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705 E Colorado Avenue Urbana, IL $ 2,500,000
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$ 2,500,000 Get more info
705 E Colorado Avenue
$ 2,500,000
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705 E Colorado Avenue

Urbana, IL, 61801
$ 2,500,000
Bedrooms8 Baths0.0 Sq 31,602

Monthly Estimate*

$ 15,785

705 E Colorado Avenue, Urbana, IL 61801 - Image 1

Multi-Family Home for sale in Urbana, IL

for $2,500,000 with 8 bedrooms. This 31,602 square foot home was built in 1977 on a lot size of 0.87.

Don't miss your chance to own this well-situated apartment complex! It is perfectly placed in a quiet Urbana neighborhood, but still close to everything Champaign-Urbana has to offer! This building features 1, 2 and 3 bedroom apartments and townhouses. Secured entry and free off-street parking. It is a half block to the Red line and 2 blocks to the Green St, both take you to the central terminal downtown and to the University of Illinois campus. Grocery and convenience shopping nearby and there is fiberoptic internet access to every apartment. This is a great investment opportunity!

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Multi-Family Active

Price

$ 2,500,000

Bedrooms

8

Property Type

Multi-Family

Taxes

$ 71,846

Style

Multi-Family

Lot Size

0.87

Year Built

1977

Town/City

Urbana

County/Region

Champaign

MLS | Web ID

12751949
Features
General
Cooling Central Air
Possession Closing
Zoning MULTI
Construction Materials Wood
Year Built 1977
Tenant Pays Varies by Tenant
Stories Count 3
Township Cunningham
Tax Year 2025
Current Use Multi-Family
Gross Income 335000
County Champaign
Net Operating Income 191943
Operating Expense 161323
Insurance Expense 0
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 0
Possible Use Multi-Family
Status Active
Directions Florida South on S Anderson East on Colorado
City Urbana
Number Of Units Total 26
MLS Area Urbana
Tax Annual Amount 71846.08
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N N
Standard Status Active
Cap Rate 7.8
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Exterior
Building Area Total 31602
Lot Dimensions 145.5 X 260.15
Lot Size Acres 0.87
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* Excluded Features
List By
Green Street Realty

Broker

shannon.collins@greenstrealty.com

Email

Affordability Calculator

$21,772
Per Month
73%
27%
0%
Monthly Principal & Interest
$15,785
Monthly Property Taxes
$5,987
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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
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Pricing History
DatePricePrice ChangeDescription
9/24/2026$2,500,000 Listed Price

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705 E Colorado Avenue, Urbana, IL, 61801 is a Multi-Family Home for sale at $2,500,000 with 31,602 sqft and a lot size of 0.87. 705 E Colorado Avenue has 8 bedrooms, 0.0 baths, and was built in 1977. The property's zip code is 61801 which is in Urbana, IL

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