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8 Apartment Condos 8 Apartment Condos 8 Apartment Condos 8 Apartment Condos 8 Apartment Condos 8 Apartment Condos 8 Apartment Condos 8 Apartment Condos 8 Apartment Condos

Property Overview

Price/Rent PSF $ 1,250,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 9,360
Date Available 02/02/2021
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Description

Location
The subject is located one block east of Lincoln Avenue, on the northeast periphery of the U of I campus. Land use patterns within the subject area are of a residential nature with both single and multifamily developments in the area. The site is situated in the northwest corner of the intersection of Springfield Avenue and Busey Avenue.



Champaign and Urbana are twin cities in Champaign County and are located in the heart of East Central Illinois. Champaign-Urbana is a Big Ten community and growing tech center. The University of Illinois has been the dominant force in making C-U a high tech area. The University has one of the few supercomputer bases in the country. This has helped to attract additional businesses. C-U connects with Interstates I-57, I-72, and I-74. It is also home to the Parkland College, and two major regional hospitals, Carle Foundation and OSF Healthcare. Champaign County is a leader in education, health care, government, technology, industry and agriculture. Chicago is approximately 2 hours north, Indianapolis is approximately 2 hours west and St. Louis is approximately 2 1/2 hours south.

Sale
The properties consists of approximately 16,117 SqFt . The zoning is R-5. There are 2 buildings. Combine there is an estimated of 9,360 SqFT of gross living area. There are 8 units in total with two buildings being built in 1981 and one in 1985. The 8 units consists on 7 rooms with 3 bedrooms and 2 bathrooms with 1,170 sqFt each, catering to the U of I student market.



Each unit has similar floor plans and finishes. The unit have an individual entry with an attached garage. There is a finished basement area with a bedroom. The loft areas have vaulted ceilings with skylights. Each unit has two bathrooms



Addresses:


801 W. Stoughton St, 107 and 109 N. Busey Ave. and 802 W. Springfield Ave.



Brief Legal: Units 1 -8 in Busey Commons in the City of Urbana, Champaign County, Illinois


Real Estate Taxes:$ 23,750.88

Location

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