802 W Oregon St
Urbana, IL 61801
U OF I CAMPUS HOUSING IN OPPORTUNITY ZONE · Multifamily Property For Sale · 30,941 SF

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale a student housing portfolio located in an Opportunity Zone at the University of Illinois at Urbana-Champaign (UIUC) containing three adjacent properties totaling 28 units and 51 beds. The portfolio provides two corner lots and is situated in a prime location one block east of Lincoln Avenue on the University of Illinois campus (51,196 students and 10,974 faculty & staff). Two properties in the portfolio, 802 W. Oregon and 603 S. Busey, are known as the Europa House, which was considered Private Certified Housing for UIUC. Certification requirements have recently changed, so the seller has elected not to renew the certification or transition to a traditional student housing model to provide the buyer with maximum flexibility. These properties have a shared swimming pool and lower level parking garage to accommodate 28 cars. 802 W. Oregon is a three-and-a-half-story building built-in 1967. The top three floors each have six, 2-bedroom units, which feature a double sink vanity in the bathroom and personal balcony. The bottom floor has one, 2-bedroom unit along with a shared resident lounge, laundry room, and meeting space. 603 S. Busey is a single-story building built-in 1993. The eight studio lofts feature a two-and-a-half-story cathedral ceiling, living room, bathroom, full kitchen with a breakfast bar, personal patio, and a loft level for sleeping and closet space. The building provides a shared lounge and laundry room. 601 S. Busey is a two-story house with on-site parking for seven cars. Each of the five bedrooms has an ensuite bathroom. The first floor has a spacious living room, large kitchen, and an additional bathroom. The basement is unfinished but provides a washer and dryer for the residents. AREA OVERVIEW The city of Urbana is a highly educated community thanks in part to the world-renowned University of Illinois at Urbana-Champaign. Champaign County is also home to the University of Illinois Willard Airport, Parkland College and a vibrant collection of business, tech, financial service, and agricultural firms. Champaign residents enjoy a robust healthcare network with two regional hospitals (Carle and OSF) and a full complement of specialty clinics (i.e. Christie Clinic) and medical providers. The subject portfolio is within easy walking distance to academic buildings, entertainment venues, recreation, and sports facilities, and numerous restaurants and retailers. It is located in a Qualified Opportunity Zone, which provides potential tax incentives. The tax incentives, which are tied to capital gains, are as follows: • Temporary tax deferral • Step-up in basis based on the length of time invested in the Opportunity Fund • Permanent exclusion (minimum hold of 10 years) from capital gains tax accrued in the Opportunity Funds