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Brooklyn, Melrose, and Millennium 3 Multifamily Properties in Charleston, IL
Investment Highlights
- Three Neighboring Student Housing Communities Pedestrian to EIU
- Offered Well Below Replacement Cost The Millennium Recently Underwent $4M+ Renovation
- 5% Increase in Students Transferring from Community Colleges for AY 2025-26
- 3 Properties with 116 Units and 248 Beds Combined Fully Furnished Units with Amenities at All Properties
- One of the Best Locations in the Market Near Popular Bars, Shopping, and Campus
- 91% Surge in Business Administration Enrollment EIU is Well-Known in the Region for Education, Business Administration Psychology, Communication
Executive Summary
This offering represents the opportunity to acquire three neighboring student housing communities in Charleston, Illinois, pedestrian to Eastern Illinois University.
Brooklyn Heights is a 34-unit, 56-bed community with a mix of one- and two-bed units with bed-bath parity built in 2010.
Melrose on 4th is a 32-unit, 64-bed community with two-bed units with bed-bath parity built in 2008.
Millennium is a 50-unit, 128-bed community with a mix of one-, two-, and three-bed units built in 2002 and fully renovated in 2023.
Brooklyn Heights is a 34-unit, 56-bed community with a mix of one- and two-bed units with bed-bath parity built in 2010.
Melrose on 4th is a 32-unit, 64-bed community with two-bed units with bed-bath parity built in 2008.
Millennium is a 50-unit, 128-bed community with a mix of one-, two-, and three-bed units built in 2002 and fully renovated in 2023.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 175,229 SF |
| Number of Properties | 3 | Total Land Area | 7.43 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 175,229 SF |
| Total Land Area | 7.43 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
The Millennium Apartments
1305 4th St, Charleston, IL 61920 |
Multifamily | 84,602 SF | 2002 | - |
|
Brooklyn Heights Apartments
965 4th St, Charleston, IL 61920 |
Multifamily | 51,294 SF | 2010 | - |
|
Melrose on 4th
950 4th St, Charleston, IL 61920 |
Multifamily | 39,333 SF | 2008 | - |
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Brooklyn, Melrose, and Millennium
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