112 W Hill Street Champaign, IL 61820
Historic building with residential and commercial spaces in downtown Champaign.
Type:Mixed Use
Property size:
18,576 SF- Added:
- Jan 20, 2025
- Days on Market:
- 456
- Last Refresh:
- Apr 1 at 8:18 pm
Property Features for 112 W Hill Street
General Information
- Standard status
- Active
- Size
- 18,576 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1897
Listing agent Jeremy Brandow
Listing office Coldwell Banker R.E. Group (217) 351-1988
Listing date Jan 20, 2025
Source Xome
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All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker R.E. Group
Overview
Downtown Champaign Mixed-Use Building
Located in downtown Champaign, across from the Hill Street Parking Deck and near restaurants and nightlife, this historic building offers an investment opportunity. The Richardsonian building, once the "The Women's Town Club" hotel and later owned by Senator McKinley, now houses residential multi-family and commercial tenant spaces. The commercial space is currently occupied by the owner's business. The building features 6 luxury 2-bedroom residential apartments, ranging from 980 to 1400 sqft, which are currently 100% leased. Updates include zoned HVAC, 800 Amp electrical service, new plumbing, a recently added freight elevator and a historic passenger elevator, a new roof, thermopane windows, brick tuck-pointing, restored vintage and reproduction light fixtures, doors and windows, preserved tile flooring, and original woodworking. A sprinkler system fire-protects the entire building, and the ceiling separating the commercial space from the residential apartments above has a 2-hour fire rating. The first and second floor commercial space could be leased as a whole or split into multiple spaces. The apartments on the 3rd and 4th floors have room for rent increases, and additional residential units could be added. They feature cherry cabinets and high-end finishes, with some including tin ceilings and 100+-year-old pine floors. New windows were recently installed, and each unit features a washer and dryer. Unit 302 is multi-story, with the second bedroom accessible via a spiral staircase. The commercial space features a three story tall back loft which was opened from the first floor to the top of the 3rd floor. The building has potential as an event center space with parking in the parking deck. As a Historic Landmark, federal and state historical tax credits are available for future renovation and construction expenses.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
The Organ Loft Apartments.
Real Estate Agency
Buzard Pipe Organ ...
Production Facility
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.244149
- Latitude
- 40.119495
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Historic building with residential and commercial spaces in downtown Champaign.
Where is this mixed-use property located?
The property is located at 112 W Hill Street Champaign, IL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Prime downtown location across from a parking deck, near restaurants and nightlife.; Historic Landmark status qualifies for potential federal and state historical tax credits (up to 45% of improvement costs).; Fully leased residential units with potential for significant rent increases and additional unit development.
