Centennial South Apartments is a 100% HAP Contract deal located in Mount Prospect, IL. The senior apartment community consists of 97 one-bedroom units. At closing, Standard entered into a tax credit execution with Illinois Housing (IHDA). The acquisition was financed with a loan from Citibank – via a conduit structure with IHDA – and tax credit equity following a syndication by an Alliant/Citi JV. With the acquisition of the property, Centennial South Apartments are no longer at risk of exiting affordability programs, as the apartments are now preserved as affordable housing for the long-term. The tax-exempt bond financing arranged for this acquisition was the largest for a single project in Illinois history. The community went through a renovation in 2019.