Interra Realty has brokered the $5.87 million sale of a five-building, 102-unit multifamily portfolio within driving distance of the University of Illinois Urbana-Champaign campus.
Interra Director Michael Duckler represented the confidential buyer in the off-market deal. The portfolio comprises 1001-1021 W. Francis Drive and the adjacent 1402-1406 N. McKinley Ave. The transaction also included 1012 W. Francis Drive, a nearby single-family house.
“As the multifamily market continues to experience steady rental rate increases and strong property appreciation, investors are on the hunt for assets that offer short-term income potential and long-term value growth,” said Duckler. “With a lower barrier to entry in smaller markets like Champaign, there are abundant opportunities out there for buyers seeking higher relative yields.”
Constructed in 1970, the apartment buildings feature 36 one-bedroom and 66 two-bedroom units. 1001-1021 W. Francis and 1402-1406 N. McKinley are located close to dining and shopping options.
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