APARTMENT Amenities
• On-site Fitness Center
• Online Payments Available
• Business Center
• Laundry Facilities
• On-site Maintenance
• On-Site Management
• Study Lounge on Every Floor
• Free Printing
• Steps From UIC Campus
• Steps From Blue Line CTA
• Trained & Certified Security Officers
• Pet Friendly
• Clubhouse
Community Amenities
PROPERTY INFORMATION
LOCATION
Visit Doc Center
410 South Morgan Street | Chicago, IL
University of Illinois
1901/2006
BUILT
482
BEDS
142
UNITS
Opportunity
Property Info
Location
Photo Gallery
Contact
Doc Center
Privacy
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PHOTO GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Brandon Buell
Senior Managing Director – Student Housing
346.444.8982 | brandon.buell@berkadia.com
Kevin Larimer
Senior Managing Director - Student Housing
248.341.3305 | kevin.larimer@berkadia.com
BERKADIA STUDENT HOUSING TEAM
CONTACT Info
Jie Lee
Associate Director
949.622.9267 | jie.lee@berkadia.com
Mortgage Bankers
Aaron Moll
Director
248.208.0529 | aaron.moll@berkadia.com
Peter Benedetto
Senior Managing Director
248.208.3462 | peter.benedetto@berkadia.com
260 E. Brown Street, Ste 150
Birmingham, MI 48009
Phone: 248.646.7701
Detroit Office
2229 San Felipe Street, Ste 1600
Houston, TX 77019
Phone: 713.974.1300
Houston Office
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
• Rental upside: property rents below market by several hundred dollars
• Prime location: closest Student Housing asset to University Illinois-Chicago (UIC); less than 2 miles from
the University of Illinois Hospital and Downtown Chicago
• Record-setting student enrollment for 8th consecutive year
• High-demand market: 30K students in need of off-campus housing
• University and student funding: Opportunity Grants, Monetary Award Program, and 2nd-highest state
funding for UIC
• New computer science building opens in 2023
THE OPPORTUNITY
• Alarm System
• Fully Furnished
• Free Internet
• Air Conditioner
• All Utilities Included in Rent
• Refrigerator
UIC set a new record for freshman class size, with 4,244 first-time freshmen enrolled in fall 2022, following a 2021 enrollment of 4,202 students. This robust enrollment growth can partially be credited to the new Illinois Commitment program, which was announced in August 2018. Illinois Commitment is a financial aid program that guarantees free tuition and fees to any admitted student who is an Illinois resident with an annual family income of $67,100 or less and has less than $50,000 in family assets. First generation students in fall 2021 more than doubled from ten years ago.
Overall, the University of Illinois System grew to a record high for an eighth consecutive year, increasing 5.0% annually to more than 94,000 students in fall 2021. The system surpassed its five-year goal of 93,600 students by 2022, which bodes well for future UIC enrollment, as it's the system's largest and most prestigious campus.
The University of Illinois Chicago does not require students to live on campus. The university offers 8 residence halls located throughout the campus. Residence halls accommodate all class levels and offer a variety of living styles. Overall, university-owned housing communities accommodate roughly 3,870 students, leaving more than 29,000, or approximately 89%, of students in need of off-campus housing options.
University Overview
Location
Property Info
Opportunity
DOC CENTER
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Contact
917
Avg Unit SIZE
$3.90
avg Rent / SF
97%
Occupancy
Ralph DePasquale
Managing Director
312.845.8572 | ralph.depasquale@berkadia.com
Pete Evans
Senior Managing Director
312.407.6711 | pete.evans@berkadia.com
Steve Skok
Managing Director
312.845.5164 | steve.skok@berkadia.com
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