Urbana Portfolio | 77 Units I S Finance Multi-Family FOR SALE


Urbana, IL
$5,800,000 USD
312-860-4043
, Urbana, IL for Sale
$5,800,000 USD
Multi-Family - FOR SALE
1/54
null | 8.54% Cap Rate

Urbana Portfolio | 77 Units I S Finance
Urbana, IL


HIGHLIGHTS

  • 77 Units Across 6 Buildings – Immediate scale in Urbana, IL
  • 65 Units Renovated – Remaining 12 units nearing completion
  • Diverse Unit Mix – 1 to 4 bedrooms attract broad tenant base
  • Separately Metered – Tenants pay water and electric
  • Electric Systems – Simplified maintenance with electric furnaces/stoves
  • Seller Financing Available – Flexible terms for qualified buyers

OVERVIEW

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.

ASK ABOUT THIS PROPERTY

Paul ProanoColdwell Banker Commercial RealtyMore Info
312-860-4043

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Paul ProanoColdwell Banker Commercial RealtyMore Info
312-860-4043

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.