662 Multifamily Units Hit the Market in Urbana, IL

Town & Country Apartments, Urbana, IL

 URBANA, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for Town & Country Apartments, a 662-unit apartment complex with a 52-unit on-site self-storage facility located in Urbana, Ill. The price is open bid. The call for offers is scheduled for Feb. 12, 2013.

            Scott Harris, a senior vice president investments in Marcus & Millichap’s Chicago Oak Brook office, is representing the seller, a local private investment group.

Scott D. Harris

“Town & Country has been receiving a great deal of interest, especially from mid- to upper-tier private investors,” says Harris. “The offering is a great opportunity to acquire a well-maintained asset in a stable rental area. The property has had very low historical vacancy, there is very little deferred maintenance and concessions have been virtually eliminated,” Harris adds.

            Located at 1032 East Kerr Ave. in Urbana, the property is situated on 30 acres. The apartment complex was constructed in five phases beginning in 1968 and ending in 2008. The unit mix features 412 one-bedroom/one-bath units, 234 two-bedroom/one-bath units and 16 two- bedroom/two-bath units.

Town & Country’s amenities include a business center, fitness center, basketball court, tennis courts and four swimming pools.

  

 For a complete copy of the company’s news release, please contact:

Public Relations

(925) 953-1716