Active · For Sale · Multi Family 5+

501 Lutz Road, Bloomington, IL 61704

MLS #12578316

501 Lutz Road, Bloomington, IL 61704
501 Lutz Road, Bloomington, IL 61704CRER
501 Lutz Road, Bloomington, IL 61704

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501 Lutz Road, Bloomington, IL 61704

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The property

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 has 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.

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$1,126,320
Reported Annual Expenses
$396,591
Estimated NOI
$729,729
Estimated Cap Rate
6.13%
Estimated GRM
10.57
Annual Taxes
$142 (2024)

Property Details

Units
56
Building Size
63,266 SF
Lot Acreage
3.8
Lot Dimensions
395 x 337 x 102 x 200 x 94 x 200 x 185 x 354
Stories
2
Year Built
2026
Building Age
New Construction
Zoning
MULTI
Parcel Number
2117451007

Operations & Utilities

Heating
Forced Air, Gas

Location & Use

County
McLean
Market Area
Bloomington

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.