Class A five story mixed-use building featuring 135 student housing apartment units and just over 56,000 square feet of commercial space. The property is located in the heart of Uptown Normal across the street from the campus of Illinois State University. The project was constructed in 2010 and consists of 60 One Bedroom and 75 Two Bedroom units above two floors of retail/office space and one below grade level of parking.
Uptown Crossing is the premier off campus student housing property at Illinois State offering One and Two Bedroom units. Each apartment is fully furnished and has a washer/dryer, GE Profile line appliances and wall mounted LCD HDTVs. One Bedroom luxury units include granite counter tops and private balconies. Water, sewer, gas, trash, cable and internet are included with tenants responsible for their own electric.
The commercial space is 100% leased to a diverse mix of tenants. CVS leases the corner space on a 10 year NNN lease and ISU has two separate 5 year leases totaling 35,499 square feet including the entire second floor. The remaining three spaces are filled by Merry Ann’s Diner, Cocomero frozen yogurt and Apricot Lane, a women’s clothing boutique.
Uptown Crossing is a trophy asset and presents the opportunity to own the premier property at ISU. The location just off the Uptown Circle, across from the new Marriott and kitty corner to the two largest dormitories is unparalleled. Rent growth and an all-inclusive utility allowance offer the ability to continue to add value to this unique asset.
The campus of Illinois State University (ISU) is spread over 1,000 acres in Normal, IL, approximately 140 miles southwest of Chicago and 165 miles northeast of St Louis. ISU can trace its origins back to 1857, which makes it the oldest public university in the state. The original intent behind the founding of the school was to produce more college-educated teachers in the state of Illinois. While that strong foundation in education still exists, as ISU is one of the top ten largest producers of teachers nationally, the university has broadened its scope to offer a range of degree programs at the bachelor’s, master’s, and doctoral levels. Today ISU enrolls over 20,000 students from all corners of the country and 67 different companies.
Total enrollment at Illinois State University for the 2014-15 academic year is 20,271, with 17,749 undergraduate and 2,522 graduate students. Generally, though, enrollment has remained relatively steady for the better part of the last decade, with a peak of 21,080 in the fall of 2011.
