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


Urbana, IL
$5,850,000 USD
312-860-4043
, Urbana, IL for Sale
$5,850,000 USD
Multi-Family - FOR SALE
1/54
null | 8.46% 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 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.

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 Policy.