In 2023, 13 property owners in Champaign County owned over 100 properties each.

The largest property owner, by far, is the University of Illinois Board of Trustees, with at least 400 properties and a combined acreage of 7,592.22 acres. However, as a public institution, the university is tax-exempt.

The cities of Champaign and Urbana are dominated by a small group of landowners, many of whom have their properties in Limited Liability Companies (LLCs). The LLCs make it difficult to track properties that lead back to an individual or group, so the top property owners may own far more properties under other LLCs.

Champaign County property tax records are accessible online, where properties can be searched by address, parcel number, or sale details. However, searches by owner name are not permitted in the public database. In contrast, mobile home properties can be searched by owner name.

To enable more transparent research, CU-CitizenAccess.org utilized the Freedom of Information Act to compile the raw property tax data into a searchable format by owner name. This resource helps identify the top property owners in the county and what their properties are valued at.

The current analysis considered three criteria: the number of properties owned, total acreage owned, combined land assessment value. As a result, several property owners appeared on multiple lists.

Top landowners by combined gross acreage 

Gross acreage is all the land within a given boundary and, in this case, the land by acreage of a given property owner. 

The University of Illinois is the largest landowner in Champaign County, owning at least 7,592 acres. Following closely is the Champaign County Forest Preserve, which owns at least 3,624 acres spread across 105 properties. 

Farmland Reserve Incorporated owns 2,360.07 acres of land in Champaign County. This company is owned by The Church of Jesus Christ of Latter-day Saints, also known as the Mormon church.

The church has become one of the largest landowners in the U.S., with nonprofit organization Truth and Transparency finding that it owns 1,754,633 acres with a market value of at least $15.7 billion. Every year, the church acquires more land and leases it back to local farmers, the investigation found. 

Landowners with the most properties

Among the 78,638 entries in the county’s property tax database, only 13 property owners had more than 100 properties each. Approximately 9.5% of landowners held two or more properties. 

Property management companies make up a significant portion of the top landowners. Of the top 20 owners with the most individual properties, property management companies accounted for nine of them.

All but one of these nine property management companies own more properties than the City of Urbana, which ranks 17th.

Top landowners by combined gross land assessment value 

The Carle Foundation, a major healthcare provider in the county, holds the highest combined gross land assessment value at $139.3 million. In September 2023, the foundation won a court case against the Illinois Department of Revenue, securing property tax exemptions for the years 2005 to 2011, as seen in court documents. 

Although the Carle Foundation’s primary focus is not charity, it does provide significant charity care and has been fighting for these tax exemptions for at least 16 years.

In May this year, WCIA reported that Champaign County petitioned the Illinois Supreme Court to hear the case against Carle Foundation, and legal documents argued the tax exemptions could cost local governments $10.4 million.

Green Street Realty, a well-known property management company, is second with $57 million. Various other property management companies, which often rent to university students, top the list, including The Dean Project Owner, JSM Management and CPM Management. 

The Illinois Limited Liability Company (LLC) Act, Article 5, Section C, states that “a limited liability company is a legal entity distinct from its members,” which protects the personal assets of the LLC’s members from the company’s debts and obligations. 

As highlighted in the Shelter Forces article, “When Landlords Hide Behind LLCS,” LLC structures can obscure property ownership.

For example, Green Street Realty is led by Chris Saunders, who serves as president, CEO, owner and secretary. Saunders is also the owner and CEO of Sub 4 Development Company, an LLC. 

Both Green Street Realty and Sub 4 Development list many of the same properties on their websites, and public records indicate several employees work at both companies.