1204 Lincoln AveUrbana, IL 61801

Property Details for 1204 Lincoln Ave

Property type

Residential income homes

Property subtype

Serviced apartments

APN

932117304001

APU

932117304001

Description

This exceptional 17,000 square foot property, situated on a 0.44-acre lot at 1204 S. Lincoln Ave (cross streets: Indiana/Lincoln) in Urbana, Illinois (zip code 61801), presents a unique investment opportunity. Built in 1918, this three-story building was originally designed as a fraternity house, but its R-7 University Residential Zoning allows for diverse uses, including boarding houses, dormitories, community living facilities, and more. The well-maintained structure boasts 15 second-floor bedrooms and 9 third-floor bedrooms, all with dorm-style bathrooms. The main floor features a spacious living room, a sunroom/courtroom, a television room, a formal dining room, and a commercial-grade kitchen, ideal for catering or communal dining. The basement provides ample storage and a laundry room. With its prime location near the University of Illinois campus, this property offers convenient access to shopping and restaurants. The building's significant size (17,000 square feet) and versatile zoning make it an attractive prospect for various uses, promising strong rental income potential. Currently vacant, this property is ready for immediate occupancy and redevelopment. This is a rare chance to acquire a substantial property in a high-demand area.

Location Insight

City

Urbana

County

Champaign

State

Illinois

Latitude

40.1025

Longitude

-88.2188

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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