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501 Lutz rd - The Vista at Wittenberg 56 Unit Apartment Building Offered at $11,900,000 at a 6.13% Cap Rate Bloomington, IL 61704
Executive Summary
Introducing an exciting new multifamily community coming to Bloomington, new construction in 2026 - The Vista at Wittenberg, located at 501 Lutz Road. Thoughtfully planned, all development and site work have already been completed, providing a streamlined path to construction and delivery.
This 56-unit development will offer a balanced mix of modern living spaces, including 16 spacious 1-bedroom units and 40 well-designed 2-bedroom units, ideal for residents seeking convenience, comfort, and style. Interior features of the units include LVT flooring, granite countertops and upscale appliances, along with a designated in-home office space.
The Vista at Wittenberg development offers an attractive opportunity for future residents and multifamily investors alike.
Disclaimer: All photos and floor plans are conceptual renderings. Actual building design, finishes, and layouts may differ.
This 56-unit development will offer a balanced mix of modern living spaces, including 16 spacious 1-bedroom units and 40 well-designed 2-bedroom units, ideal for residents seeking convenience, comfort, and style. Interior features of the units include LVT flooring, granite countertops and upscale appliances, along with a designated in-home office space.
The Vista at Wittenberg development offers an attractive opportunity for future residents and multifamily investors alike.
Disclaimer: All photos and floor plans are conceptual renderings. Actual building design, finishes, and layouts may differ.
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | $1,550 | - |
| 2+1 | 40 | $1,850 | - |
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Property Taxes
| Parcel Number | 21-17-451-007 | Improvements Assessment | $0 (2024) |
| Land Assessment | $1,759 (2024) | Total Assessment | $1,759 (2024) |
Property Taxes
Parcel Number
21-17-451-007
Land Assessment
$1,759 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$1,759 (2024)
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501 Lutz rd - The Vista at Wittenberg
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