Major Bloomington properties tied to Jeff Jones sell for $9.5 million
Two major properties formerly owned by notorious Bloomington landlord Jeff Jones have changed ownership for a combined $9.5 million. A Bloomington-based limited liability company called Magnolia Park, owned by Bloomington residents Narayan and Veronica Silwal, has bought former Jones properties on the city's west and northeastern sides. Transactions in October included the 54-unit Shamrock Pointe apartment complex on McCracken Way, in northeastern Bloomington, and the commercial/residential property at 3939 W. Roll Ave., on the city’s west side, where Jones had based his company, Pendragon Properties, which dates back to the 1980s. Magnolia Park LLC bought the Shamrock complex for $7.5 million and the west side property for $2 million, according to local property records. Magnolia Park was formed in August, roughly two months before the acquisitions closed, according to state records. Before the purchases, the Silwals’ known Monroe County real-estate holdings consisted primarily of condominiums on South Cramer Circle, in Batchelor Heights. Jones, who last year agreed to sell his Bloomington rental properties as part of a settlement with the city, has had disputes with city officials for years. In August and September 2018, city inspectors documented more than 1,800 violations at three of Jones’ Bloomington apartment complexes. A few
