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    617 W Springfield Ave Champaign, IL 61820

    New
    Under Contract
    For Sale
    $299,900

    Commercial Sale - Champaign, IL

    Lot size:
    0.18 Acres
    Days on Market:
    3
    Last Refresh:
    Dec 6 at 4:06 pm

    Property Features for 617 W Springfield Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    MULTI
    APN
    432013126003
    Lot size
    0.18 Acres

    Utilities

    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1903
    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 Dec 4, 2025

    MLS# 12485512 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

    Champaign Multifamily Investment Opportunity

    Located minutes from downtown Champaign, 617 W Springfield is a five-unit building, each featuring one bedroom, a kitchen, and a bathroom. Two of the units have been recently remodeled. The remaining three units are occupied by long-term tenants, presenting opportunities for rent increases. The property has undergone several updates, including a full exterior repainting, back porch upgrades, a new water heater, a new furnace, and landscaping improvements. These enhancements contribute to the property's curb appeal and longevity. A coin-operated laundry is located in the basement. Each unit has individually metered electricity. Water, sewer, and natural gas are included in a monthly utility charge that is part of the rent. The property is zoned MULTI and situated on a 0.18-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.253805
    Latitude
    40.112358

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    FAQs

    What type of property is this?
    Apartment building - Five-unit building near downtown Champaign with recent upgrades.
    Where is this apartment building located?
    The property is located at 617 W Springfield Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Prime location minutes from downtown Champaign.; - Five individual one-bedroom units, each with its own kitchen and bathroom.; - Two recently remodeled units.
    (217) 356-6100
    Request Owner's contact information
    617 W Springfield Ave 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

    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
    617 W Springfield Ave Champaign, IL 61820
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