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Urbana Portfolio | 77 Units I S Finance 6 Multifamily Properties Offered at $5,800,000 in Urbana, IL
INVESTMENT HIGHLIGHTS
- 77 Units Across 6 Buildings – Immediate scale in Urbana, IL
- Diverse Unit Mix – 1 to 4 bedrooms attract broad tenant base
- Electric Systems – Simplified maintenance with electric furnaces/stoves
- 65 Units Renovated – Remaining 12 units nearing completion
- Separately Metered – Tenants pay water and electric
- Seller Financing Available – Flexible terms for qualified buyers
EXECUTIVE SUMMARY
The Proano Commercial Group is pleased to offer a 6-building, 77-unit multifamily portfolio in Urbana, IL — a compelling value-add opportunity in a stable and growing rental market. Located along Mitchem Drive and Vawter Avenue, the portfolio features a diverse unit mix ranging from 1- to 4-bedroom apartments. All buildings are separately metered, with tenants responsible for their own electric and water expenses. Seller financing is available with attractive interest-only terms.
Renovations are largely complete, with 69 units fully rehabbed and ready for occupancy. The remaining 8 units at 2008 Vawter Avenue are in the final stages of improvement. Ownership is actively executing a lease-up strategy and targeting approximately 85% occupancy by the end of 2025, creating a clear runway for income growth and stabilization.
Buyers have the flexibility to acquire the entire six-property portfolio or purchase five of the six buildings, excluding 2008 Vawter Avenue, which may be sold separately.
Seller financing is offered at 8.5% interest-only, with a 23–36 month term, no prepayment penalty, and a $1 million minimum financed amount, providing investors with enhanced leverage, flexibility, and near-term cash flow upside.
Urbana is part of the Champaign-Urbana metro area, a resilient Midwestern market anchored by the University of Illinois, Carle Foundation Hospital, and an expanding technology and research sector. The area benefits from consistent workforce and student housing demand, solid absorption trends, and long-term rental stability supported by strong institutional and employment drivers.
Renovations are largely complete, with 69 units fully rehabbed and ready for occupancy. The remaining 8 units at 2008 Vawter Avenue are in the final stages of improvement. Ownership is actively executing a lease-up strategy and targeting approximately 85% occupancy by the end of 2025, creating a clear runway for income growth and stabilization.
Buyers have the flexibility to acquire the entire six-property portfolio or purchase five of the six buildings, excluding 2008 Vawter Avenue, which may be sold separately.
Seller financing is offered at 8.5% interest-only, with a 23–36 month term, no prepayment penalty, and a $1 million minimum financed amount, providing investors with enhanced leverage, flexibility, and near-term cash flow upside.
Urbana is part of the Champaign-Urbana metro area, a resilient Midwestern market anchored by the University of Illinois, Carle Foundation Hospital, and an expanding technology and research sector. The area benefits from consistent workforce and student housing demand, solid absorption trends, and long-term rental stability supported by strong institutional and employment drivers.
TAXES & OPERATING EXPENSES (PRO FORMA - 2026) Click Here to Access |
ANNUAL |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Price | $5,800,000 | Number of Properties | 6 |
| Price / SF | $114.74 / SF | Individually For Sale | 0 |
| Cap Rate | 8.54% | Total Building Size | 50,550 SF |
| Sale Type | Investment | Total Land Area | 2.25 AC |
| Status | Active |
| Price | $5,800,000 |
| Price / SF | $114.74 / SF |
| Cap Rate | 8.54% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 50,550 SF |
| Total Land Area | 2.25 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2008 Vawter St, Urbana, IL 61801 | Multifamily | 26,800 SF | 1990 | - |
| 2006 Vawter St, Urbana, IL 61801 | Multifamily | 7,625 SF | 1995 | - |
| 2004 Vawter St, Urbana, IL 61801 | Multifamily | 5,525 SF | 1996 | - |
| 2017 Vawter St, Urbana, IL 61801 | Multifamily | 3,600 SF | 1960 | - |
| 1301 Mitchem Dr, Urbana, IL 61801 | Multifamily | 3,550 SF | 1967 | - |
| 1303 Mitchem Dr, Urbana, IL 61801 | Multifamily | 3,450 SF | 1967 | - |
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Urbana Portfolio | 77 Units I S Finance
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