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    511 W Oregon St Urbana, IL 61801

    For Sale
    $210,000

    Residential Income - Urbana, IL

    Lot size:
    0.25 Acres
    Days on Market:
    15
    Last Refresh:
    Dec 7 at 3:06 pm

    Property Features for 511 W Oregon St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    LNC
    Rooms
    Bedroom 1, Bedroom 2
    Bedrooms
    2
    APN
    922117161008
    Parking
    6
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Natural Gas, Steam

    Building Details

    Year built
    1918
    Roof type
    Asphalt
    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 Nov 23, 2025

    MLS# 12515372 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

    All-Brick Investment Property Near Campus

    Located just three blocks from the University of Illinois campus, 511 W Oregon Street is an all-brick, three-unit residential income property. The building features one three-bedroom, one-bath unit on the main level, and two one-bedroom, one-bath units upstairs. The layout is designed for quick and consistent leasing. Tenants are responsible for all utilities, including building heat. A new high-efficiency hot water boiler is scheduled for installation in 2025. The property includes a large off-street parking area located behind the building. The lot size is 0.25 acres. The zoning is LNC. This property is located in Urbana, Illinois.
    Property Profile 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
    -88.2142811
    Latitude
    40.107096

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    FAQs

    What type of property is this?
    Apartment building - Three-unit property near University of Illinois with dependable performance.
    Where is this apartment building located?
    The property is located at 511 W Oregon St Urbana, IL.
    What is the asking price?
    The asking price for this property is $210,000.
    What are key features of this property?
    This property features: - Prime location: Just 3 blocks from the University of Illinois campus.; - Strong rental demand: Units consistently lease quickly.; - Tenants pay all utilities, including heat.
    (217) 356-6100
    Request Owner's contact information
    511 W Oregon St Urbana, IL 61801
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    Urbana, IL 61801
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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

    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
    511 W Oregon St Urbana, IL 61801
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