218 W Main Street, Urbana, IL 61801
Champaign County
Key Facts
Description
FULLY RENOVATED AND FULLY LEASED! This historic downtown Urbana, Illinois "Stephen's Building" has been fully modernized and redesigned to today's living standards! The first floor offers 2 separate commercial spaces. The larger Westside suite is 2375 Sq. Ft. with an unfinished basement for additional storage space. This suite is currently rented for $2400/mo. The East commercial space is 1500 Sq. Ft. and rented for $1326/mo (discounted has been $2100/mo.) Upstairs you will find 4 fully renovated 2 bed/2bath apartments. Each apartment features stainless appliances, hardwood and tile flooring, stacked laundry in each unit. The remodel was able to leave beautiful historic brick walls exposed and other original features. The building features industrial-style exposed HVAC. The residential access to the building is secure. The 4 apartments currently generate over $5869/mo of rental income. The building does not come with parking, however there is a City permit lot directly adjacent.
Property Information
Property Type
Commercial Sale
Sub-Type
Mixed Use
Year Built
1900
Stories
2
Living Area
7,750 sq ft
Lot Size
5,061 sq ft
Lot Dimensions
48x110X44x116
Days on Market
265
MLS® Listing#
12491245
Property Features
Cooling
Flooring
Construction
Foundation
Roof
Financial Details
Annual Taxes
$15,604
Tax year 2024
Parcel Number
922117201001
Directions
Premium Location On Main st. in downtown Urbana directly north of Busey Bank, 2-3 blocks to Courthouse
Affordability Calculator
$199,000
Estimated monthly payment
$5,296/mo
Principal $796,000 · Est. interest $1,110,491 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Urbana, IL
- $338,889
- Median Listing Price
- 51
- Median Days on Market
- 1,845
- Median Sq Ft
- $172
- Median Price / Sq Ft
- 82
- Active Listings
- This home’s price is 194% above the area median.
- Its price per sq ft is 25% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Urbana, IL.
Location
Points of Interest in Urbana, IL
Showing the Urbana area map.
Nearby Schools
Urbana School District 116
Secondary · 0.1 mi away
Canaan Academy
School · 0.1 mi away
Campus Middle School
School · 0.2 mi away
Leal Elementary School
Elementary · 0.3 mi away
Illinois Leadership Center
School · 0.4 mi away
Urbana Head Start
School · 0.6 mi away
Center for Advanced Study
School · 0.6 mi away
Urbana High School
Secondary · 0.6 mi away
Urbana Middle School
Secondary · 0.7 mi away
Urbana School District #116
School · 0.8 mi away
Circle Academy
School · 0.8 mi away
University Laboratory High School
Secondary School · 0.8 mi away
M L King Junior Elementary School
Elementary · 0.9 mi away
University of Illinois Foundation
School · 0.9 mi away
Department of Anthropology
School · 0.9 mi away
Gerber School
School · 1.0 mi away
Urbana School District 116
School · 1.0 mi away
Career Center
School · 1.0 mi away
Wiley Elementary School
Elementary · 1.1 mi away
Office of the Dean of Students
School · 1.1 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 506 W California Avenue, Urbana, IL | $699,000 | 4 | 4 | 3,374 |
| 3020 Beringer Circle, Urbana, IL | $699,900 | 3 | 4 | 2,218 |
| 1209 E Colorado Avenue, Urbana, IL | $725,000 | — | — | 4,312 |
| 503 W Green Street, Urbana, IL | $749,900 | — | — | — |
| 1655 Phillips Woods Lane, Urbana, IL | $750,000 | 4 | 3 | 3,093 |
| 2610 Castlerock Drive, Urbana, IL | $750,000 | 4 | 4 | 4,054 |
Moving Cost Estimate
EXIT Agents in Urbana
Listing Courtesy: Champaign County Realty - 2173521234
Last Updated: 2025-10-08