Urbana Multifamily
2008 Vawter Ave 1301 Mitchem Dr 1303 Mitchem Dr 2006 Vawter Ave 2004 Vawter Ave 2017 Vawter Ave, Urbana, IL 61801
Six-building, 77-unit multifamily portfolio in Urbana, Illinois.
Type:Multifamily
Property size:
600 SFPrice / SF:
$9,666/SF- Added:
- Dec 3, 2025
- Days on Market:
- 170
- Last Refresh:
- Apr 5 at 8:32 pm
Property Features for 2008 Vawter Ave 1301 Mitchem Dr 1303 Mitchem Dr 2006 Vawter Ave 2004 Vawter Ave 2017 Vawter Ave
General Information
- Standard status
- Active
- Size
- 600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing agent Paul Proano License #475170890
Listing office Coldwell Banker Commercial (312) 860-4043
Listing date Dec 3, 2025
Source Cbcworldwide
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 Coldwell Banker Commercial
HighLights
- Seller financing available with attractive interest‑only terms.
- Value‑add opportunity in a stable and growing rental market.
- Portfolio of 6 buildings, totaling 77 units, offering diversification.
- 65 units are fully rehabbed and ready for occupancy.
- All buildings are separately metered, with tenants paying their own electric and water.
- Located in Urbana, a resilient Midwestern market.
Overview
This offering features a six-building, 77-unit multifamily portfolio in Urbana, Illinois, presenting a value-add opportunity within a stable and growing rental market. The portfolio, located along Mitchem Drive and Vawter Avenue, includes a mix of one- to four-bedroom units. All buildings are separately metered, with tenants responsible for their own electric and water. The portfolio is targeting over 90% occupancy. Urbana is part of the Champaign-Urbana metro area, a resilient Midwestern market driven by the University of Illinois, Carle Foundation Hospital, and a growing tech and research presence. The metro remains attractive for both workforce and student housing demand, with solid absorption trends and long-term rental stability fueled by the area's institutional and employment anchors. Urbana combines small-city ease with proximity to major Midwest markets. At the core of the local economy is the University of Illinois Urbana-Champaign. Nearby Parkland College adds to the educational infrastructure. Healthcare is another key pillar of the area, with major systems like Carle Health alongside OSF Heart of Mary Medical Center and Christie Clinic. Urbana also sits at the forefront of tech innovation, supported by the University of Illinois Research Park. Residents enjoy access to more than 600 acres of parks and green space, a nationally recognized public library, and a lively cultural scene. With its mix of educational excellence, healthcare infrastructure, and technology growth, Urbana presents a strong foundation for multifamily investment in 2025 and beyond.
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Urbana
- County
- Champaign
- State
- Illinois
- Longitude
- -88.187
- Latitude
- 40.159
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-building, 77-unit multifamily portfolio in Urbana, Illinois.
Where is this apartment building located?
The property is located at 2008 Vawter Ave 1301 Mitchem Dr 1303 Mitchem Dr 2006 Vawter Ave 2004 Vawter Ave 2017 Vawter Ave Urbana, IL.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Seller financing available with attractive interest‑only terms.; Value‑add opportunity in a stable and growing rental market.; Portfolio of 6 buildings, totaling 77 units, offering diversification.
