The Proano Commercial Group is pleased to offer a 6-building, 77-unit multifamily portfolio in Urbana, IL. A value-add opportunity in a stable and growing rental market. Located along Mitchem Drive and Vawter Avenue, the portfolio includes a diverse mix of 1- to 4-bedroom units. All buildings are separately metered, with tenants paying their own electric and water. Seller financing is available with attractive interest-only terms.
Renovations are largely complete: 65 units are fully rehabbed and ready for occupancy, while 12 units at 2008 Vawter Avenue are undergoing final improvements. The portfolio is targeting 90%+ occupancy. Buyers may purchase the full portfolio or acquire five of the six properties, excluding 2008 Vawter Ave, which can be sold separately.
Seller financing offers an 8.5% interest-only rate, 24–36 month term, no prepayment penalty, and a $1M minimum financed amount, providing flexibility and strong upside for qualified investors.
Urbana is part of the Champaign-Urbana metro area, a resilient Midwestern market driven by the University of Illinois, Carle Foundation Hospital, and a growing tech and research presence. The metro remains attractive for both workforce and student housing demand, with solid absorption trends and long-term rental stability fueled by the area's institutional and employment anchors.