Greek / Student Housing Opportunity

SaleMulti-FamilySpecialty 20,832 SF
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205 E Armory Ave
Champaign, IL 61820
Price: $4,600,000.00
Building Size: 20,832 SF
Lot Size (sqft): 25,818 SF
Lot Size (acre): 0.59 AC
Parking: 22
Zoning: MFUniv
Tax PIN: 46-21-18-302-003
Year Built : 2009

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer the opportunity to acquire 205 E Armory Avenue on the University of Illinois at Urbana-Champaign campus (the “Property”). This purpose-built fraternity house, constructed in 2009, occupies a strategic location at the corner of Armory Avenue and Arbor Street, directly opposite Washington “Frat” Park. Boasting a total area of +/- 20,832 square feet on +/- 0.59 acres, this three-story house with a basement encompasses 13 residential units featuring 46 bedrooms and has capacity for 84 occupants. The Property is equipped with a fully functional commercial-grade kitchen, a dining hall, a chapter room, numerous common areas, and an expansive wrap-around porch.

The high-quality construction and finishes of the Property are evident in the entryway and lounge, which showcases wainscoting and coffered ceilings complemented by wood floors and a fireplace. The building is fully equipped with heating, cooling and sprinkler systems, and includes an elevator providing access to all floors.

Furthermore, the Property benefits from its designation within a Qualified Opportunity Zone (QOZ), established under the 2017 Tax Cuts and Jobs Act to stimulate economic investment by providing preferential tax treatment for capital gains.

Area Description

The Property is situated in a prime location on the University of Illinois at Urbana-Champaign campus (56,403 students) and provides an exceptional opportunity for a fraternity, sorority or student housing operator.

205 E Armory Avenue holds a prominent position at the southwest corner of Armory Avenue and Arbor Street, just west-by-southwest of the Illini Union, Main Quad and the broader University of Illinois campus. Its convenient location ensures easy walking access to academic buildings, Memorial Stadium, State Farm Center and the ARC.