Address
1001 Francis Drive, Champaign, IL
Price
$ 6,500,000
Property Attributes
- MLS#11834165
- TypeMulti-Family
- CountyCHAMPAIGN
- CityChampaign
- AreaChampaign - Savoy
- NeighborhoodWilbur Heights
- Zip61821
- Style
- Year Built1970
- Taxes$ 115345
- Price$ 6,500,000
- Bedrooms3
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage60330
- Lot Size3 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Presenting Garden Court, an exceptional 102-unit multi-family property strategically located just 4 miles from the University of Illinois in Champaign-Urbana. The property, nestled with trees and foliage, offers a mix of 66 spacious two-bedroom, 1.1 bath units and 36 one-bedroom, one bath units. Approximately 50% of the residents are graduate students from the nearby university, giving the property a stable and robust tenant base, indicative of a reliable and consistent rental market. This well-maintained property guarantees easy commuting with swift access to Interstates 74 and 57. It further enhances resident convenience with 145 dedicated parking spaces. Proximity to a variety of shopping outlets and restaurants creates an ideal balance of urban convenience and suburban tranquility, adding significantly to Garden Court's appeal. In summary, Garden Court presents a unique blend of strategic location, diverse accommodations, and a stable tenant base, making it a rare and lucrative investment opportunity. Its closeness to the University of Illinois, ease of transportation, abundant parking, and the array of nearby amenities all contribute to its charm, creating an inviting and sustainable living environment that ensures a solid ROI for potential buyers.
| Price History | |
|---|---|
| 7/17/2023 | Listed $6,500,000 |
General Features
| Additional Parcels Y/N | Yes |
|---|---|
| City | Champaign |
| Cooling | Central Individual |
| County | Champaign |
| Days on Market | 18 |
| Directions | HWY 74 exit Prospect Ave and turn right onto Francis Dr. |
| Electric Expense | 13871 |
| Fuel Expense | 13271 |
| Gross Income | 834000 |
| Insurance Expense | 30000 |
| MLS Area | Champaign, Savoy |
| Net Operating Income | 414880 |
| Operating Expense | 419120 |
| Property Type | Commercial Sale |
| Property Type | Multi Family 5+ |
| Standard Status | Active |
| Status | Active |
| Stories | 3 |
| Street Name | Francis |
| Tax Annual Amount | 115345 |
| Tax Year | 2022 |
| Tenant Pays | Air Conditioning, Electricity, Heat |
| Total Units | 102 |
| Trash Expense | 11455 |
| Virtual Tour | https://tours.databasedads.com/4502501/1001-Francis-Drive-Champaign-IL?u=1 |
| Water Sewer Expense | 40490 |
| Year Built | 1970 |
| Zoning | MULTI |
Interior Features
| Street Suffix | Drive |
|---|
Exterior Features
| Building Area Total | 60330 |
|---|---|
| Lot Dimensions | 3 |
| Lot Size Acres | 3 |
| Total Parking | 145 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 61821
Price
Taxes
Visits
Year Built
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