101 W Stewart Pl
Normal, IL 61761
Multifamily Property For Sale · 94 Units

Marcus & Millichap is pleased to present the Stewart & Main Student Housing Portfolio, well-situated at Illinois State University in Normal, Illinois. This 28-unit, 94-bedroom portfolio consists of two properties and three total buildings. All units come fully furnished with internet access, off-street parking, and utility allowances included in each rent. Both properties are located within a close proximity to the ISU Campus. Situated on each side of the university, the portfolio can house students near any ISU landmark. At 410 N Main, the 18 units were converted from four-bedroom to three-bedroom units. These large living spaces have granite countertops, in-unit washers and dryers, and a parking spot for each bed. 410 N Main is only four minutes from campus and close to Bone Student Center and Hancock Stadium. From the increase in living quarters to the in-unit improvements, 410 N Main is poised to perform well in its current state. Four minutes SE of campus, 101 W Stewart Pl houses 40 beds in its 10 units. Built in 1989, the units have a spacious living area, kitchen, and breakfast bar, and are located within minutes of the Quad. There is a great opportunity to enhance revenue and add value through upgrading unit interiors. The Stewart & Main Student Housing Portfolio provides an investor the opportunity to acquire two well-performing properties at Illinois State University. Each property has a robust occupancy history and is poised to capitalize on Illinois State University's expected enrollment growth. Together, they result in a coveted blend for buyers: a stabilized and a value-add property, diversifying strategy and risk.