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About the Listing 95234 - 950182,952701
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.
Listing Highlights for 1007 S Locust St
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
12463735
Year Built
1997
Total Square Footage
28,960
Lot/Acreage
0.53
County
Champaign
Area
Champaign, Savoy
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central Air
- Heating: Electric,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Community Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 58.5x58.5x58.5x132
- Zoning: MULTI
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $138,900
- Taxes w/Assessments: N/A
- Tax/Property ID: 432013284015
- Tax Year: 2024
Payment Calculator
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Listing Location
Questions About..
1007 S Locust St Champaign, IL 61820
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