Author: By Griffin Uribe Brown – Staff reporter, Cincinnati Business Courier
Two vacant Northern Kentucky University residence halls – and the 10 acres they sit on – are on the market.
Located in the East Village at 3510 and 3520 Alexandria Pike, 3CRE Commercial Real Estate is marketing the properties for NKU. The land for sale features the now-empty 150,000-square-foot Callahan Hall and 77,000-square-foot Northern Terrace residence halls.
The firm said it is considering selling the two separate properties either individually or as a package. The buildings are suited for market-rate multifamily housing, active-adult or independent senior living, 3CRE said.
The building was built and operated as Lakeside Place Nursing Home before NKU acquired it in 2007. It initially cost $8.5 million, with an estimated replacement cost of $49.5 million, according to NKU’s website.
Northern Terrace has 48 units across its six stories and basement, each with two bedrooms and two bathrooms at around 881 square feet. It was built in 1946 and most recently remodeled in 2025. According to 3CRE, it is permitted as multifamily housing.
The building was previously Lakeside Terrace, an independent senior living facility, before NKU purchased it from the Campbell County Fiscal Court in 2013. It initially cost $1.4 million, with an estimated replacement cost of $16.9 million, per NKU’s website.
3CRE’s Michael Costantini, Tryfon Christoforou, Andrew Mattei and Olivia Page are marketing the properties and are currently accepting offers. 3CRE is the fifth-largest commercial real estate firm in Greater Cincinnati, according to Business Courier research.
NKU told students in the spring the two residence halls would not be available starting in the fall, The Northerner, NKU’s student newspaper, reported in March. Both residence halls were at less than 50% occupancy. The university said the closures also allowed it to bring all its residents into the heart of campus in Boothe Village.
“NKU closed Callahan Hall and Northern Terrace earlier this year as part of a planned consolidation of student housing,” the university wrote in a statement. “Now, NKU is excited to work with 3CRE to make this unique property available for re-use by senior living and multifamily developers, helping to fill an important housing need in Northern Kentucky.”