202 S Grove Street Urbana, IL ^$ 275,000

202 S Grove Street

^$ 275,000

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202 S Grove Street

Urbana, IL, 61802

^$ 275,000

Bedrooms5 Baths0.0

Monthly Estimate*

^$ 1,716

202 S Grove Street, Urbana, IL 61802 - Image 1

202 S Grove Street, Urbana, IL 61802 - Image 2

202 S Grove Street, Urbana, IL 61802 - Image 3

202 S Grove Street, Urbana, IL 61802 - Image 4

202 S Grove Street, Urbana, IL 61802 - Image 5

202 S Grove Street, Urbana, IL 61802 - Image 6

202 S Grove Street, Urbana, IL 61802 - Image 7

202 S Grove Street, Urbana, IL 61802 - Image 8

202 S Grove Street, Urbana, IL 61802 - Image 9

Multi-Family Home for sale in Urbana, IL

for $275,000 with 5 bedrooms. This home was built in 1913 on a lot size of 0.23.

Expand your rental portfolio with 202 S Grove, a fully leased 5-unit building near downtown Urbana. Each unit is a one-bedroom, one-bath with its own kitchen. Three units were recently remodeled, and the other two have long-term tenants. Tenants pay individually metered electric and gas, while water, sewer, and heat are covered by a monthly utility credit. The seller has completed more than $60,000 in capital improvements, including a new high-efficiency hot water radiant heat boiler, a new roof, exterior painting, and full remodels of three units. Located on a large corner lot with R-4 zoning, the property delivers immediate income and offers strong potential for future development or continued value-add work.

Multi-Family Active

Price

^$ 275,000

Bedrooms

Property Type

Multi-Family

Taxes

^$ 4,552

Style

Lot Size

0.23

Year Built

1913

Town/City

Urbana

County/Region

Champaign

MLS | Web ID

12488685

Features

General

Cooling Window Unit(s)

Possession Tenant's Rights

Zoning MULTI

Construction Materials Stucco

Year Built 1913

Tenant Pays Electricity

Stories Count 2

Township Cunningham

Tax Year 2024

Gross Income 45948

County Champaign

Net Operating Income 25685

Operating Expense 15710

Insurance Expense 4220

Property Type Commercial Sale Multi Family 5+

MaintenanceExpense 0

Status Active

Directions From S Vine turn East on Elm St.

City Urbana

Number Of Units Total 5

MLS Area Urbana

Lot Size Square Feet 9930

Tax Annual Amount 4552.64

Electric Expense 568

Fuel Expense 2804

Trash Expense 506

Water Sewer Expense 2112

Additional Parcels Y/N N

Standard Status Active

Cap Rate 9.34

Exterior

Foundation Details Block Concrete Perimeter

Lot Dimensions 66X124

Lot Size Acres 0.23

* Excluded Features

List By

Keller Williams-Trec

Broker

joe@zalabakhomes.com

Affordability Calculator

$2,095

Per Month

Monthly Principal & Interest: $1,716
Monthly Property Taxes: $379
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% 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

Trends
Schools

Multi-family listings in Urbana, IL

Average List Price ^$356,111

Percent of Sale Price 29%

About Urbana, IL

41,987 Population

11% Since 2002

^$39,331 Median Income

26.41 Median Age

16% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

565567 Elementary School

567955 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
10/6/2025	$275,000		Listed Price

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202 S Grove Street, Urbana, IL, 61802 is a Multi-Family Home for sale at $275,000 with a lot size of 0.23. 202 S Grove Street has 5 bedrooms, 0.0 baths, and was built in 1913. The property's zip code is 61802 which is in Urbana, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% 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.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Data is updated as of 12/13/2025.

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202 S Grove Street

Multi-Family Home for sale in Urbana, IL

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