05.23.24

Kiser Group Lists Copper View Apartments: Prime Multi-Family in Champaign, IL

Kiser Group Principal and Designated Managing Broker Lee Kiser, Advisor Kyle Sissell and Associate Jackson Medina of Kiser Group, have listed Copper View Apartments, a premier multi-family property in Champaign, Illinois. Copper View, built in 2012, is a 159-unit luxury apartment complex with clubhouse, pool, secured parking and dog run on-site.

Copper View was purchased in early 2023 with the vision of converting large student housing units into market rate apartments. Currently the property is in the last phase of extensive renovation, and lease-up is exceeding projections in both occupancy and rent. The pre-lease of units prior to completion of construction and an additional waitlist for turnover units underscores the high demand for quality housing in the area. Additional upside can be achieved (and has already been demonstrated) from updating unit finishes in the apartments not affected by the current renovation project.

Champaign has emerged as a hotspot for multifamily investors, thanks to its growing population and strong economic drivers. The city’s expanding job market, prestigious educational institutions, and vibrant cultural scene all contribute to the rising demand for high-quality rental properties. Fourteen of the top twenty employers in Champaign are within a 5-mile radius of Copper View Apartments.

“The supply of market rate housing in Champaign is very limited,” said Sissell. “The combination of a successful renovation strategy, submarket renter demand, lack of near term deliveries, and upside potential makes Copper View an attractive investment. We anticipate strong interest from regional operators looking for a foothold in a great Midwestern market.”

Copper View Apartments is priced subject to offer. For more information, contact MidwestTeam@kisergroup.com.

Click here to read the full story by VandeWeerd. 

Author:

Kiser Group Staff