Illini Rental Properties LLC Acquires University Commons Student Housing In Champaign For $13.3M
209 East University Avenue
$13,300,000
$194/SF
Building Size
68,309 SF
Asset Type
Student Housing
Closing
Jan 9, 2026
AI
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
Champaign Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93