University Of Illinois Campus
$2,695,000
1204 S. Lincoln Avenue, Urbana, IL 61801
17,255 sqft
Building Size
0.434 acres
Lot Area
Details:
Highlights:
- Prime Campus Location
- 17,255 SF 3 Story-Brick Building
- 65 Beds & Finished Basement
- NOI pro forma 204,000 annually (1,700/month) NNN
- 7.57% Cap Rate
- Good Condition
- Close To University Facilities, Retail, Restaurants
Description:
Site is 18,900 SF rectangular lot. The building is 17,255 SF. It is 3 story brick fraternity house for Kappa Delta. It is legally conforming use of the R-7 zoning, University Residential. The site is served by public utilities. 12 parking spaces on concrete lot. It was build in 1918 with significant improvements in 1927, 1963 and 1982. The unit mix consist of 1 single, 15 doubles, 4 triples, and 5 quads. It has finished basement designed with a meeting room, laundry and storage space.
The NOI is pro forma $204,000 annually($17,000/month) absolute NNN, which will make it a 7.57% cap rate.
Brief Legal: North 25 feet of Lot 2 and all of Lots 3 and 4 in Lincoln Place Subdivision, Champaign County, Urbana, Illinois
Real Estate Taxes 2019: $32,346.94
The subject is located at the southeast corner of intersection of Lincoln Ave. and Indiana Ave. The site is in a prime section of campus, near University facilities and directly across the street from McKinley Health Center. University facilities exist to the west along with minor retail shops and a church adjacent to the south. Single family residential use dominates to the east.
Location
Gallery
