Decatur Multifamily Investment
105 111 117 & 133 Elder Lane, Decatur, IL 62522
35-unit multifamily property in Decatur, Illinois with value-add potential.
Type:Multifamily
- Added:
- Mar 17, 2026
- Days on Market:
- 57
- Last Refresh:
- Mar 20 at 12:00 am
Property Features for 105 111 117 & 133 Elder Lane
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing agent Zane Peterson License #481.010682
Listing office Main Place Real Estate
Listing date Mar 17, 2026
Source Crexi
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
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.
- Majority of units are two bedrooms.
- Zoned B‑2 with multifamily permitted use.
- Located near Fairview Park, bicycle/walking trails, and Millikin University's shops and restaurants.
Overview
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9997583
- Latitude
- 39.8424144
Nearby Similar for Sale
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 105 111 117 & 133 Elder Lane Decatur, IL.
What is the asking price?
The asking price for this property is $2,340,000.
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.
