1601 North Willow Road

Urbana, IL 61801

$3,825,000
Price
80
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Offering two building multi-family complex in Urbana, IL one block west of Cunningham Avenue and just south of the Interstate 74 interchange. Property is situated on the northwest corner of Country Club Road and Willow Road in Urbana. The property boasts 51 apartments comprised of 22 one-bedroom units and 29 two-bedroom units Most of the units have been renovated and refreshed with 15 units undergoing renovations currently. Current ownership has invested over $1,200,000 in renovations/repairs since...Offering two building multi-family complex in Urbana, IL one block west of Cunningham Avenue and just south of the Interstate 74 interchange. Property is situated on the northwest corner of Country Club Road and Willow Road in Urbana. The property boasts 51 apartments comprised of 22 one-bedroom units and 29 two-bedroom units Most of the units have been renovated and refreshed with 15 units undergoing renovations currently. Current ownership has invested over $1,200,000 in renovations/repairs since 2022. Each building has a shared laundry facilities on the second floor for one-bedroom units to utilize, while two-bedroom units have washer/dryer within the units. Apartments are very spacious, and upgrades include new flooring, painting, kitchen upgrades, new appliances. The entire exterior of this property has been improved including new roof, siding, windows, painting and much more. A large courtyard is situated between the two buildings providing an area for tenants to relax and creates a sense of community. The on-site parking lot accommodates 82 vehicles. The property is located near Crystal Lake Park, Busey Woods, Anita Pervis Nature Center and Urbana Country Club. These outdoor facilities are within walking distance and provides recreational opportunities for tenants.
  1. Listed by Jacob Patterson • GUTH & ASSOCIATES,LLC
  2. Listed by Jill Guth • GUTH & ASSOCIATES,LLC

Property Details for 1601 North Willow Road

Area
Urbana
Zoning
MULTI

Location

Listing Courtesy of GUTH & ASSOCIATES,LLC
Add your commute
LISTING UPDATED: 05/22/2024 03:00 AM

Property Details for 1601 North Willow Road

StatusActive
MLS #12056636
Days on Market39
Taxes$68,603 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Year Built1974
Lot Size2.00 AC / 87,120 SF
CountyChampaign County

Location

Listing Courtesy of GUTH & ASSOCIATES,LLC
Add your commute

Building Information for 1601 North Willow Road

Stories-Residences51Year Built1974Building Size-Lot Size2.00 AC / 87,120 SF

Payment Calculator

$26,592 per month

30 year fixed, 7.25% Interest

Principal and Interest

$20,875

Property Taxes

$5,717

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1601 North Willow Road

General Information
Addtl Parking Information
  • Outdoor Parking: 51-100 Spaces
  • Open Parking Spaces: 82.0
Location and General Information
  • Information: 24-Hr Notice Required,List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Forced Air
  • Num of Baths: 0.0
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Corridor-Interior Entrance
  • Lot Dimensions: 233.5 X 330.45
  • Lot Size Square Feet: 87120.0
  • Stories: 2
  • Exterior Building Type: Vinyl Siding
  • Roof Type: Composition
  • Roof Structure: Gable
  • Building Area Total: 51046
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 24
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 51
Income & Expenses
  • Electric Expense: $23,049.00
  • Fuel Expense: $.00
  • Gross Income: $306,296.00
  • Gross Scheduled Income: $492,660.00
  • Insurance Expense: $15,358.00
  • Maintenance Expense: $.00
  • Expense Year: 2023
  • Janitor Expense: 6000
  • Net Operating Income Year: 2023
  • Total Monthly Income: 41055
  • Net Operating Income: $67,359.00
  • Operating Expense: $238,936.00
  • Other Expense: $.00
  • Trash Expense: $14,856.00
  • Water Sewer Expense: $17,316.00
Unit 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 22
Unit 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 29
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 1601 North Willow Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1601 North Willow Road

Taxable ValueLand$95,130Additions$549,450Total$644,580
Tax Record2023$68,604 ($5,717 / month)
Home Facts
Lot Size87,120 SqFtStyleMulti-Family Dwelling (2-4)CountyCHAMPAIGNAPN912105477028

Schools near 1601 North Willow Road

This home is within Urbana School District 116.
Rating
School
Type
Grades
Distance
Public - K to 12
Public - 6 to 8
Public - 9 to 12
Private - 1 to 12
Rating
School
Distance
Urbana Gerber School
PublicK to 12

Urbana Middle School
Public6 to 8

Urbana High School
Public9 to 12

Circle Academy
Private1 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1601 North Willow Road is a multi-family home for sale in Urbana, IL 61801. This property was listed for sale on May 15, 2024 by GUTH & ASSOCIATES,LLC, it's currently listed at $3,825,000. It has been on the market for a total of 39 days and was last sold on April 11, 2016. This listing's school district is Urbana School District 116. Nearby schools include Urbana Gerber School, Urbana Middle School and Urbana High School. 1601 North Willow Road is a 80-bed, 0-bath, multi-family home built in 1974.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of GUTH & ASSOCIATES,LLC

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. Based on information submitted to the MLS GRID as of 05/22/2024 03:00 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.