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$ 949,000
Est. payment | /mo
7,200 SqFt
$ 949,000
Est. payment | /mo
7,200 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 7,200 sqft
Price per Sqft $131
MLS Listing ID 12673682
Year Built 1976
Annual Tax Amount $13,703
Tax Year 2025
Lot Size 8,276 Sqft
Lot Dimensions 66 x 132
Property Sub-Type Multi Family 5+
Property Description
206 S. Grove Street offers the opportunity to acquire a well-maintained 8-unit multifamily property in a highly desirable Urbana location just over one mile from the University of Illinois. Conveniently situated near downtown Urbana, Lincoln Square Mall, the Urbana Farmers Market, Carle Foundation Hospital, and major employment centers, the property appeals to a broad tenant base including students, healthcare professionals, university employees, and workforce renters. The property consists of eight spacious two-bedroom, one-bathroom apartments, each featuring a full kitchen, dining area, in-unit stackable laundry, and private patio or balcony access. Current ownership has completed numerous interior and exterior improvements, including updated flooring, bathroom renovations, cosmetic updates, exterior repairs, and a complete exterior repainting. Additional amenities include ample surface parking, mature landscaping, and a quiet residential setting. With recent capital improvements already completed and the potential for continued rental growth, 206 S. Grove Street represents an attractive investment opportunity in one of Central Illinois' strongest rental markets.
Location
State IL
County Champaign
Area Urbana
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Jon Fisher of MR. LANDMAN
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