919 Greenbrier Road, DeKalb, IL 60115
Turn-Key 24-Unit Student Housing Master-Leased to SAE at NIU
Marketing description
Exceptional investment opportunity in the heart of Northern Illinois University's student housing market. 919 Greenbrier Rd is a 24-unit student living property currently leased by the fraternity SAE, offering immediate cash flow and built-in occupancy. With capacity for up to 48 tenants, this property is ideally structured for high-yield student housing. Each unit is outfitted with essential amenities including a full kitchen, multiple bathrooms, and dorm-style living spaces. A spacious basement and 10 on-site parking spaces add value and convenience. Located steps from Greek Row and within close walking distance to campus, this is a prime location for student renters. A rare, turn-key asset in DeKalb-perfect for investors looking for stable, consistent returns in a thriving college rental market.
Investment highlights
The Kohler Group at Coldwell Banker Realty is delighted to offer 919 Greenbrier Road in DeKalb, Illinois—a leased, turn‑key student housing investment serving Northern Illinois University. Master‑leased to Sigma Alpha Epsilon (SAE) under a 3.5‑year agreement signed in December 2024 and extending through May 31, 2028, the property is zoned for 48 residents and features a mix of one private unit, twenty-two double‐occupancy rooms, and one triple suite. Recent capital enhancements include a new boiler, upgraded fire safety system, modernized kitchen, and 32 security cameras, with a fire sprinkler system pending installation per Greek Housing Fire Safety Act requirements. Renewal discussions are scheduled to begin December 3, 2027—180 days before lease maturity—providing optional income continuity. Strategically located just over an hour from downtown Chicago and O’Hare Airport, DeKalb combines university‑town vitality with rural charm and a progressive local economy, home to roughly 44,000 residents.
The area continues to attract institutional investment: a new 17,000 sq ft Northern Illinois University Center for Greek Life is slated for development by 2028 near West Hillcrest Drive and Blackhawk Road, just blocks from the property, and Meta (Facebook) has recently brought online a massive, sustainably built, LEED‑Gold‑certified data center nearby, delivering long‑term employment, local infrastructure investment, renewable energy partnerships, and educational grants to the DeKalb community. This combination of stable, expense-efficient income, upgraded infrastructure, and rapidly emerging local amenities makes 919 Greenbrier Road a compelling opportunity for long-term investors seeking strong returns and future upside.
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