A joint venture between Campus Advantage and Heitman have sold The Flats at ISU, a 155-unit, 447-bed student housing community serving Illinois State University in Normal, Ill.
JLL represented the seller. The buyer was Jackson Dearborn Partners.
Completed between 2011 and 2014, The Flats at ISU offers a unit mix ranging from studios to four-bedroom apartments, all featuring bed-bath parity. The property boasts modern interiors with LVT flooring, stone countertops, stainless steel appliances and mounted flat-panel HDTVs. Community amenities include an on-site management office, 24/7 fitness center, study spaces, tenant lounges and outdoor grilling areas.
The Flats at ISU occupies a premier location directly across from the Illinois State University campus, a five-minute walk to the main quad and the State Farm Hall of Business. The property also features retail offerings, with Chipotle, Jersey Mike's and Sushi Primo on-site, and is adjacent to Potbelly, Noodles &
