1007 S Locust StreetChampaign, IL 61820
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.




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.
6 days ago | Listing updated with changes from the MLS® | |
6 days ago | Status changed to Active | |
3 weeks ago | Listing first seen on site |

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
MRED DMCA Copyright Information Copyright © 2025 Midwest Real Estate Data LLC. All rights reserved.
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.