Urbana, Ill. — The Wernke Team has arranged the sale of Lincoln Place Apartments, a 60-unit, 155-bed student housing community located in Urbana.
The purchaser was Lincoln Place Apartments and the seller was Busboom Investments. The sales price was not disclosed.
Built in 1984, Lincoln Place Apartments encompasses approximately 2 acres and contains three 3-story buildings. The community is composed of a mixture of one-, two- and three-bedroom apartments.
Michael Wernke, senior vice president, and Chris Hentschel, associate, of RESOURCE Commercial Real Estate, in conjunction with Colliers International, arranged the sale of the property.