Address
1001 Francis Drive, Champaign, IL
Price
$ 6,500,000
Property Attributes
  • MLS#11834165
  • TypeMulti-Family
  • CountyCHAMPAIGN
  • CityChampaign
  • AreaChampaign - Savoy
  • 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

Cooling Central Individual
Zoning MULTI
Year Built 1970
Tenant Pays Air Conditioning,Electricity,Heat
Stories 3
Tax Year 2022
Gross Income 834000
County Champaign
Net Operating Income 414880
Operating Expense 419120
Insurance Expense 30000
Property Type Commercial Sale
Status Active
Directions HWY 74 exit Prospect Ave and turn right onto Francis Dr.
City Champaign
NumberOfUnitsTotal 102
MLS Area Champaign,Savoy
Street Name Francis
Tax Annual Amount 115345
Electric Expense 13871
Fuel Expense 13271
Trash Expense 11455
Water Sewer Expense 40490
Additional Parcels Y/N Yes
Virtual Tour https://tours.databasedads.com/4502501/1001-Francis-Drive-Champaign-IL?u=1
Days on Market 23
Standard Status Active
Property Type Multi Family 5+

Interior Features

Street Suffix Drive

Exterior Features

Building Area Total 60330
Lot Dimensions 3
Lot Size Acres 3

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
AVG $6.5M
$6.5M
Taxes
AVG $115,345
$115,345
Visits
AVG 1052
1053
Data Provided by Inside Real Estate®
Year Built
AVG 1970
1970
Walkscore
AVG 72
72
Data Provided by Walkscore® not using MLS data