218 W Main St , Urbana
FULLY RENOVATED AND FULLY LEASED! This historic downtown Urbana, Illinois "Stephen's Building" has been fully modernized and redesigned to today's living standards! The first floor offers 2separate commercial spaces. The larger Westside suite is 2375 Sq. Ft. with an unfinished basement for additional storage space. This suite is currently rented for $2400/mo. The East commercialspace is 1500 Sq. Ft. and rented for $1326/mo (discounted has been $2100/mo. Upstairs you will find 4 fully renovated 2 bed/2bath apartments. Each apartment features stainless appliances,hardwood and tile flooring, stacked laundry in each unit. The remodel was able to leave beautiful historic brick walls exposed and other original features. The building features industrial-style exposedHVAC. The residential access to the building is secure. The 4 apartments currently generate over $5869/mo of rental income. The building does not come with parking, however there is a City permitlot directly adjacent.
$1,150,000
| Bus / Bus w/Real Est | |||
| MLS #: | 12491021 | Orig. List Price: | $1,150,000 |
| Township: | List Date: | 10/08/2025 | |
| Ownership: | General Partnership, Limited Liability Corp. | Listing Market Time: | 6 |
| Business Type: | Beauty Salon/Barber | Total Market Time: | 6 |
| Business Age: | Unknown | Lease SqFt Yearly: | |
| # Spaces: | 0 | List Price Per SF: | $148.39 |
| Lease Expires: | Sold Price Per SF: | $0 | |
| Real Estate Included: | Yes | Monthly Rent Price: | |
| Unit SqFt: | 7750 | Total Taxes: | $15,604 - 2024 |
General
| Area: | 6008 | Estimated Cam/SF: | |
| County: | Champaign | Estimated Tax/SF: | |
| Corporate Limits: | Urbana | Ownership Type: | General Partnership, Limited Liability Corp. |
| Unincorporated (Y/N): | Frontage/Access: | City Street | |
| Zoning Type: | Current Use: | Commercial, Residential | |
| Actual Zoning: | B4 | Potential Use: | Apartments, Commercial |
| Real Estate Included? (Y/N): | Yes | Client Needs: | |
| Waterfront (Y/N): | Client Will: | ||
| Lease Type: | Gross | Land Amenities: | |
| Lease Expiration Date: | Known Encumbrances: | First Mortgage | |
| Directions: | Premium Location On Main St. in downtown Urbana directly north of Busey Bank, 2–3 blocks to Courthouse | ||
| Relist (Y/N): | Location: | ||
| Mobility Score: | - | PIN: | 922117201001 |
| Multiple Pin Numbers: | No | ||
Exterior Features
| Lot Dimensions: | 48x110X44x116 | Roof Coverings: | Membrane |
| Lot Sq Ft: | 5061 | Misc Outside: | |
| Approx Total Bldg Sq Ft: | 7750 | Misc Inside: | Inside Corridor/s, Multi-Tenant, Skylight/s |
| Approx Land Sq Footage: | 3875 | Indoor Parking: | |
| Lot Size: | Less Than .25 Acre | Outdoor Parking: | |
| Lot Size Source: | County Records | Parking Ratio: | |
| Construction: | Brick |
Business Info
| Business Name: | Type Ownership (Business): | ||
| # Of Emp Full Time: | Current Owner: | ||
| # Of Emp Part Time: | Living Quarters: | ||
| Business Age: | Unknown | Seating Capacity: | |
| Food/Beverage Type: | Sale Price Includes: | Land, Building |
Utilities/Green
| Air Conditioning: | Central Air | Green Supporting Documents: | |
| Electrical Service: | Separate Meters | Energy/Green Building Rating Source: | |
| Heat/Ventilation: | Forced Air, Gas | Green Features: | |
| Utilities To Site: | |||
| Business Pays: | Air Conditioning, Electric, Heat, Water/Sewer | HERS Index Score: |
Financial
| Gross Sales: | $0 - 2025 - Actual | Annual Rent For Real Estate: | $115,140 - 2025 - Actual |
| Cost Of Goods Sold: | $0 - 2025 - Actual | Inventory: | $0 - 2025 - Actual |
| Gross Profit: | $0 - 2025 - Actual | Taxes: | $15,604 - 2024 - Actual |
| Total Operating Expenses: | $0 - 2025 - Actual | Gross Payroll: | $0 - 2025 - Actual |
| Net Profit: | $0 - 2025 - AC | Sales Taxes: | $0 - 2025 - Actual |
| Adjusted Net Income: | Operating Expense Includes: |
Listing Info
| Property Offered: | For Sale Only | Off Market Date: |
| Original List Price: | $1,150,000 | Contingency: | |
| Original Rent Price: | Financing: | ||
| List Price: | $1,150,000 | Concessions: | |
| Rental Price ($ per SF/Year): | Sales Terms: | ||
| List Date: | 10/08/2025 | Possession: | Closing, Immediate, Negotiable |
| List Date Rcvd: | 10/09/2025 | Broker Owned/Interested: | No |
| List Mkt Time: | 6 | ||
| Closed Date: | Rented Date: | ||
| Contract Date: |
Office/Sales
| Broker Private Remarks: | Amazing Quality Building 4 Security Apartments Total Rehab 2013 | ||
| Broker: | Phillip Trautman, GREEN, GRI (508816) / (217) 352-1234 / philtccr@aol.com | Information: | None |
| CoList Broker: | Cont. to Show?: | ||
| More Agent Contact Info: | Must Call Listing Broker (217) 202-1234 | Expiration Date: | 12/31/2026 |
| Add. Sales Info.: | Address on Internet: | Yes | |
| Lock Box: | None | Call for Rent Roll Info: | |
| Lock Box Location: | Other | Internet Listing: | Yes |
| Showing Instructions: | 2 Commercial leases by appointment • 4 Apartments must have 24 hour notice | Remarks on Internet?: | Yes |
| Display of Price History on Internet: | Listing Type: | Exclusive Right to Sell | |
| Display of Market Time on Internet: | Holds Earnest Money: | ||
| Display of 3rd Party Advert. on Listing Detail Page: | Auct. Avail. Show: | ||
| VOW AVM?: | Yes | Display AVM on IDX: | Yes |
| VOW Comments: | Yes | ||