Corner Apartment Building with
212 W High Street Urbana, IL 61801
For Sale
$410,000
Fully leased corner apartment building with five one-bedroom units, covered parking, and coin-operated basement laundry.
Property Size2,204 SF
Price / SF$186.03
Days on Market388
Property Features for 212 W High Street
General Information
- Standard status
- Active
- Size
- 2,204 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1893
Listing Agency:
RE/MAX REALTY ASSOCIATES-CHA
(217) 417-6745
Listed By:
Kimberly Krisman-Clark · License #475132428
(217) 417-6745
Source:
Xome
Added: Jul 1, 2025
Changed: Jul 23
Last Checked: Jul 23 at 1:26PM
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 RE/MAX REALTY ASSOCIATES-CHA
Investment Insights
Based on property information with market context.
212 W High Street in Urbana, IL presents a fully leased, corner-lot multifamily building featuring five one-bedroom, one-bath units. The property includes a wrap-around front porch and four covered parking spaces, with additional space described for a fifth tenant and guests.
Laundry is available via coin-operated facilities located in the basement. The owner’s responsibilities are stated as heat, water, garbage, lawn care, and sewer, while tenants pay their own electric.
A basement unit has been noted as having new flooring throughout and recently painted finishes. The building is reported as leased through July 2026.
Laundry is available via coin-operated facilities located in the basement. The owner’s responsibilities are stated as heat, water, garbage, lawn care, and sewer, while tenants pay their own electric.
A basement unit has been noted as having new flooring throughout and recently painted finishes. The building is reported as leased through July 2026.
Key Highlights
- Fully leased corner apartment building with five 1‑bedroom, 1‑bath units (212 W High).
- Coin‑operated laundry in the basement.
- Tenants pay electric; owner covers heat, water, garbage, lawncare, and sewer.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.5k | $14.76 |
| − Vacancy | −$1.6k | −$0.74 |
| EGI | $30.9k | $14.02 |
| − OpEx | −$13.9k | −$6.31 |
| NOI | $17.0k | $7.71 |
2,204 SF · lease $14.76/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$242.8K
$212.5K – $283.3K
NOI $16,997 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$458.5K
$401.2K – $535.0K
NOI $32,097 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully leased corner apartment building with five one-bedroom units, covered parking, and coin-operated basement laundry.
Where is this apartment building located?
The property is located at 212 W High Street Urbana, IL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Fully leased corner apartment building with five 1‑bedroom, 1‑bath units (212 W High).; Coin‑operated laundry in the basement.; Tenants pay electric; owner covers heat, water, garbage, lawncare, and sewer.
