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202 S Grove St Urbana, IL 61802

For Sale
$275,000

Commercial Sale - Urbana, IL

Lot size:
0.23 Acres
Days on Market:
62
Last Refresh:
Dec 5 at 4:06 am

Property Features for 202 S Grove St

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Zoning
MULTI
APN
922117236001
Lot size
0.23 Acres

Utilities

Cooling system
Multi Units, Window Unit(s)

Building Details

Year built
1913
Number of units
5
Architectural style
Other

Keller Williams The Real Estate Center of Illinois, LLC (217) 356-6100 [email protected]

Listing agent Joe Zalabak (217) 356-6100 License #475151471

Listing date Oct 5, 2025

MLS# 12488685 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

Fully Leased Urbana Multifamily Property

Located near downtown Urbana, this fully leased 5-unit building at 202 S Grove offers an opportunity to expand your rental portfolio. Each unit features one bedroom and one bathroom, complete with its own kitchen. The property sits on a large corner lot with R-4 zoning, presenting potential for future development or continued value-add projects. Three of the units have been recently remodeled, while the remaining two are occupied by long-term tenants. Tenants are responsible for individually metered electric and gas, while water, sewer, and heat expenses are covered by a monthly utility credit. The seller has invested over $60,000 in capital improvements, including a new high-efficiency hot water radiant heat boiler, a new roof, exterior painting, and complete remodels of three units, ensuring immediate income.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Urbana
County
Champaign
State
Illinois
Longitude
-88.201014
Latitude
40.111584

FAQs

What type of property is this?
Apartment building - Five-unit building near downtown Urbana, fully leased with remodeling.
Where is this apartment building located?
The property is located at 202 S Grove St Urbana, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: - Fully leased 5-unit building provides immediate income.; - Three units recently remodeled.; - Over $60,000 in capital improvements completed, including a new roof and high-efficiency boiler.
More about this property
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