Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $5.87 million sale of a five-building multifamily portfolio totaling 102-units in Champaign, Illinois, 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 Avenue. The off-market 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.”
1001-1021 W. Francis and 1402-1406 N. McKinley are located close to dining and shopping options along Prospect Avenue. The properties are about 1 mile from Interstate 74, 3 miles from Interstate 57 and 3 miles from the University of Illinois Urbana-Champaign campus.
Since its founding in 1867, the University of Illinois Urbana-Champaign has earned a reputation as a world-class leader in research, teaching, and public engagement.
Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds.
