Multifamily N Illinois

Mercy Housing Inc. acquires 33 properties from Franciscan Ministries, Inc., grows portfolio by 20 percent

Mercy Housing, Inc. recently accepted the transfer of 3,666 affordable units from Franciscan Ministries, Inc. Once the acquisition is complete, Mercy Housing’s holdings in Illinois will increase from 25 properties to 36.

Mercy Housing, Inc. recently accepted the transfer of 3,666 affordable units from Franciscan Ministries, Inc. Once the acquisition is complete, Mercy Housing’s holdings in Illinois will increase from 25 properties to 36.

The properties to be transferred include Batavia Apartments in Batavia; Constitution House in Aurora; LaSalle Manor in LaSalle; Assisi Homes of Gurnee in Gurnee; Colony Park in Carol Stream; Colonnade Apartments in Effingham; Highland Manor and Sanders Apartments in Moline; and Assisi Homes of Illinois, Canticle Place, and Marian Park in Wheaton.

Each property will be transferred following the approval of the United States Department of Housing and Urban Development (HUD). All properties are expected to be transferred within the next six months.

The transfer of the ownership and management of these 33 properties will increase Mercy Housing’s portfolio by 20 percent, and will strengthen Mercy Housing’s mission and footprint.

The 33 properties are located in Arizona, Colorado, Florida, Kentucky, Iowa, Illinois, Indiana, South Carolina, Texas, and Wisconsin, many states in which the nonprofit already operates.

The transition of Franciscan Ministries’ properties to Mercy Housing occurred in conjunction with the Wheaton Franciscan Sisters’ transfer of their healthcare ministries: the Iowan entities to Mercy Health Network; the Southeast Wisconsin entities to Ascension; and Marionjoy Rehabilitation Hospital in Illinois to Northwestern Medicine.