Listing Portfolios

Hillyer's U Store It Portfolio

$4,440,000
NRSF - 126,268

Hillyer’s U Store It Portfolio offers an excellent opportunity to obtain an eight-property, self-storage portfolio in Western Illinois. The portfolio features superb coverage of the area with a dominant market share in Macomb, home of Western Illinois University. Upon acquisition, an investor can further increase returns by raising rental rates to market averages and by improving operations through management efficiencies between locations.

At the end of years five and seven, the portfolio's projected leveraged IRRs are 21.50 percent and 22.90 percent, paired with solid cash-on-cash returns in years one and two of 18.39 percent and 16.00 percent. The portfolio has an excellent current capitalization rate of 8.05 percent and a pro forma year two capitalization rate of 8.45 percent.

The portfolio consists of eight facilities with one office at the Carroll Street facility, which is considered the primary location. Of the facilities, six are located in or near Macomb, the county seat of McDonough County, in a 7.1-mile maximum distance. To the east, the two remaining facilities are situated in Bryant and Lewistown at an 8.3-mile distance in Fulton County. The facilities are all strategically located on or less than 2 miles from the nearest highway access point.
Overall, the portfolio comprises 126,268 rentable square feet across 26.28 acres and 800 total units. Of the 800 units, 673 are non-climate controlled, 92 are climate controlled, 25 units are outdoor shed spaces and ten are non-climate shared spaces. Current physical and economic occupancies are 94 percent and an economic occupancy of 84 percent.

With the facilities within proximity of Western Illinois University, the portfolio has solid coverage of the university’s self-storage demand. Western Illinois University’s student count is reported at an estimated 11,094 and is ranked as one of the top 50 regional universities. For 11 consecutive years, the university has consistently received the accolade of “Best Midwestern University” by the U.S. News Report and also by the Princeton Review. The university’s students and estimated 1,699 full-time employees comprise a major portion of Macomb’s population.