Marcus & Millichap Arranges $13.3M Sale of Student Housing Property in Champaign, Illinois

CHAMPAIGN, ILL. — Marcus & Millichap has arranged the $13.3 million sale of University Commons, a 100-unit student housing property in Champaign. Located at 209 E. University Ave., the building comprises 95 fully furnished units in a variety of floor plans along with five ground-floor retail spaces. Built in 2018, the 68,309-square-foot property spans 2.7 acres and features amenities such as a gym, recreation center and study room. The asset is situated a few blocks from the University of Illinois campus. Sam McCarthy and Scott Harris of Marcus & Millichap represented the seller and procured the buyer, Illini Rental Properties LLC, which plans to complete modest interior and common area upgrades as well as enhancements to the retail portion.