Grubb & Ellis Arranges $38M Loan For Illini Tower

by Katie Sloan

Campus Living Villages owns the 16-story, 725-unit student housing property in Champaign.

Champaign, Ill. — Grubb & Ellis Co. has secured $38 million in refinancing for the 16-story, 725-unit Illini Tower, a student housing property located at 409 E. Chalmers St. in Champaign, near the University of Illinois. Jim Adams of the firm’s Houston office arranged the 10-year loan on behalf of the owner, Campus Living Villages, through a CMBS lender.

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