Champaign, IL Multifamily Properties for Sale

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Updated: Feb 10

Downtown Champaign Mixed-Use Building

320 N Neil Street, Champaign, IL 61820

$1,250,000

5,865 sqft 0.08 AC lot

Prime downtown location in Champaign's central business district (CB2 zoning).
Mixed‑use property with income‑generating two‑bedroom apartment, leased through 07/31/2026 at $1,800/month.
First floor configured for nightclub/bar use with existing 28' bar, sprinkler system, and handicap accessibility.
Spacious 5,865 SF above grade plus 1,620 SF basement with walk‑in cooler and storage.
Second‑floor apartment features 14' ceilings, fireplace, and separate HVAC and electrical service.

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This listing looks promising.

Here's a quick look at some key insights for

320 N Neil Street, Champaign, IL 61820

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Est. Cap Rate

3.3%
NOI ÷ price
Est. NOI

$41K
Annual
Mortgage

$1M
Aug 2023
Last Sold

Aug 2023
$1.25M

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Updated: May 10

Four-Unit Residential Income Building

403 W Columbia Avenue, Champaign, IL 61820

$274,000

0.20 AC lot

4‑unit multi‑family building with a mix of 1 bedroom/1 bathroom units
Units are numbered 1, 3, 4, and 5 (4 total units)
Rent increases on 3 of the 4 leases have already been agreed upon
Built in 1898
Public water and public sewer

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Champaign Multifamily Property For Sale

1011 W CHURCH Street, Champaign, IL 61821

$239,900

0.22 AC lot

Four-unit property with updates and redevelopment potential in Champaign, IL.

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Duplex with Basement and Garage

506 W William Street, Champaign, IL 61820

$225,000

1,282 sqft

Two-unit duplex with basement, covered porches, central air, and detached garage plus off-street parking.

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Turnkey 9-Unit Multifamily Investment

613 W Church Street, Champaign, IL 61820

$415,000

0.19 AC lot

Fully renovated 9-unit mix with private bathrooms and an on-site laundry room, supported by executed leases.

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Champaign Multifamily Building For Sale

1013 W Church Street, Champaign, IL 61820

$249,900

Six-unit building in Champaign, ideal for future development.

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1913 Historic Mixed-Use Building

41 E. University Avenue, Champaign, IL 61820

$3,850,000

0.29 AC lot

Built in 1913 with large windows and includes off-street parking plus ground-floor retail alongside office and residential space.

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Union Street Duplex Investment

1615-1617 West Union Street, Champaign, IL 61821

$320,000

2,260 sqft

Two attached units on West Union include attached 1-car garages, eat-in kitchens with deck access, and in-unit laundry closets.

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Spacious Townhomes Near University

1801 West John Street, Champaign, IL 61821

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45-unit townhome community near the University of Illinois.

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Based on your search, we've compiled 63 Potential Opportunities for your consideration. Besides 9 Active listings in Champaign, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 46 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Five-Unit Multifamily Property

716 Robinson Street, Danville, IL 61832

$129,900

0.35 AC lot

Five rent-ready units include four 2 bed/1 bath apartments and one 1 bed/1 bath unit.

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10-Bedroom Rooming House

805 W Oregon Street, Urbana, IL 61801

$349,900

Leased 10-bedroom rooming house in Urbana with parking and a lease term through July 2027.

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Leased Duplex Investment Property

703 W High Street, Urbana, IL 61801

$249,900

Two-unit duplex with both units leased through August 2027 and recent interior updates including 2025 paint.

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Centrally Located Multifamily Property

1003 N Franklin St, Danville, IL 61832

$79,900

1,400 sqft

Multifamily investment opportunity in a central location.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

University Park Developable Land

976 Mesa Court, University Park, IL 60484

Contact for pricing

3.20 AC lot

3.2 acres with 24 concrete housing pads in University Park.

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Wooded Homesite in Wheatfield, Indiana

4418 Oakland Court, Wheatfield, IN 46392

Contact for pricing

0.57 AC lot

Spacious, wooded 0.57-acre lot in established neighborhood.

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Commercial Land Development Parcel

17039 Hillside Lane, Jerseyville, IL 62052

$70,000

2.10 AC lot

Roughly two acres off Route 67 with utilities in place and an existing concrete pad for flexible development uses.

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Land For Sale, Lakemoor, IL

27 Oyster Bay, Lakemoor, IL 60051

Contact for pricing

0.12 AC lot

Commercial land available in Lakemoor, Illinois.

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Off-Market Properties in Champaign, IL

Consider similar Off-Market properties in Champaign, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

BOARDING/ROOMING HOUSE

105 Armory Ave, Champaign, IL 61820-6614

$2,000,000

Estimated value

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BOARDING/ROOMING HOUSE

303 John St, Champaign, IL 61820-5612

$2,100,000

Estimated value

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MOBILE HOME PARK, TRAILER PARK

4809 Windsor Rd, Champaign, IL 61822-9206

$8,955,000

Estimated value

35.00 AC lot

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MOBILE HOME PARK, TRAILER PARK

1301 Leverett Rd, Champaign, IL 61822-9412

Value Estimation by Request

5.70 AC lot

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BOARDING/ROOMING HOUSE

208 Daniel St, Champaign, IL 61820-6015

$5,775,000

Estimated value

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BOARDING/ROOMING HOUSE

301 Armory Ave, Champaign, IL 61820-6701

Value Estimation by Request

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MOBILE HOME PARK, TRAILER PARK

515 Edgebrook Dr, Champaign, IL 61820-2186

Value Estimation by Request

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MOBILE HOME PARK, TRAILER PARK

565 County Rd 1600th N, Champaign, IL 61822-8603

Value Estimation by Request

0.82 AC lot

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MOBILE HOME PARK, TRAILER PARK

565 County Rd 1600th N, Champaign, IL 61822-8603

Value Estimation by Request

1.78 AC lot

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BOARDING/ROOMING HOUSE

611 Daniel St, Champaign, IL 61820-6213

Value Estimation by Request

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BOARDING/ROOMING HOUSE

803 2nd St, Champaign, IL 61820-6018

Value Estimation by Request

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BOARDING/ROOMING HOUSE

1105 4th St, Champaign, IL 61820-6705

Value Estimation by Request

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BOARDING/ROOMING HOUSE

106 12th E Chalmers St, Champaign, IL 61820-6002

Value Estimation by Request

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BOARDING/ROOMING HOUSE

Champaign, IL 61820

Value Estimation by Request

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BOARDING/ROOMING HOUSE

310 Gregory Dr, Champaign, IL 61820-6733

Value Estimation by Request

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Champaign, IL Multifamily Properties Market Trends and Statistics

Explore 55 multifamily properties for sale in Champaign, IL, showcased through 9 active listings on our real estate platform. These investment opportunities span a total of 25,723 square feet of properties for sale, with an estimated market value of $3,470,000.

Sale prices for multifamily properties in Champaign, IL start at $225,000, averaging $1,156,666, and reaching up to $1,995,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 96K

Population Growth (5Y) +1.5%

Median Household Income $62,086

College Educated 42.5%

High-Yield Neighborhoods for Investment

Identify Champaign submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
61821	$235K
61820	$734.8K

Taxes & Financing

Tax Rate (average for all types) 8.86%

Property Tax per SF $37.00 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Champaign County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Champaign fall within the 100,000+ square foot range.

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Champaign, IL Multifamily Properties for Sale

320 N Neil Street, Champaign, IL 61820

403 W Columbia Avenue, Champaign, IL 61820

1011 W CHURCH Street, Champaign, IL 61821

506 W William Street, Champaign, IL 61820

613 W Church Street, Champaign, IL 61820

1013 W Church Street, Champaign, IL 61820

41 E. University Avenue, Champaign, IL 61820

1615-1617 West Union Street, Champaign, IL 61821

1801 West John Street, Champaign, IL 61821

Opportunities in Nearby Cities

716 Robinson Street, Danville, IL 61832

805 W Oregon Street, Urbana, IL 61801

703 W High Street, Urbana, IL 61801

1003 N Franklin St, Danville, IL 61832

Potential Development Sites for Consideration

976 Mesa Court, University Park, IL 60484

4418 Oakland Court, Wheatfield, IN 46392

17039 Hillside Lane, Jerseyville, IL 62052

27 Oyster Bay, Lakemoor, IL 60051

Off-Market Properties in Champaign, IL

105 Armory Ave, Champaign, IL 61820-6614

303 John St, Champaign, IL 61820-5612

4809 Windsor Rd, Champaign, IL 61822-9206

1301 Leverett Rd, Champaign, IL 61822-9412

208 Daniel St, Champaign, IL 61820-6015

301 Armory Ave, Champaign, IL 61820-6701

515 Edgebrook Dr, Champaign, IL 61820-2186

565 County Rd 1600th N, Champaign, IL 61822-8603

565 County Rd 1600th N, Champaign, IL 61822-8603

611 Daniel St, Champaign, IL 61820-6213

803 2nd St, Champaign, IL 61820-6018

1105 4th St, Champaign, IL 61820-6705

106 12th E Chalmers St, Champaign, IL 61820-6002

Champaign, IL 61820

310 Gregory Dr, Champaign, IL 61820-6733

Champaign, IL Multifamily Properties Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Property Size Breakdown

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