50 Unit Apartment Building in Charleston
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Listing was updated on: 02/07/2021
Property Overview
| Price/Rent PSF | $ 2,995,000.00 |
| Asset Type | Multifamily |
| Trade Type | Sale |
| SQ. FT. Available | 71,871 |
| Date Available | 02/03/2021 |
| Additional URL | Link |
| Floors | 4 |
| Additional parameters | Show |
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Description
Location
The subject property is located on 4th street. The primary roadways providing access to the subject include Lincoln Avenue, also known as Illinois 16, which lies to the south of the property, and is a main east-west traffic artery. Interstate 57 lies seven miles to the west of Charleston and Illinois 130, also known as 18th Street. Roadways running through the campus areas, including 4th street.
Charleston is the seat of Coles County and the home of Eastern Illinois University, as well as Lakeland College. The subject areas are generally student-oriented, including restaurants, fast food, retail and service uses, mainly along arterial street. Multifamily residential uses predominate within a few blocks of the campus. Charleston is in east-central Illinois. This is a rural area of the state, with metropolitan centers of Chicago 165 miles south of the north, St. Louis 115 miles southwest and Indianapolis 120 miles east. Nearby employment centers include Champaign 40 miles to the north, Decatur 50 miles to the northwest, and Springfield 80 miles to the northwest.
Sale
The property site is 56,247 Sq.Ft. The four story building consists in 71,871 Sq.Ft. with 50 unit apartment building, (34) three-bedroom one bath units, (1) three-bedroom three bath unit, (9) two-bedroom two bath units, and (6) one-bedroom one bath units . The building have a sprinkler system and security door. The northern two parcel are zoned R-3, Limited Multi-Family. The others are zoned C-2, General Commercial. The subject property is all served by public utilities, including sanitary sewer, city water and public electricity.
Real Estate Taxes 2019: $61,102
Brief Legal:
Parcel I, 1309 4ih Street:
The West 90 feet of the West end off of Lot Seven (7) of AR. Bails' Addition to the City of Charleston, Coles County, Illinois
Parcel II, 403 Buchanan:
The East 25 feet of the West 115 feet of the West end of Lot Seven (7) of A.R. Bails' Addition to the City of Charleston, Coles County, Illinois
Parcel III, 130 l 4ih Street:
Lot Eleven (I!) of McGurty's Subdivision of Lot Two (2) of Connolly's Second (2nd) Addition to Charleston, Coles County, Illinois
Parcel IV, 1307 4th Street:
Lot Twelve (12) of McGurty's Subdivision of Lot Two (2) of Connolly's Second (2"d) Addition to Charleston, Coles County, Illinois
Parcel V, 1133 4th Street:
J.E. McGurty's Subdivision of Lot Two (2) of Connolly's Second (2"d) Addition to Charleston, Coles County, Illinois, Block!, Lot Ten (10), 58' South Side
Location