The Proano Commercial Group is pleased to offer a 6-building, 77-unit multifamily portfolio in Urbana, IL — a compelling value-add opportunity in a stable and growing rental market. Located along Mitchem Drive and Vawter Avenue, the portfolio features a diverse unit mix ranging from 1- to 4-bedroom apartments. All buildings are separately metered, with tenants responsible for their own electric and water expenses. Seller financing is available with attractive interest-only terms.
Renovations are largely complete, with 69 units fully rehabbed and ready for occupancy. The remaining 8 units at 2008 Vawter Avenue are in the final stages of improvement. Ownership is actively executing a lease-up strategy and targeting approximately 85% occupancy by the end of 2025, creating a clear runway for income growth and stabilization.
Buyers have the flexibility to acquire the entire six-property portfolio or purchase five of the six buildings, excluding 2008 Vawter Avenue, which may be sold separately.
Seller financing is offered at 8.5% interest-only, with a 23–36 month term, no prepayment penalty, and a $1 million minimum financed amount, providing investors with enhanced leverage, flexibility, and near-term cash flow upside.
Urbana is part of the Champaign-Urbana metro area, a resilient Midwestern market anchored by the University of Illinois, Carle Foundation Hospital, and an expanding technology and research sector. The area benefits from consistent workforce and student housing demand, solid absorption trends, and long-term rental stability supported by strong institutional and employment drivers.