1601 N Willow Road Urbana, IL $ 3,825,000
1601 N Willow Road
$ 3,825,000
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1601 N Willow Road

Urbana, IL, 61801
$ 3,825,000
Bedrooms3 Baths0.0 Sq 51,046

Monthly Estimate*

$ 25,422

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Multi-Family Home for sale in Urbana, IL

for $3,825,000 with 3 bedrooms. This 51,046 square foot home was built in 1974 on a lot size of 2.

Offering two building multi-family complex in Urbana, IL one block west of Cunningham Avenue and just south of the Interstate 74 interchange. Property is situated on the northwest corner of Country Club Road and Willow Road in Urbana. The property boasts 51 apartments comprised of 22 one-bedroom units and 29 two-bedroom units Most of the units have been renovated and refreshed with 15 units undergoing renovations currently. Current ownership has invested over $1,200,000 in renovations/repairs since 2022. Each building has a shared laundry facilities on the second floor for one-bedroom units to utilize, while two-bedroom units have washer/dryer within the units. Apartments are very spacious, and upgrades include new flooring, painting, kitchen upgrades, new appliances. The entire exterior of this property has been improved including new roof, siding, windows, painting and much more. A large courtyard is situated between the two buildings providing an area for tenants to relax and creates a sense of community. The on-site parking lot accommodates 82 vehicles. The property is located near Crystal Lake Park, Busey Woods, Anita Pervis Nature Center and Urbana Country Club. These outdoor facilities are within walking distance and provides recreational opportunities for tenants.

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Multi-Family Active

Price

$ 3,825,000

Bedrooms

3

Property Type

Multi-Family

Taxes

$ 68,603

Style

Lot Size

2

Year Built

1974

Town/City

Urbana

County/Region

Champaign

MLS | Web ID

12056636

Features
General
Roof Composition
Zoning MULTI
Year Built 1974
Tenant Pays Air Conditioning Electricity Heat
Stories 2
Tax Year 2023
Gross Income 306296
County Champaign
Net Operating Income 67359
Operating Expense 238936
Insurance Expense 15358
Property Type Commercial Sale Multi Family 5+
Status Active
Directions South on Cunningham. Right on Perkins Rd. Buildings on the right side of the road.
City Urbana
NumberOfUnitsTotal 51
MLS Area Urbana
Lot Size Square Feet 87120
Street Name Willow
Tax Annual Amount 68603
Electric Expense 23049
Fuel Expense 0
Trash Expense 14856
Water Sewer Expense 17316
Additional Parcels Y/N N
Days on Market 8
Standard Status Active
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Exterior
Building Area Total 51046
Lot Dimensions 233.5 X 330.45
Lot Size Acres 2
Exterior Vinyl Siding
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Interior
Street Suffix Road
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* Excluded Features
List By
Guth & Associates,Llc

Broker

jake@guthandassociates.com

Email

Affordability Calculator

$31,139
Per Month
82%
18%
0%
Monthly Principal & Interest
$25,422
Monthly Property Taxes
$5,717
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/15/2024$3,825,000 Listed Price

Map


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1601 N Willow Road, Urbana, IL, 61801 is a Multi-Family Home for sale at $3,825,000 with 51,046 sqft and a lot size of 2. 1601 N Willow Road has 3 bedrooms, 0.0 baths, and was built in 1974. The property's zip code is 61801 which is in Urbana, IL