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1008 Busey Ave Urbana, IL 61801

For Sale
$479,000

Charming Urbana apartment building, excellent location.

Description

Added:
Feb 3, 2025
Days on Market:
307
This well-maintained multi-family property at 1008 S Busey Avenue in Urbana, Illinois, presents a compelling investment opportunity. The building boasts a prime location, just one block from Lincoln Avenue and six blocks north of Florida Avenue, offering convenient access to local amenities and the University of Illinois. The property comprises four spacious two-bedroom units, one bright two-bedroom garden unit, and a studio unit, ensuring consistent occupancy. Each unit benefits from ample off-street parking, including dedicated bike racks, a significant advantage for student tenants. The building's classic charm is evident in its hardwood doors, floors, and trim, creating a desirable living environment. A shared washer and dryer in the basement adds to tenant convenience. The property also features a secondary exterior back staircase leading to attic storage, offering potential for future expansion or owner use. The apartments are in excellent condition and have a history of strong tenant occupancy, ensuring a reliable income stream. This property is an ideal investment for those seeking a well-located, income-producing multi-family asset with significant potential. The asking price is $479,000. The lot size is 0 acres. The property is classified as General Commercial.

Property Features for 1008 Busey Ave

General Information

Property type
Other commercial real estate

Building Details

Year Built
1900

Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
Urbana
County
Champaign
State
Illinois
Longitude
-88.21735
Latitude
40.10403

FAQs

What type of property is this?
Commercial real estate - Charming Urbana apartment building, excellent location.
Where is this commercial real estate located?
The property is located at 1008 Busey Ave Urbana, IL.
What is the asking price?
The asking price for this property is $479,000.
More about this property
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