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    1942 County Rd, Unit 3000N Rantoul, IL 61866

    View on Map
    Sponsored
    For Sale
    $695,000

    MULTI_FAMILY - Rantoul, IL

    Lot size:
    1.45 Acres
    Days on Market:
    13
    Last Refresh:
    Mar 7 at 4:06 pm

    Property Features for 1942 County Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 11, Bathroom 16, Bedroom 12, Bathroom 5, Bathroom 10, Bedroom 5, Bathroom 14, Bedroom 13, Bedroom 7, Bedroom 6, Bedroom 1, Bedroom 10, Bedroom 17, Bedroom 3, Bedroom 2, Bedroom 18, Bathroom 3, Bedroom 16, Bathroom 13, Bedroom 14, Bedroom 15, Bedroom 4, Bathroom 4, Bedroom 20, Bedroom 19, Bathroom 11, Bathroom 15, Bathroom 2, Bedroom 8, Bathroom 7, Bathroom 9, Bedroom 9, Bathroom 1, Bathroom 6, Bathroom 8, Bathroom 12
    Bedrooms
    20
    APN
    110432300020
    Lot size
    1.45 Acres

    Utilities

    Sewer type
    Septic Tank
    Cooling system
    Window Unit(s)
    Water source
    Well

    Building Details

    Year built
    1968
    Floors in Building
    2
    Number of units
    16
    Building materials
    Brick
    Roof type
    Membrane

    We can help!

    Listing Contact
    Herman Fogal
    Herman Fogal

    Realty 2000, Inc. (217) 892-2000

    Listing agent Herman Fogal (217) 840-1941

    Listing date Feb 23, 2026

    MLS# 12353416 Listing URL

    Copyright © 2026 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.

    Learn more

    Property Insight Report

    Overview

    Rantoul Multifamily Investment Opportunity

    This well-maintained apartment complex features two all-brick buildings with rolled rubber roofs, comprising a total of 16 units. The property is an income-producing asset with a strong maintenance record and rental appeal. The south building contains four two-bedroom apartments and two one-bedroom apartments, while the north building includes ten one-bedroom units. Each apartment is equipped with electric heat, an electric water heater, and an electric cooking range; there is no gas service to the units. The property is serviced by its own well and septic systems, with new septic systems installed in 2017 and 2022. All apartments include either window or wall-mounted air conditioning units. The owner provides refrigerators, ranges, and A/C units. Tenants are responsible for all utilities. Ample parking is available directly in front of the buildings. Situated in Rantoul, Illinois, the property occupies a 1.45-acre lot in Champaign County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Rantoul
    County
    Champaign
    State
    Illinois
    Longitude
    -88.090128
    Latitude
    40.312845

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 16-unit apartment complex in Rantoul, Illinois.
    Where is this apartment building located?
    The property is located at 1942 County Rd, Unit 3000N Rantoul, IL.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: - Solid, income-producing 16-unit apartment complex with a strong maintenance record and excellent rental appeal.; - Tenants are responsible for all utilities, resulting in a low-maintenance investment for the owner.; - New septic systems installed in 2017 and 2022, ensuring reliable infrastructure.
    (217) 840-1941
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    1942 County Rd, Unit 3000N Rantoul, IL 61866
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    Rantoul, IL 61866
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1942 County Rd, Unit 3000N Rantoul, IL 61866
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    We can help!
    Listing Contact
    Herman Fogal
    Herman Fogal
    Real Estate License ID: 475098977
    (217) 840-1941 (217) 892-2000
    Learn more
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