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Apartments Near Illinois State University Get New Ownership

Marcus & Millichap has arranged the sale of Lincoln Park Townhomes, a 39-unit apartment property located in Normal, IL, near Illinois State University and about two hours southwest of Chicago. The property traded for $6.8 million.

Eric P. Bell, senior managing director investments, and Mitchell Kiven, a senior associate, in Marcus & Millichap’s Chicago Oak Brook and Chicago Downtown offices, respectively, marketed the property on behalf of the seller. Buyer and seller were not disclosed.

Located on a prominent corner, the all-brick townhome-style building is at 609 S. Fell Ave. in Normal. The units are all four-bedroom/four-bathroom, and feature in-unit laundry facilities. ISU is located about 0.2 miles away.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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