Multifamily Property with
New
For Sale
$2,500,000
705 E Colorado Avenue, Urbana, IL 61801
Commercial Sale, Urbana, IL
Property SizeContact for details
Lot Size0.87 Acres
Days on Market1
Property Features for 705 E Colorado Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULTI
Bedrooms
48
Bathrooms
29
Full bathrooms
29
Rooms
Bedroom 8, Bedroom 39, Bathroom 11, Bedroom 11, Bedroom 17, Bedroom 4, Bathroom 13, Bedroom 23, Bathroom 2, Bedroom 25, Bathroom 17, Bedroom 28, Bathroom 28, Bathroom 24, Bedroom 31, Bedroom 30, Bedroom 20, Bedroom 34, Bedroom 10, Bedroom 15, Bedroom 26, Bedroom 7, Bedroom 13, Bedroom 18, Bedroom 9, Bedroom 44, Bathroom 27, Bedroom 47, Bathroom 3, Bathroom 9, Bathroom 19, Bedroom 24, Bedroom 27, Bathroom 5, Bedroom 14, Bathroom 8, Bedroom 48, Bedroom 41, Bedroom 46, Bedroom 5, Bathroom 21, Bathroom 25, Bathroom 29, Bathroom 15, Bedroom 37, Bathroom 10, Bedroom 45, Bedroom 36, Bathroom 22, Bathroom 20, Bedroom 6, Bedroom 43, Bedroom 19, Bedroom 22, Bedroom 21, Bathroom 26, Bedroom 16, Bedroom 33, Bathroom 1, Bedroom 2, Bathroom 7, Bedroom 38, Bathroom 18, Bedroom 29, Bathroom 16, Bedroom 32, Bedroom 40, Bedroom 42, Bathroom 6, Bathroom 23, Bedroom 1, Bathroom 14, Bathroom 4, Bedroom 12, Bathroom 12, Bedroom 3, Bedroom 35
Directions
Florida, South on S Anderson, East on Colorado
Subdivision
Urbana
Standard status
Active
APN
932121152042
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT COMMONS COLORADO OAKS CONDO
Tax Annual Amount
71846
Legal Description
LOT COMMONS COLORADO OAKS CONDO
Utilities
Cooling system
Central Air
Amenities
secured entry
fiberoptic internet access
Building Details
Year built
1977
Floors in Building
3
Number of units
26
Building materials
Wood
Listing Agency:
Green Street Realty
(217) 356-8750
Listed By:
Shannon Collins · License #475178418
(217) 493-3776
Added: Sep 24
Last Checked: Sep 24 at 11:06PM
MLS# 12751949
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes apartments and townhouses with 1-, 2-, and 3-bedroom configurations. The 1977-built property has central air, secured entry, off-street parking, and fiber-optic internet access in every apartment. It occupies 0.87 acres and is zoned MULTI.
Transit stops on the Red line are half a block away, while Green St is two blocks away; both routes connect to the downtown central terminal and the University of Illinois campus. Grocery and convenience shopping are nearby.
Transit stops on the Red line are half a block away, while Green St is two blocks away; both routes connect to the downtown central terminal and the University of Illinois campus. Grocery and convenience shopping are nearby.
Key Highlights
- Apartments and townhouses with 1-, 2-, and 3‑bedroom layouts
- 0.87‑acre site zoned MULTI
- Built in 1977 with central air
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
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Business Placement
Demographics for 61801, IL
27,658
Population
13,468
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,122
Density / Sq Mi
$37,948
Median Household Income
$26,394
Median Earnings
$950
Median Rent
$184,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - The rental community offers varied apartment and townhouse layouts, secured entry, and off-street parking.
Where is this apartment building located?
The property is located at 705 E Colorado Avenue Urbana, IL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Apartments and townhouses with 1-, 2-, and 3‑bedroom layouts; 0.87‑acre site zoned MULTI; Built in 1977 with central air
