Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + Greater Chicagoland  + Student Housing  | 
The portfolio near the campus of the University of Illinois Urbana-Champaign contains single-family rentals and traditional student housing

Portfolio Sale Near U. Illinois Urbana-Champaign Sets Records 

Marcus & Millichap brokered the $150-million sale of a portfolio comprising more than 50 student housing properties totaling nearly 1,100 units near the University of Illinois Urbana-Champaign campus in Champaign, IL. The transaction, which closed in four tranches, set records in Champaign County, including the highest-ever portfolio sale price, as well as the largest number of units, bedrooms and buildings in a single portfolio sale.       

A Marcus & Millichap team of senior managing director Scott Harris and senior associate Bryan Kunze represented the longtime owner, Campus Property Management, and procured the buyer, Fairlawn Capital. The properties range from single-family rentals to traditional student housing apartments. 

“During our marketing process, we received substantial interest despite the pandemic and uncertainty in the marketplace, and the end result was a win-win for both buyer and seller,” said Harris. “The seller had owned many of the student housing properties for decades and was ready to divest.”

Connect

Inside The Story

Marcus & Millichap's Harris

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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