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    3000 Philo Rd Urbana, IL 61801

    For Sale
    $2,654,982

    24 Acres, Prime Residential Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 24.38-acre parcel presents a remarkable opportunity for multi-family development in Urbana, Illinois. Situated within the desirable Stone Creek Commons area, this fee-simple property boasts three parcels offering frontage onto a picturesque pond. Its convenient location places it within walking distance of The Pines retail center, providing future residents with easy access to shopping, dining, and essential services. Stone Creek Commons itself features attractive amenities including two ponds, walking trails, mature trees, and landscaped areas, enhancing the overall appeal and livability of the community. The property enjoys excellent connectivity via Windsor Road, a major arterial street providing direct access to Champaign, Urbana, and the University of Illinois. Nearby amenities include Meijer, Carle Clinic, Christie Clinic, and Little Heart and Hands Daycare, catering to a wide range of resident needs. The surrounding area is characterized by established residential neighborhoods and is conveniently located near the Atkins Golf Club. The property is zoned Residential 4 and includes parcels 93-12-28-200-018, 019, and 035. This prime location, coupled with its substantial size and desirable features, makes this an exceptional investment opportunity for developers seeking to create a thriving multi-family community. The asking price is $2,654,982.

    Property Features for 3000 Philo Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    1,061,993 SF

    HighLights

    • $2,654,982 asking price.
    • 24.38 acres of multi‑family development land.
    • Residential 4 zoning.
    • Located in Urbana, IL, near Windsor and Philo Roads.
    • Fee simple ownership.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Nail Salon Building Supply Clothing Store Gym & Fitness Pharmacy Wholesale Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.188519
    Latitude
    40.079518

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    FAQs

    What type of property is this?
    Multifamily property - 24 Acres, Prime Residential Location
    Where is this multifamily property located?
    The property is located at 3000 Philo Rd Urbana, IL.
    What is the asking price?
    The asking price for this property is $2,654,982.
    What are key features of this property?
    This property features: $2,654,982 asking price.; 24.38 acres of multi-family development land.; Residential 4 zoning.
    (217) 355-2545
    Request Owner's contact information
    3000 Philo Rd Urbana, IL 61801
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    Urbana, IL 61801
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3000 Philo Rd Urbana, IL 61801
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