Wellington Place

Champaign, IL

Wellington Place

Green Street Realty took over Wellington Place Apartments in September of 2009. The 175 unit complex near Parkland College was 68% occupied and getting very little showing activity and six buildings that were either not finished or partially finished. We immediately opened the onsite office, ramped up marketing efforts and within months started seeing dramatic increases in occupancy and interest in the location. By 2011, Wellington Place was fully leased and the final two buildings were completed and leased. The turnaround allowed the owners to lock in on long term (35 years fixed) HUD backed financing.