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.