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Empire
Silvis, IL
Low Fees. Secure Transactions
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+ 109
Target Returns
13.49%
Target IRR
4.95%
Target CoC
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27-unit
Multifamily

Long-term
rental

Community icon

Leasing-up

Walkable

Highlights
Get to know
Empire
  • 27-unit multifamily apartment
  • Targeting niche audience of active senior’s
  • Ground-up development, currently leasing up
  • Units are currently operating
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About
A luxury lifestyle
community
About Empire
Empire offers active seniors a better way of living: a flexible, worry-free lifestyle, access to a wide range of first-class amenities, and the opportunity to be part of a vibrant, active peer community.

This exceptional community offers seniors the advantages they want, without the concerns, expenses, and maintenance responsibilities of typical home ownership or the cost of assisted living facilities.
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Business Plan
Create the market for active senior living

Empire is a 22,901 square foot ground-up new development situated on a 2.81-acre site. The Sponsor finished construction and has begun leasing up the property. In total, Empire has 27 physical units split up across fifteen (15) one-bedroom units, twelve (12) two-bedroom units, and twenty-seven (27) garages.


To the Sponsor’s knowledge, Empire is the only senior living product available in the market and will establish the market rate for this specific target niche. In addition, the target tenant is retired and likely transitioning to renting from homeownership. The Sponsor seeks to strategically appeal to adults seeking a more worry-free lifestyle, first-class amenities, and an active peer community. 

Market Data
The Quad Cities 

The Property is located in Silvis, Illinois. It is 165 miles from both Des Moines, Iowa and Chicago, Illinois. Silvis is also part of a larger metropolitan area known as the Quad Cities, an area situated across four counties in Illinois and Iowa. The location of Silvis allows for easy access to major metropolitan areas including Minneapolis, Omaha, Kansas City, St. Louis, Milwaukee, and Indianapolis giving Silvis daily access to millions of people and thousands of businesses. Silvis has easy access to both rail and interstate infrastructure, two major medical centers, and several community college/university districts.

Key Metrics
+3.0%
Estimated Rent Growth
~4%
Avg. Vacancy
+3.2%
Estimated AMI Growth
View Offering Circular Data

The Quad Cities hosts more than 30,000 businesses, including Deere & Company World Headquarters, 3M, Alcoa, and the Rock Island Arsenal. The immediate neighborhood for the development contains many entities that would support and complement a senior living development. It includes healthcare providers, shopping, and some market-rate housing options.

Per Moody’s/REIS, income and asking rents are expected to increase annually for the next five years, an estimated 3.2% and 3.0%, respectively. Additionally, vacancy is expected to remain constant in the market, at ~4%. To our knowledge, the Property will be the only senior living product in the market and will establish the market rate for the specific target niche.

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Neither Rhove Real Estate 1, LLC nor Roost Enterprises., Inc. make investment recommendations and no communication, through this site, mobile app or in any other medium should be construed as a recommendation for any security offered on or off this investment application. Investment opportunities posted are private placements of securities that are not publicly traded, involve a high degree of risk, may lose value, and are intended for investors who do not need a liquid investment. Past performance is not indicative of future results. Investors must be able to afford the loss of their entire investment. Neither Rhove Real Estate 1, LLC nor Roost Enterprises., Inc., nor any of their officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy or completeness of any information on this Site or the use of information on this Site. Offers to sell securities can only be made through official offering documents that contain important information about the investment and the issuers, including risks. Investors should carefully read the offering documents. Investors should conduct their own due diligence and are encouraged to consult with their tax, legal and financial advisors before investing . You may also obtain a copy of the Offering Circular here.