Coles County Rental Portfolio

This portfolio is positioned across Mattoon and Charleston, two established communities in east-central Illinois. Charleston is anchored by Eastern Illinois University, which brings a steady stream of students, faculty, and staff to the local rental market. Mattoon sits just west on Interstate 57, providing direct north-south access to Champaign-Urbana, Effingham, and further connections to Chicago and St. Louis. U.S. Route 45 and Route 16 run through the trade area, keeping transportation straightforward. Mattoon has a population around 17,000 and functions as a regional employment hub with distribution, healthcare, and light manufacturing. Charleston adds another 17,000 residents, with housing demand supported by the university and Coles County’s public institutions. Combined, the two towns offer a tenant base split between workforce housing, student rentals, and long-term local residents.This portfolio covers 11 parcels across Mattoon and Charleston with a mix of multifamily and single-family rentals. The package includes 22 multifamily units across two addresses plus 9 single-family homes ranging from duplexes to 3-, 4-, 5-, and 6-bedroom properties. All units are currently tenant-occupied and producing income, delivering an in-place 8.8% cap rate. Charleston benefits from Eastern Illinois University, which drives steady rental demand alongside government and healthcare employment. Mattoon serves as a regional employment center with healthcare, manufacturing, and logistics tenants, anchored by immediate access to Interstate 57. Together, these markets provide stable occupancy, affordable rents relative to larger metros, and a reliable tenant base spanning students, workforce housing, and long-term residents. This is a straightforward income-producing portfolio with immediate returns.