206 Grove St

Urbana, IL 61802

$949,000
Price
16
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
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Description

206 s. Grove Street offers the opportunity to acquire a well-maintained 8-unit multifamily property in a highly desirable Urbana location just over one mile from the University of Illinois. Conveniently situated near downtown Urbana, Lincoln Square Mall, the Urbana Farmers Market, Carle Foundation Hospital, and major employment centers, the property appeals to a broad tenant base including students, healthcare professionals, university employees, and workforce renters. The property consists of eight...206 s. Grove Street offers the opportunity to acquire a well-maintained 8-unit multifamily property in a highly desirable Urbana location just over one mile from the University of Illinois. Conveniently situated near downtown Urbana, Lincoln Square Mall, the Urbana Farmers Market, Carle Foundation Hospital, and major employment centers, the property appeals to a broad tenant base including students, healthcare professionals, university employees, and workforce renters. The property consists of eight spacious two-bedroom, one-bathroom apartments, each featuring a full kitchen, dining area, in-unit stackable laundry, and private patio or balcony access. Current ownership has completed numerous interior and exterior improvements, including updated flooring, bathroom renovations, cosmetic updates, exterior repairs, and a complete exterior repainting. Additional amenities include ample surface parking, mature landscaping, and a quiet residential setting. With recent capital improvements already completed and the potential for continued rental growth, 206 S. Grove Street represents an attractive investment opportunity in one of Central Illinois' strongest rental markets.
  1. Listed by Jon Fisher • MR. LANDMAN
    P: (217)-202-0924 C: (217)-202-0924 jonfisher1991@gmail.com

Property Details for 206 Grove Street

Area
Urbana
Township
Cunningham
Zoning
MULTI
LISTING UPDATED: 06/11/2026 03:06 AM

Property Details for 206 Grove Street

StatusNew
MLS #12673682
Days on Market4
Taxes$13,703 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1976
Lot Size0.19 AC / 8,192 SF
CountyChampaign County
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Location

Listing Courtesy of MR. LANDMAN
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Building Information for 206 Grove Street

Stories2Residences8Year Built1976Building Size-Lot Size0.19 AC / 8,192 SF

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$5,871 per month

30 year fixed, 6.36% Interest

Principal and Interest

$4,729

Property Taxes

$1,142

HOA Dues

$0

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Property Information for 206 Grove Street

General Information
Location and General Information
  • Frontage Type: City Street
  • Information: No Sign on Property
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Separate Per Unit
  • Num of Baths: 8.0
Exterior Features
  • Building Unit Info: No Units Furnished
Property/Lot Information
  • Owners Association: No
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Garden Complex
  • Lot Size Source: County Records
  • Lot Dimensions: 66 x 132
  • Lot Size Square Feet: 8192.0
  • Stories: 2
  • Building Area Total: 7200
  • Flood Zone: No
Property and Assessments
  • Possible Use: Multi-Family
  • Public Document Count: 0
  • Photos Count: 13
  • Habitable Residence: Yes
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $86,280.00
  • Insurance Expense: $.00
  • Maintenance Expense: $.00
  • Expense Year: 2025
  • Total Annual Expense Source: Actual
  • Janitor Expense: 0
  • Total Monthly Income: 7190
  • Net Operating Income: $56,746.00
  • Operating Expense: $29,534.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 8
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
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 206 Grove Street

DateEvent & SourcePriceAppreciation
Jun 10, 2026

Listed (Active)

MRED #12673682

$949,000—
DateEvent & SourcePrice
06/10/2026

Listed (Active)

MRED #12673682

$949,000

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

Schools near 206 Grove Street

This home is within Urbana School District 116.
Rating
School
Type
Grades
Distance
Leal Elementary School
Public - K to 5
Urbana Middle School
Public - 6 to 8
Urbana High School
Public - 9 to 12
Urbana Gerber School
Public - K to 12
Rating
School
Distance
Leal Elementary School
PublicK to 5

Urbana Middle School
Public6 to 8

Urbana High School
Public9 to 12

Urbana Gerber School
PublicK to 12

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 206 Grove Street, Urbana, IL 61802

206 Grove Street is a multi-family home for sale in Urbana, IL 61802. This property was listed for sale on June 10, 2026 by MR. LANDMAN, it's currently listed at $949,000. This listing's school district is Urbana School District 116. Nearby schools include Leal Elementary School, Urbana Middle School and Urbana High School. 206 Grove Street is a 16-bed, 8-bath, multi-family home built in 1976.

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 MR. LANDMAN

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 06/11/2026 03:06 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.