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Property profile & analytics

617 Springfield Ave Champaign, IL 61820

  • Commercial real estate
  • 0.18 lot acres
OFF-MARKET
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US28-5718937
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Commercial real estate

Property Details for 617 Springfield Ave

Year built
1903
Lot size
0.18 lot acres
Property type
Commercial real estate

Description

This exceptional investment opportunity presents a fully occupied five-unit multifamily building situated at 617 W Springfield Avenue in Champaign, Illinois. The property sits on a 0.18-acre lot and is priced at $275,000. Each unit is a one-bedroom apartment, complete with its own private kitchen and bathroom, offering tenants comfortable and independent living spaces. Two units have recently undergone complete renovations, ensuring modern amenities and attractive rental rates. The remaining three units boast long-term, stable tenants, providing immediate and consistent cash flow. Significant improvements were completed in 2024, including a fresh coat of exterior paint, upgraded back porches, and enhanced landscaping, significantly boosting the property's curb appeal and extending its lifespan. A convenient coin-operated laundry facility is located in the basement for tenant use. Individual electric meters ensure fair and accurate billing for each unit, while water, sewer, and natural gas are included in the monthly rent, simplifying management and maximizing rental income. This property represents a strong, low-maintenance investment in a highly desirable Champaign location, just minutes from the vibrant downtown area. The combination of updated units, long-term tenants, and recent exterior improvements makes this a truly compelling opportunity for investors seeking a stable and profitable addition to their portfolio. The property's prime location and strong tenant occupancy guarantee a high return on investment.


Value Estimations

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Location Insight

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  • Local Demand
City
Champaign
County
Champaign
State
Illinois
Longitude
-88.25381
Latitude
40.11241
More about this property
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