Triad Real Estate Partners completed the sale of Stadium View, a 120-unit, 384-bed student housing property at Northern Illinois University in DeKalb, Illinois. The property sold for a total price of $7,700,000 which translates to $64,167 a unit and $20,052 per bed.
The seller was Hunter Management, and the buyer was a regional group represented by CJ McCann of KW Commercial adding to their existing student housing portfolio in DeKalb. Stadium View was built in three phases from 1990-2005 and is located directly next to the football stadium at Northern Illinois University. The property consists of a mix of one, two and four-bedroom apartments and townhomes.
NIU saw their Fall 2020 total enrollment grow 1 percent to 16,769. The freshman class increased by 8 percent, marking the fourth year in a row of first-year enrollment growth.
