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URBANA AND CHAMPAIGN, ILL. — CB Richard Ellis has brokered the sale of Illini Tower, a 207-unit high-rise student housing community at the University of Illinois at Urbana-Champaign. The facility, which is located within the campus community at 409 East Chalmers St., is a Private-Certified Housing property within the University of Illinois PCH system. From the years 2003 to 2007, approximately $6 million was spent on renovating the 725-bed property. Ryan Reid and John Jaeger of CB Richard Ellis represented the seller, Walton Street Capital LLC, in the transaction. The acquisition price and the buyer were not disclosed.