The Social Normal and The Social ISU have achieved cumulative rent growth of more than 24% since 2023, outpacing the market’s nearly 16% growth during the same period, while still offering additional upside relative to market rents. This performance reflects the strength of the assets’ positioning, demand profile, and ability to capture continued rent growth while maintaining a compelling value proposition relative to competing properties.

Illinois State University’s enrollment has grown nearly 9% over the past five years, reaching a record 21,994 students in Fall 2025. With purpose-built housing serving less than 55% of full-time enrollment and no new supply in the pipeline, the market remains significantly undersupplied. 

The Social Normal offers continued upside through a proven value-add strategy, with renovated units achieving 10%+ rent premiums. With 132 of 207 units already renovated and nearly $5 million invested, the property offers a clear path to further revenue growth. 

The offering includes assumable financing at both assets, with $23.639 million at The Social Normal and $9.0 million at The Social ISU at attractive blended rates. Amortization begins in January 2027, with both loan packages maturing in January 2032.