a comprehensive renovation of the property.
Built in 1971, Indian Trails Apartments consist of 180 residential units spread across three five-story buildings situated on a five-acre site. The forthcoming redevelopment, set to begin this spring, will feature full unit renovations including new kitchens and bathrooms, vinyl tile flooring, and updated electrical systems. Building-wide improvements will also be made, including new roofs, windows, exterior doors, and enhanced energy efficiency measures.
The project is being financed through a combination of Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and both public and private investments. Key financing partners include the City of Chicago, the U.S. Department of Housing and Urban Development (HUD), and Huntington Bank.
Transcend Development Group was represented in the acquisition by Doug Childers of JLL, while the seller, Sausage King of Chicago, was represented by Marcus & Millichap.
This redevelopment underscores Transcend’s commitment to preserving and enhancing affordable housing across urban communities.
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