This offering includes two well-established self-storage facilities in Central Illinois totaling 80,650 net rentable square feet. Locally operated since 2014, both properties offer steady occupancy with upside through rent growth, mandatory insurance implementation, as well as occupancy growth. Equipped with onsite kiosks these two sites have been operated as satellite sites allowing for seamless ownership transition.
Situated on over 4 acres and originally built in 2014 EZ Lock Urbana recently underwent an expansion in the spring of 2023 adding 20,000 net rentable square feet. Today this fully gated 50,800 square foot facility offers 380 units of drive-up climate and non-climate-controlled units, with room left to expand. EZ Lock Urbana does not currently require any tenant insurance allowing for additional revenue growth through further implementation. Just 8 minutes from University of Illinois, EZ Lock Urbana sees strong summertime demand from the local student population. The City of Urbana is home to the University of Illinois which has seen enrollment climb to over 56,400 students. EZ Lock Urbana falls within the city’s enterprise zone that offers a tax abatement incentive program for commercial developments exceeding project minimums. There are no known new developments taking place within the trade area.
Just 8 miles northeast of downtown Peoria is Germantown Hills. Germantown Hills is a wealthy bedroom community of Peoria with average household incomes above $105,000. Sitting on just under 2 acres, EZ Lock Germantown Hills features 29,850 net rentable square feet across 178 units in four buildings. This fully paved site has great visibility from IL-116 and offers online as well as onsite kiosk rentals. The property has a strong operating history and currently boasts a 91% occupancy. With no new developments within the trade area, EZ Lock Germantown Hills provides the community with quality and reliable storage