The Place at 117_出售物業
The Place at 117_出售物業
117 Sterling Ct, Savoy, IL, 61874-8041, US

The Place at 117


Jones Lang LaSalle Americas (Illinois), L.P. ("JLL") is pleased to present The Place at 117 (the "Property" or "The Place"), a remarkable value-add opportunity located in one of the strongest student housing markets in the nation. The 192 unit / 588 bed property serves the ballooning student population at the University of Illinois Urbana-Champaign (the "University" or "UIUC") where enrollment has grown for over ten consecutive years.

As the Property was originally constructed in 2001, current ownership began a renovation campaign that targeted both the Property’s exterior and unit interiors. The 59 premium units available for the 2022-2023 academic year offer refreshed appliances, countertops, and fixtures, and new ownership has the opportunity to complete the proven value-add campaign across almost 70% of The Place's units that remain unrenovated. Exterior improvements completed within the last three years include replacing the roofs, repainting the buildings, sealing and striping the parking lot, upgrading the lighting and more.

This opportunity enables a new investor the ability to gain a foothold at a Tier-1, Power-5 University that has been recognized as the #14 Top Public University in the Nation. In Fall 2021, UIUC welcomed the largest freshman class in its nearly 200-year history, and its strategic plan anticipates further growth in the short term. 

New ownership can leverage the Property's ascending profile within a fortified market to generate stable cashflows both in the immediacy and long into the future.



192 單位
建築物面積 (淨面積)
203,712 平方呎



Fannie Mae Loan Assumption Available The In-Place Financing Can be Assumed by a New Owner Offering ~60% LTV, a 4.5% Fixed Interest Rate, and Approximately 10 Years of Remaining Term

Flagship Big Ten University – UIUC’s internationally recognized academic and athletic programs consistently rank among the best in the world which enticed a record-setting 63,000+ applicants in Fall 2022, representing a 33% increase year-over-year

Value-Add Opportunity ­– New ownership can complete the proven value-add campaign by renovating the ~70% of units that remain original

Concrete Student Housing Market – Ten consecutive years of enrollment growth has supported average market occupancy of 95%+ and annual rent growth of nearly 7%

Discount to Replacement Cost – The Place at 117 is offered at an attractive basis that will generate high yields for a new owner 

Expanding Bed Shortage – Soaring construction costs has diminished the already limited development pipeline and created a supply and demand imbalance that’s expected to widen

Leader in STEM Fields – UIUC offers world-class academic programs and its STEM curriculums are ranked among the top five in the nation

The Place at 117 4_出售物業
The Place at 117 4_出售物業


The Place at 117 (0 項物業)
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