EAST PEORIA, Ill. – Illinois Central College will reopen its on-campus housing to students in the fall, following the sale by the ICC Educational Foundation to a local investment group.
The property was purchased by Peoria-area real estate investors Brad Joseph, Bill Joseph, and Chad Joos. The sale was finalized on March 6, and the property will be managed by Young America Realty.
ICC says the apartment complex can accommodate up to 320 students and will reopen in August for the upcoming academic year.
ICC’s Interim President Bruce Budde emphasized the importance of reopening student housing by saying, “On-campus housing strengthens the overall college experience,” and adding that students who live on campus are typically “more engaged and more successful”.
The new owners will be rehabilitating campus housing to improve their appearance, comfort, and functionality. Updates will include new carpet, fresh paint, updated kitchen appliances, and refreshed furnishings.
Investor Chad Joos said the local ownership matters because they “understand this market, we care about this community, and we see the value in creating a quality living environment that enhances campus life”.
The sale was the result of a months-long evaluation process led by the ICC Educational Foundation.
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