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Illini Rental Properties LLC Acquires University Commons Student Housing In Champaign For $13.3M

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SOLD
$13,300,000
Scott Harris
Samuel McCarthy

Illinois

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Student Housing68,309 SF
Sold 01/09/2026
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Property Image
SOLD

Illini Rental Properties LLC Acquires University Commons Student Housing In Champaign For $13.3M

209 East University Avenue

See Similar Deals
Student Housing68,309 SF
Sold 01/09/2026
Scott Harris
Samuel McCarthy
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Student Housing
Price Per Square Foot:$194
Total Square Footage:68,309 SF
Transaction Type:Sale

University Commons is a 100-unit, 68,309-square-foot student housing property located at 209 East University Avenue in Champaign, which has been sold for $13,300,000. The property is situated near the University of Illinois, providing convenient housing options for students. The price per unit is $133,000, and the price per square foot is $195.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $13,300,000
  • Units: 100
  • Square Footage: 68,309
  • Price per Unit: $133,000
  • Price per Square Foot: $195
  • Buyer: Illini Rental Properties LLC
  • Brokers: Sam McCarthy & Scott Harris - Marcus & Millichap

Sam McCarthy and Scott Harris of Marcus & Millichap represented the seller in the transaction. Illini Rental Properties LLC is the buyer and intends to make modest upgrades to the interior, common areas, and retail spaces within the property.

Players

Scott Harris
Marcus & Millichap
Scott Harris
7 deals$163.9M volume
BROKER
Samuel McCarthy
Marcus & Millichap
Samuel McCarthy
3 deals(630) 570-2233
BROKER
Marcus & Millichap
Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Scott Harris & Samuel McCarthy DATE: 01/09/2026 ADDRESS: 209 East University Avenue MARKET: Champaign ASSET TYPE: Student Housing BUYER: Illini Rental Properties LLC BROKERS: Sam McCarthy & Scott Harris - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $13,300,000 UNITS: 100 ~ PPU: $133,000 SF: 68,309 ~ PPSF: $195 NOTE: Marcus & Millichap brokered the $13.3 million sale of University Commons, a 100-unit, 68,309-square-foot student housing property in Champaign located near the University of Illinois. Sam McCarthy and Scott Harris represented the seller and secured Illini Rental Properties LLC as the buyer, which plans modest interior, common area, and retail upgrades.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$709,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,252.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,048.79
Annual Debt Service$756,585.42