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$6,400,000
20 Days On Site

1007 S Locust Street
Champaign, IL 61820

For Sale|Multi Family|Active
0
Beds
0
Total Baths
28,960
SqFt
$221
/SqFt
1997
Built
County:
Champaign
Listing Courtesy of MRED as distributed by MLS Grid of Green Street Realty

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1007 S Locust Street1007 S Locust Street1007 S Locust Street1007 S Locust Street
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The Castle on Locust presents a prime value-add multifamily investment opportunity in an unbeatable campus location. Fully leased with 29 units and 85 total beds, this property offers a diverse mix of 13 four-bedroom units, 2 three-bedroom units, 13 two-bedroom units, and 1 one-bedroom unit. Featuring in-unit laundry and dishwashers in all units, most with private balconies, the building also includes unique layouts such as 3-story deluxe units and 2-story townhomes with spiral staircases. Covered parking is available, and tenants pay water while electricity is included with a cap. An additional $35 per bed utility fee covers internet, trash, recycling, and UC sanitary services. Current leases run from August 18, 2025, through July 31, 2026, on a 12-installment schedule. With NOI consistently increasing and proforma projections showing income exceeding $400K for 2025-2026, this fully occupied property is a rare opportunity to acquire a well-maintained, high-demand student housing asset with strong cash flow and long-term upside.

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Listing Snapshot
Price 
$6,400,000
Days On Site 
20 Days
Bedrooms 
N/A
Inside Area (SqFt) 
28,960 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.53 Acres
Year Built 
1997
MLS® Number 
12463735
Status 
Active
Property Tax 
$138,900
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
6 days agoListing updated with changes from the MLS®
6 days agoStatus changed to Active
3 weeks agoListing first seen on site
General Features
Acres 
0.53
Foundation 
Concrete Perimeter
Number Of Stories 
3
Property Sub Type 
Multi Family
SqFt Total 
28960
Utilities 
Sewer Connected
Zoning 
MULTI
Interior Features
Cooling 
Central Air
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Exterior Features
Construction Details 
Vinyl SidingBrick Veneer
Community Features
MLS Area 
Champaign, Savoy
Township 
Champaign
Listing Courtesy of MRED as distributed by MLS Grid of Green Street Realty



Based on information submitted to the MLS GRID as of 2025-10-13 09:43 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2025-10-13 09:43 PM UTC
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