Decatur Multifamily Investment
For Sale
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105 111 117 & 133 Elder Lane, Decatur, IL 62522
35-unit multifamily property in Decatur, Illinois with value-add potential.
Property SizeContact for details
Days on Market157
Property Features for 105 111 117 & 133 Elder Lane
General Information
Standard status
Active
Property subtype
Multifamily
Zoning
B-2
Building Details
Year Built
1964
Buildings
4
Listing Agency:
Main Place Real Estate
(217) 454-8800
Listed By:
Zane Peterson · License #471020044
Source:
Crexi
Added: Mar 17
Changed: Aug 10
Last Checked: Aug 20 at 7:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Main Place Real Estate
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 62522, IL
14,838
Population
7,215
Households
2.1
Avg Household Size
36
Median Age
26%
College-Educated
95%
High-School Grad
23.9 sq mi
ZIP Area
621
Density / Sq Mi
$51,689
Median Household Income
$36,551
Median Earnings
$783
Median Rent
$108,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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 105 111 117 & 133 Elder Lane Decatur, IL.
What is the asking price?
The asking price for this property is $2,130,000.
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.
