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    1007 S Locust St Champaign, IL 61820

    For Sale
    $6,400,000

    Commercial Sale - Champaign, IL

    Property size:
    28,960 SF
    Lot size:
    0.53 Acres
    Days on Market:
    65
    Last Refresh:
    Dec 5 at 6:06 pm

    Property Features for 1007 S Locust St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    APN
    432013284015
    Size
    28,960 SF
    Lot size
    0.53 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1997
    Number of units
    29
    Architectural style
    Other

    Green Street Realty (217) 356-8750 [email protected]

    Listing agent Shannon Collins (217) 356-8750 License #475178418

    Listing date Oct 2, 2025

    MLS# 12463735 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Investment Near Campus

    The property is a multifamily investment opportunity located in a campus area. It is fully leased and contains 29 units with a total of 85 beds. The unit mix includes 13 four-bedroom units, 2 three-bedroom units, 13 two-bedroom units, and 1 one-bedroom unit. All units feature in-unit laundry and dishwashers, and most have private balconies. Unique layouts include 3-story deluxe units and 2-story townhomes with spiral staircases. Covered parking is available. Tenants are responsible for water, while electricity is included with a cap. An additional $35 per bed utility fee covers internet, trash, recycling, and UC sanitary services. Current leases run from August 18, 2025, through July 31, 2026, on a 12-installment schedule. The property, situated on a 0.53-acre lot, has a building size of 28960 square feet. The property is zoned MULTI and is suitable for student housing. Proforma projections show income exceeding $400K for 2025-2026.
    Property Profile Location Intelligence

    Current Use by Public Records

    Student housing

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.240648
    Latitude
    40.105864

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    FAQs

    What type of property is this?
    Apartment building - Value-add multifamily property with 29 units and 85 beds.
    Where is this apartment building located?
    The property is located at 1007 S Locust St Champaign, IL.
    What is the asking price?
    The asking price for this property is $6,400,000.
    What are key features of this property?
    This property features: - Fully leased 29-unit multifamily property with 85 beds in an unbeatable campus location.; - Strong cash flow with proforma projections exceeding $400K NOI for 2025-2026.; - Diverse unit mix including unique layouts like 3-story deluxe units and 2-story townhomes.
    (217) 356-8750
    Request Owner's contact information
    1007 S Locust St Champaign, IL 61820
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    Champaign, IL 61820
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1007 S Locust St Champaign, IL 61820
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