Jackson Dearborn pays $31.38M ($71K/bed | $202K/unit) from 155-unit, 447-bed The Flats at ISU from Campus Advantage, Heitman JV

  • 7/1/2025

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JLL Capital Markets has arranged the sale of The Flats at ISU, a 447-bed student housing community serving students at Illinois State University in Normal. Completed between 2011 and 2014, The Flats at ISU features 155 units in studio through four-bedroom layouts. Amenities include a fitness center, study spaces, tenant lounges and outdoor grilling areas. At 99 percent occupied for the 2024-2025 academic year, the property benefits from Illinois State University’s record enrollment of 21,546 students, including its largest freshman class in 37 years, according to JLL.

Heitman
Gordon Black | Senior Managing Director, Private Equity, Core-Plus Platform
Heitman
Thomas McCarthy | Senior Managing Director, Private Equity-North America

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