1007 S Locust St

Champaign, IL 61820

$6,400,000
Price
85
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
a view of a house with a yard
a front view of a residential apartment building with a yard
a living room with furniture a dining table and chairs
a kitchen with a refrigerator and a wooden cabinets
a bathroom with a sink a mirror and a bathtub
a room with a bed and a window
a kitchen with a dining table chairs and a refrigerator
wooden floor with a bed and a window
a bathroom with a sink a toilet and shower
a living room with a dresser and a window
a room with a window
a picture of a room with a cabinet
a view of a living room with a table and chairs
a living room with lots of furniture and clutter
a picture of a living room with furniture
a picture of a living room with furniture
a picture of a living room with furniture

Description

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...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.

Property Details for 1007 South Locust Street

Area
Champaign, Savoy
Township
Champaign
Air Conditioning Type
Central Air
Zoning
MULTI
LISTING UPDATED: 10/08/2025 12:07 AM

Property Details for 1007 South Locust Street

StatusActive
MLS #12463735
Days on Market81
Taxes$138,900 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Courtyard
Year Built1997
Lot Size0.53 AC / 23,054 SF
CountyChampaign County

Location

Listing Courtesy of Green Street Realty; Green Street Realty Branch
Add your commute

Building Information for 1007 South Locust Street

Stories3Residences29Year Built1997Building Size-Lot Size0.53 AC / 23,054 SF

Payment Calculator

$43,200 per month

30 year fixed, 6.28% Interest

Principal and Interest

$31,625

Property Taxes

$11,575

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1007 South Locust Street

General Information
Location and General Information
  • Frontage Type: City Street
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Heat/Ventilation: Electric,Forced Air
  • Num of Baths: 44.0
Exterior Features
  • Building Unit Info: Sprinkler System
  • Misc Outside: Balcony/ies,Patio
Utilities / Equipment
  • Water: Community Water
  • Utilities: Sewer Connected
Property/Lot Information
  • Built Before 1978: No
  • Approximate Age: 16-25 Years
  • Multi-Family Type: Courtyard
  • Lot Size Source: County Records
  • Lot Dimensions: 58.5x58.5x58.5x132
  • Lot Size Square Feet: 23054.0
  • Stories: 3
  • Construction: Wood, Vinyl Siding, Brick Veneer
  • Fire Protection: Sprinklers
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 28960
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 18
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 29
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $754,290.00
  • Gross Scheduled Income: $754,290.00
  • Insurance Expense: $.00
  • Maintenance Expense: $.00
  • Manager Expense: $.00
  • Expense Year: 2025
  • Total Annual Expense Source: Owner Projection
  • Janitor Expense: 0
  • Total Monthly Income: 62858
  • Net Operating Income: $404,207.00
  • Operating Expense: $350,082.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 13
Unit 3
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 2
Unit 4
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 4
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 13
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 1007 South Locust Street

DateEvent & SourcePriceAppreciation
Oct 2, 2025

Listed (Active)

MRED #12463735

$6,400,000—
Sep 3, 2015

Sold

MRED #09425738

$5,125,000—
Jul 29, 2015

Pending

MRED #09425738

—
Mar 12, 2015

Listed (Active)

MRED #09425738

$5,699,000—
Jul 31, 2009

Expired

MRED #09533707

$5,369,400—
Jul 10, 2007

Listed (Active)

MRED #09533707

$5,369,400—
DateEvent & SourcePrice
10/02/2025

Listed (Active)

MRED #12463735

$6,400,000
09/03/2015

Sold

MRED #09425738

$5,125,000
07/29/2015

Pending

MRED #09425738

—
03/12/2015

Listed (Active)

MRED #09425738

$5,699,000
07/31/2009

Expired

MRED #09533707

$5,369,400
07/10/2007

Listed (Active)

MRED #09533707

$5,369,400

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1007 South Locust Street

Taxable ValueLand$338,430Additions$1,254,370Total$1,592,800
Tax Record2022$150,531 ($12,544 / month)
Home Facts
Total Finished SqFt54,328 SqFtAbove Grade Finished SqFt54,328 SqFtStyleMulti-Family Res (5+ Units)CountyCHAMPAIGNAPN432013284015

Schools near 1007 South Locust Street

This home is within Champaign Community Unit School District 4.
Rating
School
Type
Grades
Distance
Actions Program
Public - K to 12
Central High School
Public - 9 to 12
Carrie Busey Elementary School
Public - K to 5
Vernon L Barkstall Elementary School
Public - K to 5
Rating
School
Distance
Actions Program
PublicK to 12

Central High School
Public9 to 12

Carrie Busey Elementary School
PublicK to 5

Vernon L Barkstall Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1007 South Locust Street, Champaign, IL 61820

1007 South Locust Street is a multi-family home for sale in Champaign, IL 61820. This property was listed for sale on October 2, 2025 by Green Street Realty, it's currently listed at $6,400,000. It has been on the market for a total of 81 days and was last sold on September 3, 2015. This listing's school district is Champaign Community Unit School District 4. Nearby schools include Actions Program, Central High School and Carrie Busey Elementary School. 1007 South Locust Street is a 85-bed, 44-bath, multi-family home built in 1997.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Green Street Realty; Green Street Realty Branch

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 10/08/2025 12:07 AM. 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.