MACOMB, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Aspen Court Student Apartments, (riverfront campus rendering at top right photo) a 229-unit, 467-bed student housing community in Macomb. The listing price of $21.85 million represents $95,415 per unit.
Shaun Buss and Sean Lyons, both senior associates in the Chicago Downtown office of Marcus & Millichap, are representing the seller, Aspen Court LLC.
Shaun Buss and Sean Lyons, both senior associates in the Chicago Downtown office of Marcus & Millichap, are representing the seller, Aspen Court LLC.
“Serving the off-campus student-housing needs of Western Illinois University, Aspen Court Student Apartments is an excellent opportunity for an investor to acquire a newly constructed, 100 percent occupied student housing community that promises imm
ediate cash returns,” says Buss.
ediate cash returns,” says Buss. Located at 1505-1531 West Jackson St., and 324-330 Wigwam Hollow Road, the 217,504-square foot student housing community consists of 20 two- and three-story buildings situated on an 11.7-acre lot.
The property is just one-half mile from campus and also sits on a dedicated bus line that shuttles students to and from campus.
Built between 2004 and 2008, Aspen Court Student Apartments boasts a strong mix of one-, two-, three- and four-bedroom units. Interior amenities include washer and dryers in each unit and individual utilities. Community amenities include a swimming pool, clubhouse with game room and business center, fitness center, basketball court and ample parking.
Additionally, the property includes land that is currently zoned for three additional 12-unit buildings.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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