Property Details
Ground-Up Development 
Asset Profile
Opportunistic

200 S Vine St

Urbana, IL

Multi-Family Property
Green Street Realty Champaign, IL
Green Street Realty
  • IRR 21%
  • Equity Multiple 3.4x
  • Hold Period 10Y
  • Minimum Investment $50K
  • Year 1 Cash on Cash N/R
  • Stabilized Cash on Cash 14% in Y2
  • First Distribution Oct 2020
  • Distribution Frequency Quarterly
  • Co-Investment 10%
  • Preferred Return 8%
  • Investor Profit Share 70%
  • Asset Profile Opportunistic
  • Loan-to-Value 76%
  • Current Occupancy 0%

About this Property

Why This Property?

Christopher Saunders, Green Street Realty: "This is an outstanding ground up development opportunity in Downtown Urbana, Illinois. We were able to purchase this land from the City of Urbana as part of a development agreement for $1. The fair market property value of the land is over $1 million. We were also able to negotiate a significant amount of real estate tax rebates over the first 5 years, which will improve over all cash flows and allow us to market these at a very competitive rent level, while still meeting our goals on returns."



Why Do You Like This Strategy?

Christopher Saunders, Green Street Realty: "We really like this project since its the first ground up development in downtown Urbana in 20 years. This is a high demand area with multiple jobs, shopping and dining options within a very short walk. The target demographic of young professionals and families is underserved in this area, with no new construction options available."



How Are You Mitigating Risks?

Christopher Saunders, Green Street Realty: "Our knowledge and large presence in this market helps us to choose and acquire only the best locations for development. Our team handles everything internally, from acquisition, construction, management and lease up of the property from start to finish. This hands on approach helps us keep our costs low, allowing us to build at a lower price than our competitors in the marketplace. We try to keep our rents reasonable, which helps us get the property to stabilization much quicker which allows us to pay investor returns sooner and still have plenty of room for rent growth and higher investor yields."

About this Property

Why This Property?

Christopher Saunders, Green Street Realty: "This is an outstanding ground up development opportunity in Downtown Urbana, Illinois. We were able to purchase this land from the City of Urbana as part of a development agreement for $1. The fair market property value of the land is over $1 million. We were also able to negotiate a significant amount of real estate tax rebates over the first 5 years, which will improve over all cash flows and allow us to market these at a very competitive rent level, while still meeting our goals on returns."



Why Do You Like This Strategy?

Christopher Saunders, Green Street Realty: "We really like this project since its the first ground up development in downtown Urbana in 20 years. This is a high demand area with multiple jobs, shopping and dining options within a very short walk. The target demographic of young professionals and families is underserved in this area, with no new construction options available."



How Are You Mitigating Risks?

Christopher Saunders, Green Street Realty: "Our knowledge and large presence in this market helps us to choose and acquire only the best locations for development. Our team handles everything internally, from acquisition, construction, management and lease up of the property from start to finish. This hands on approach helps us keep our costs low, allowing us to build at a lower price than our competitors in the marketplace. We try to keep our rents reasonable, which helps us get the property to stabilization much quicker which allows us to pay investor returns sooner and still have plenty of room for rent growth and higher investor yields."

Offered By

Green Street Realty

Green Street Realty

Champaign, IL

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Assets Under
Management

Currently
$250MM 100+ assets
Exited
$80MM 50+ assets
Portfolio LTV
68%  
Historical
Realized Returns

Total IRR
24%  
Equity Multiple
N/R  
Annual Cash
18%  
Years Of
Experience

As Principals
15+ years  
In Business
15 years  
Size
45 Staff * Dedicated investor relations
* All information is reported by Green Street Realty as of 7/16/2019.
Assets Under
Management

Currently
$250MM 100+ assets
Exited
$80MM 50+ assets
Portfolio LTV
68%  
Historical
Returns

Total IRR
24%  
Equity Multiple
N/R  
Annual Cash
18%  
Years Of
Experience

As Principals
15+ years  
In Business
15 years  
Size
45 Staff * Dedicated investor relations
* All information is reported by Green Street Realty as of 7/16/2019.

Financials

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Offering Financial

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Location Details

Urbana, IL

The 1.75 acre development site is located in Downtown Urbana, Illinois. The project is located within walking distance to the County and Federal Courthouses and numerous restaurants, bars and shopping options. The property is a very short distance to major hospital employers and the University of Illinois.

Documents

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Offering Agreement Documents

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