Illiquidity in real estate means that:
a. you can quickly sell the property.
b. you don't have a water well on the property.
c. you cannot quickly sell the property.
d. you don't have financial leverage.

Illiquid: The state of a security or other asset that cannot easily be sold or exchanged for cash without a substantial loss in value. Illiquid assets also cannot be sold quickly because of a lack of ready and willing investors or speculators to purchase the asset.
So... the answer is C.
Hope this helped!!

Pilgrims is the answer