Costs, Fees & FAQs

Review comprehensive pricing details, monthly fee structures, tax benefits, and frequently asked questions regarding ownership at Aquila Commons.

1. The Share Purchase Price

Aquila Commons is a market share cooperative, which means there is no complex underlying master building mortgage. Each share or residential unit is bought and sold at current market value rates.

When it comes time to sell your individual share, you receive your agreed selling price minus any required refurbishment costs. The selling price is set freely by the owner, but may not exceed the original share cost plus 3% simple accumulation per year of ownership.

Tax Advantages & Savings: Each share is fully eligible for homesteading. Your unit real estate property taxes are paid collectively through the co-op based on assessed equity value and remain 100% tax deductible, just like a traditional single-family home.

2. Monthly Association Dues

Members support the operating expenses of the cooperative through monthly dues. This predictable payment is based on the square-footage size of the unit you occupy and is reviewed annually. These fees include:

Professional On-Site Management
Interior & Exterior Maintenance
Landscaping & Snow Removal
Standard Appliance Repairs
Master Building Insurance
Water, Sewer, Trash & Recycling

High-Def Cable Television
Security & Fire Protections
Capital Reserve Asset Funds
Private Garage Stall & Storage
Use of All Common Area Spaces

*Note: Members remain individually responsible for their personal unit gas, electric, telephone, internet utility connections, and property taxes.

Included Shared Community Amenities

Your monthly dues give you full, open access to a wide variety of premium common spaces right inside the building:

Party Room with Kitchen

Fitness Center

Quiet Library

Resident Workshop

Car Wash Garage Stall

Multi-Use Craft Room

Game Room with Pool Table

On-Site Guest Suite *

* Available for visiting guests and family members for a nominal nightly charge.

Frequently Asked Questions

A housing cooperative is a trusted form of home ownership in which people join together to own real property through a democratically controlled, not-for-profit corporation. Cooperatives provide the equity advantages of traditional home ownership paired with the day-to-day conveniences of community living.

In a housing cooperative, there are two distinct owners: The not-for-profit corporation (Aquila Commons) owns the land, building structure, common spaces, furnishings, and individual units. The resident members own and control the corporation itself. Instead of a traditional deed, each member receives a corporate stock certificate. This stock certificate entitles the member to a proprietary lease on a specific home unit, which can be customized and modified to the member's personal taste within standard community guidelines.

Not at all. The country’s first housing cooperative was organized in New York back in the late 1800s. Today, there are more than 78 million housing cooperatives across the globe, with over one million operating right here in the United States. Currently, Minnesota leads the entire nation in forming senior housing cooperatives. Since 1978, 110 new co-ops have been built across the state, providing over 6,500 premium residences for senior adults.

Cooperatives are governed by a Board of Directors made up of volunteer residents who are elected directly by the share owners. Members contribute to operations through their predictable monthly dues, while day-to-day community management, maintenance, and building activities are handled by a professional hired manager working alongside volunteer resident committees. This creates an owner-occupied community where individuals are genuinely committed to maintaining property values and supporting a high quality of life.

How to Join Aquila Commons

Review Agreement

Whether working with a real estate agent or directly with a current share owner, you agree on a purchase price and down payment. You then receive a comprehensive book of the Cooperative's legal documents.

10-Day Evaluation

You have 10 full days to review the cooperative guidelines before finalizing your decision. Once you decide to move forward, the Resident Services Manager will formally request residency approval from the Board of Directors.

The Closing Process

You sign documents agreeing to the rules established by Aquila Commons. You can pay for your share in full with a cashier’s check or wire transfer, or apply for a specialized share loan.

Need information on financing your share purchase with a specialized share loan? Contact our preferred partner, the National Cooperative Bank (NCB), directly at 1-937-840-6012.

Have additional questions about cooperative fees?

Our professional management office is here to walk you or your financial advisors through our share values and operational disclosures.

Call Office: 952-746-5547 Submit an Online Inquiry

FAQs & Fees