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Student Housing

406 Dewey Ave

406 Dewey Ave, Normal, IL 61761

Listing Price: $850,000

Cap Rate
8.96%
Number of Units
8
GRM
5.96
Occupancy
88.4%
Price/Unit
$106,250
Price/Gross SF
$83.33
Gross SF
10,200

Investment Overview

Marcus & Millichap is pleased to present 406 Dewey Avenue, an eight-unit, 31-bed student housing property located in Normal, Illinois. This property is located approximately one-half mile to the Illinois State University campus. This location is approximately three miles from Interstate 55 allowing easy access to the city of Chicago (approximately 130 miles northeast).

The building consists of one three-bedroom / one-bathroom unit and seven four-bedroom / one-bathroom units. The monthly rent includes two parking spaces, utilities, and internet. On-site laundry facilities are available. Select units have updated kitchens featuring new countertops, cabinets, and stainless-steel appliances, as well as updated bathrooms. This property is located approximately two blocks from popular bars and restaurants in Normal, making the property a sought-after student apartment building due to its proximity to both campus life, as well as night life.

Here, an investor has the opportunity to acquire a well-maintained student housing property that is well-located within walking distance to the Illinois State University campus.

Investment Highlights

  • Mix of Three and Four-Bedroom Units
  • Well-Located Only One Half-Mile to Illinois State University
  • Close Proximity to Normals Uptown Neighborhood, Home to Numerous Popular Restaurants
  • Well-Maintained Property Benefits from a Number of Recent Capital Improvements

Exclusively Listed By

  • Eric P. Bell

    Senior Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

Listing Price: $850,000

Cap Rate
8.96%
Number of Units
8
GRM
5.96
Occupancy
88.4%
Price/Unit
$106,250
Price/Gross SF
$83.33
Gross SF
10,200

Investment Highlights

  • Mix of Three and Four-Bedroom Units
  • Well-Located Only One Half-Mile to Illinois State University
  • Close Proximity to Normals Uptown Neighborhood, Home to Numerous Popular Restaurants
  • Well-Maintained Property Benefits from a Number of Recent Capital Improvements

Investment Overview

Marcus & Millichap is pleased to present 406 Dewey Avenue, an eight-unit, 31-bed student housing property located in Normal, Illinois. This property is located approximately one-half mile to the Illinois State University campus. This location is approximately three miles from Interstate 55 allowing easy access to the city of Chicago (approximately 130 miles northeast).

The building consists of one three-bedroom / one-bathroom unit and seven four-bedroom / one-bathroom units. The monthly rent includes two parking spaces, utilities, and internet. On-site laundry facilities are available. Select units have updated kitchens featuring new countertops, cabinets, and stainless-steel appliances, as well as updated bathrooms. This property is located approximately two blocks from popular bars and restaurants in Normal, making the property a sought-after student apartment building due to its proximity to both campus life, as well as night life.

Here, an investor has the opportunity to acquire a well-maintained student housing property that is well-located within walking distance to the Illinois State University campus.

Exclusively Listed By

  • Eric P. Bell

    Senior Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

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