STUDENT HOUSING DEVELOPMENT OPPORTUNITY

Coldwell Banker Commercial Devonshire Realty (CBCDR) is pleased to exclusively offer the opportunity to acquire 105 E Armory Avenue on the University of Illinois at Urbana-Champaign campus (the “Property”). The Property consists of a +/- 13,378 SF rectangular parcel that is approximately 138’ x 96’. 105 E Armory Avenue is ideally suited for a student housing developer or fraternity / sorority and the MFUniv zoning permits building heights up to 75’ high, with no requirements for open space reserves, floor-to-area ratio, or parking for multifamily buildings (1 space per 4 peds for fraternity / sorority), and only minimal setbacks of 10’ in the front yard and 5’ in the side and rear yards. Additionally, the Property is located within a Qualified Opportunity Zone (QOZ), established under the 2017 Tax Cuts and Jobs Act to encourage economic investment through preferential tax treatment for capital gains.