106 Shelbourne Dr, Normal, IL 61761
12 Unit Apartment Building | For Sale | Normal, IL 61761
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 7,535 SF
Listing Contacts
Kevin Burns
David Funke
Property Overview
Capstone Apartment Partners are pleased to present 106 West Shelbourne Drive, a 12-unit garden-style apartment complex in thriving Normal, IL. New owners will benefit from the immediate potential for income growth upon purchase with average market rents being more than $100 per month greater than those at 106 W. Shelbourne. Bloomington-Normal is a growing community that is anchored by diverse employment in the manufacturing, insurance, healthcare and education sectors. The close proximity to Illinois State University, Heartland Community College, Illinois Wesleyan University, and a variety of employment hubs, assures a consistent tenant pool from both the student population as well as working professionals looking to commute to Normal-Bloomington’s thriving education and healthcare sector. Furthermore, Normal is also home to Rivian Electric Vehicles and has invested more than $1 billion dollars into their sole vehicle manufacturing plant, which employs over 7,800 people. Rivian was also just granted an $827 million incentive package from the state of Illinois to expand its manufacturing operations and hire more workers. Additionally, located just over 10 minutes from the property, Normal is home to the State Farm Corporate Headquarters, employing nearly 15,000 people. The property also boasts a variety of attractive unit and community amenities including on-site parking, private decks/patios, and being located directly along the Normal IL Connect Transit’s “Pink” line. 106 W Shelbourne Drive represents a strong investment opportunity for new owners seeking stable returns, consistent occupancy, and the chance to create future value in a dynamic town with high tenant demand.
Property Details
- Class
- C
- Year Built
- 1998
- Stories
- 2
- Lot Size (sq. ft)
- 23,087 SF
- Units
- 12
Highlights
- Located Minutes Away from a Variety of Educational and Employment Hubs
- Wide Array of Attractive Tenant Amenities
- Consistently High Occupancy & Below-Market Rents
Nearby Properties
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