Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1740-1760 S Fairview Ave Decatur, IL 62521

    Under Contract
    For Sale
    $2,350,000

    Commercial Sale - Decatur, IL

    Property size:
    12,720 SF
    Days on Market:
    38
    Last Refresh:
    Dec 14 at 1:06 pm

    Property Features for 1740-1760 S Fairview Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    041221428010
    Size
    12,720 SF

    Building Details

    Year built
    1979
    Number of units
    61
    Architectural style
    Other

    eXp Realty, LLC (888) 574-9405 [email protected]

    Listing agent Nate Evans (217) 239-7113 License #475124281

    Listing date Nov 7, 2025

    MLS# 12309051 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

    65-Unit Multifamily Investment Opportunity

    This 65-unit residential property, totaling 12720 square feet, presents a prime investment opportunity. Located approximately 1.5 miles from Millikin University in Decatur, IL, the property offers strong income potential. The property is priced based on existing income figures, reflecting the current 66% occupancy rate, which presents a significant upside for investors. Some units have been recently renovated, providing modern living spaces attractive to both students and local residents, enhancing the rental potential. Value-add opportunities include increasing occupancy and completing the laundry room, which is expected to enhance tenant satisfaction and generate additional income. The property offers immediate income and long-term appreciation potential, making it a turnkey opportunity for experienced investors or those looking to expand their portfolio.
    Property Profile Location Intelligence

    Current Use by Public Records

    Student housing

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Pharmacy Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.9764038
    Latitude
    39.822677

    Nearby Similar for Sale

    • $539,000

      Decatur Industrial Warehouse with Offices

      Industrial warehouse with office space on a fenced 5-acre lot.
      2627 Route 121 N, Decatur, IL 62526
      View Details
    • $800,000
      14,500 SF

      Mixed-Use Property with Income Potential

      Value-add investment opportunity in Decatur's downtown commercial corridor.
      334 W Main St, Decatur, IL 62522
      View Details
    • $5,700,000
      179 SF

      Decatur Warehousing Facility For Sale

      179,393 SF warehousing facility in Decatur, Illinois. Vacant possession.
      3030-3130 E Parkway Dr, Decatur, IL 62526
      View Details
    • $1,247,500
      10,160 SF

      Decatur Commercial Investment Opportunity

      Well-maintained commercial property with established tenants and strong returns.
      3090 N Main St, Decatur, IL 62526
      View Details
    • $825,000
      32,995 SF

      Industrial Warehouse on 2.84 Acres

      32,995 SF industrial warehouse on 2.84 acres for sale.
      2881 E Parkway Dr, Decatur, IL 62526
      View Details
    • $650,000
      19 SF

      Decatur Industrial Building with Yard

      Industrial property featuring three structures and a fenced laydown yard.
      765 E Pythian Ave, Decatur, IL 62526
      View Details

    FAQs

    What type of property is this?
    Apartment building - Income-producing multifamily property near Millikin University with value-add potential.
    Where is this apartment building located?
    The property is located at 1740-1760 S Fairview Ave Decatur, IL.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: - High-yield investment opportunity with an attractive 7.71% cap rate and a 6.95 GRM.; - Located just 1.5 miles from Millikin University, attracting both students and local residents.; - Significant value-add potential through increased occupancy from the current 66%.
    (217) 239-7113
    Request Owner's contact information
    1740-1760 S Fairview Ave Decatur, IL 62521
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1740-1760 S Fairview Ave
    Decatur, IL 62521
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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
    1740-1760 S Fairview Ave Decatur, IL 62521
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.