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105 Elder Ln Decatur, IL 62522

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35-unit multifamily property in Decatur, Illinois with value-add potential.

Lot size:
1.68 Acres

Property Features for 105 Elder Ln

General Information

Standard status
Active
Zoning
B-2
Lot size
1.68 Acres

Building Details

Year built
1964

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Listing Contact
Zane Peterson
Source: Crexi

Listing Agency: Main Place Real Estate Listing Agent: Zane Peterson

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Decatur Multifamily Investment Opportunity

This multifamily investment opportunity is located in Decatur, Illinois, and comprises 35 units situated across four parcels. The property includes four freestanding buildings, one of which is a duplex containing the superintendent unit. Constructed between 1964 and 1967, the buildings feature a combination of brick, mortar, and frame construction. The property is zoned B-2 with multifamily permitted use. It is located on the far west side of Decatur, near the 180+ acre Fairview Park, bicycle and walking trails, and the shops and restaurants surrounding Millikin University. Select capital improvements have been completed by the current ownership, with approximately 25 of the 35 units cosmetically updated. These renovations have demonstrated measurable rental increases and improved operating performance. The majority of units feature two bedrooms. With additional units remaining to be renovated, the property offers continued value-add potential for investors seeking stable income and the opportunity to further enhance rents and long-term portfolio performance.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Restaurant Law Firm Dental Office Building Supply Pharmacy Kitchen & Bath Showroom Department Store Bar & Pub Daycare Center

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

Location Insight

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City
Decatur
County
Macon
State
Illinois
Longitude
-88.9997583
Latitude
39.8424144

FAQs

What type of property is this?
Apartment building - 35-unit multifamily property in Decatur, Illinois with value-add potential.
Where is this apartment building located?
The property is located at 105 Elder Ln Decatur, IL.
What are key features of this property?
This property features: - Prime multifamily investment opportunity with 35 units across four parcels.; - Approximately 25 of 35 units cosmetically updated, demonstrating measurable rental increases.; - Value-add potential through renovation of remaining units to further increase rents.
More about this property
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