105-111 S Elder Ln

Decatur, IL 62522

$2,130,000
Price
—
Beds
—
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
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per Sq. Ft.
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Description

Introducing a prime multifamily investment opportunity in Decatur, Illinois. The property consists of 35 units across four parcels, featuring four freestanding buildings, including a duplex that contains the superintendent unit. Constructed between 1964 and 1967, the buildings are a combination of brick, mortar, and frame construction and are zoned B-2 with multifamily permitted use. The property is located on the far west side of Decatur, near lifestyle amenities including the 180+ acre Fairview...Introducing a prime multifamily investment opportunity in Decatur, Illinois. The property consists of 35 units across four parcels, featuring four freestanding buildings, including a duplex that contains the superintendent unit. Constructed between 1964 and 1967, the buildings are a combination of brick, mortar, and frame construction and are zoned B-2 with multifamily permitted use. The property is located on the far west side of Decatur, near lifestyle amenities including the 180+ acre Fairview Park, nearby bicycle and walking trails, and the campus-town shops and restaurants surrounding Millikin University. Current ownership has completed select capital improvements, with approximately 25 of the 35 units cosmetically updated, demonstrating measurable rental increases and improved operating performance. Majority of units are two bedrooms. With additional units remaining to be renovated, the property offers continued value-add potential for investors seeking stable income.
  1. Listed by Zane Peterson • Main Place Real Estate
    P: (217)-454-8800 C: (217)-454-8800 zane@mainplace.us

Property Details for 105-111 South Elder Lane

Subdivision Name
West View Add 04
Has Waterfront
No
Zoning
B-2
LISTING UPDATED: 05/11/2026 12:45 PM

Property Details for 105-111 South Elder Lane

StatusActive
MLS #6257557
Days on Market56
Taxes$15,590 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1964
Lot Size0.50 AC / 21,780 SF
CountyMacon County
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Location

Listing Courtesy of Main Place Real Estate
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Building Information for 105-111 South Elder Lane

Stories3Residences35Year Built1964Building Size-Lot Size0.50 AC / 21,780 SF

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$11,913 per month

30 year fixed, 6.36% Interest

Principal and Interest

$10,614

Property Taxes

$1,299

HOA Dues

$0

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Property Information for 105-111 South Elder Lane

Summary
Location and General Information
  • Latitude: 39.842419
  • Longitude: -88.999808
Taxes and HOA
  • Parcel Number: 04-12-17-254-010
  • Tax Annual Amount: $15,590.00
  • Tax Year: 2024
School Information
  • Elementary School District: Decatur Dist 61
  • High School District: Decatur Dist 61
  • Middle Or Junior School District: Decatur Dist 61
Parking
  • Carport Spaces: 30.0
  • Carport: Yes
  • Garage: No
Property
Lot Information
  • Lot Size Acres: 0.5
  • Lot Size Area: 0.5
  • Lot Size Units: Acres
  • Lot Size Square Feet: 21780.0
Property and Assessments
  • Living Area Source: Public Records
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1964
  • Year Built Source: Public Records
Building Features
  • Levels: Three Or More
  • Roof: Other
  • Stories: 3
  • Total Stories: 3
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Appliances: Water Heater
  • Cooling: Central Air, Window Unit(s)
  • Has Cooling: Yes
Multi Family
Multi Family Information
  • Number Of Units Total: 35
Income & Expenses
  • Gross Scheduled Income: $260,678
  • Net Operating Income: $128,884
  • Operating Expense: $131,794.32

Property History for 105-111 South Elder Lane

DateEvent & SourcePriceAppreciation
May 11, 2026

Price Change

Central Illinois Board of REALTORS #6257557

$2,130,000—
Mar 17, 2026

Listed (Active)

Central Illinois Board of REALTORS #6257557

$2,340,000—
DateEvent & SourcePrice
05/11/2026

Price Change

Central Illinois Board of REALTORS #6257557

$2,130,000
03/17/2026

Listed (Active)

Central Illinois Board of REALTORS #6257557

$2,340,000

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

Schools near 105-111 South Elder Lane

This home is within Decatur School District 61.
Rating
School
Type
Grades
Distance
Dennis Lab School
Public - K to 8
Macarthur High School
Public - 9 to 12
Benjamin Franklin Elementary School
Public - K to 6
American Dreamer STEM Academy
Public - K to 8
Rating
School
Distance
Dennis Lab School
PublicK to 8

Macarthur High School
Public9 to 12

Benjamin Franklin Elementary School
PublicK to 6

American Dreamer STEM Academy
PublicK to 8

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 105-111 South Elder Lane, Decatur, IL 62522

105-111 South Elder Lane is a multi-family home for sale in Decatur, IL 62522. This property was listed for sale on March 18, 2026 by Main Place Real Estate, it's currently listed at $2,130,000. This listing's school district is Decatur School District 61. Nearby schools include Dennis Lab School, Macarthur High School and Benjamin Franklin Elementary School. 105-111 South Elder Lane is a 0-bed, 0-bath, multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim 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 seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Main Place Real Estate

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of Central Illinois Board of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright ©2026 Central Illinois Board of REALTORS®. All rights reserved.