K
Seller's Agent in 2021
Kevin Block
KELLER WILLIAMS-TREC
401 E University Ave Champaign, IL 61820
Estimated Value: $6,941,000
64
Beds
64
Baths
--
Sq Ft
0.45
Acres
About This Home
As of March 2021401 E University Avenue is a 64 unit, 5 story building with all 1 bedroom apartments. Constructed in 2017, this property is in new condition. Each unit ranges in size from 648 SF to 745 SF, offering very spacious apartments for individuals or couples. Includes upgraded finishes with granite counter tops and stainless appliances. These units are partially furnished, and could easily be fully furnished for improved rental rates. This building is just 3 blocks from the University of Illinois' Department of Electrical and Computer Engineering. Grocery stores, restaurants, and entertainment are all in close proximity to this property. Current rental rates range from $855 to $1,000, not including the parking and furniture rental income. Property is 100% rented for 2020-21 school year, and the demand is strong for one-bedroom units in today's student housing market. The electric service is paid by the tenants, and the internet service is provided by the owner. Additionally, the water has been paid by the owner and could easily be sub-metered and billed to tenants for improved NOI. The parking garage is enclosed at ground level with 42 spaces that are rented to tenants at $55 each per month. One elevator and 2 stairwells provide access to the 5 levels, and each unit has a balcony or rooftop terrace. Schedule your tour of this prime investment property today!
Last Listed By
Kevin Block
KELLER WILLIAMS-TREC License #471009872 Listed on: 07/06/2020
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $191,848
Year Built
- 2017
Lot Details
- 0.45
Home Design
- Vinyl Siding
Utilities
- Window Unit Cooling System
Community Details
- Insurance Expense $12,700
- Manager Expense $35,000
Listing and Financial Details
- Tenant pays for electric
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 6, 2020
Closed on
Mar 5, 2021
Sold by
Hardwick Gene T and Hardwick T G
Bought by
Uggt Llc 401 E University
Seller's Agent
Kevin Block
KELLER WILLIAMS-TREC
Buyer's Agent
Non Member
NON MEMBER
List Price
$6,400,000
Sold Price
$5,500,000
Premium/Discount to List
-$900,000
-14.06%
Total Days on Market
198
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,441,000
Original Mortgage
$3,544,200
Interest Rate
2.34%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 17, 2003
Sold by
Ekstedt Donald A and Ekstedt Jeannine
Bought by
Ekstedt David O
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$230,000
Interest Rate
7%
Mortgage Type
Commercial
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Uggt Llc 401 E University | $5,750,000 | None Available | |
| Ekstedt David O | $236,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Uggt Llc-401 E University | $32,700,000 | |
| Closed | Uggt Llc 401 E University | $3,544,200 | |
| Closed | Uggt Llc 401 E University | $7,680,000 | |
| Closed | Uggt Llc | $3,544,200 | |
| Previous Owner | Hardwick Gene T | $4,000,000 | |
| Previous Owner | Ekstedt David O | $725,000 | |
| Previous Owner | Ekstedt David O | $230,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/05/2021 03/05/21 | Sold | $5,500,000 | -14.1% | -- |
| 01/20/2021 01/20/21 | Pending | -- | -- | -- |
| 07/06/2020 07/06/20 | For Sale | $6,400,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $191,848 | $2,335,890 | $284,600 | $2,051,290 |
| 2023 | $191,848 | $2,127,410 | $259,200 | $1,868,210 |
| 2022 | $180,472 | $1,962,550 | $239,110 | $1,723,440 |
| 2021 | $166,169 | $1,815,160 | $221,150 | $1,594,010 |
| 2020 | $158,498 | $1,728,720 | $210,620 | $1,518,100 |
| 2019 | $153,406 | $1,693,170 | $206,290 | $1,486,880 |
| 2018 | $149,960 | $1,666,500 | $203,040 | $1,463,460 |
| 2017 | $156,963 | $1,737,080 | $203,040 | $1,534,040 |
| 2016 | $41,710 | $504,260 | $198,860 | $305,400 |
| 2015 | $5,054 | $495,340 | $195,340 | $300,000 |
| 2014 | $8,359 | $99,360 | $59,560 | $39,800 |
| 2013 | $8,283 | $99,360 | $59,560 | $39,800 |
Source: Public Records
Agents Affiliated with this Home
-
-
D
Seller Co-Listing Agent in 2021
Darin Bowers
KELLER WILLIAMS-TREC
-
N
Buyer's Agent in 2021
Non Member
NON MEMBER
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: MRD10772534
APN: 46-21-07-376-001
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Based on information submitted to the MLS GRID. 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. Some IDX listings have been excluded from this website.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked.
Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Nearby Homes
- 503 E Park St
- 506 E Church St
- 507 E Washington St
- 1115 W Hill St
- 301 N Neil St Unit 613
- 301 N Neil St Unit 611
- 301 N Neil St Unit 808-809
- 1103 Fairview Ave
- 1309 Eureka St
- 901 W Main St
- 907 N Walnut St
- 902 N Lincoln Ave
- 503 N State St
- 212 W John St
- 408 N Prairie St Unit 9
- 1301 N Lincoln Ave
- 915 N Linview Ave
- 311 W Columbia Ave
- 312 W Columbia Ave
- 604 W Main St
- 401 E University Ave
- 405 E University Ave
- 106 S 4th St
- 404 E Clark St
- 407 E University Ave
- 406 E Clark St
- 315 E University Ave
- 108 S 4th St
- 408 E Clark St
- 105 S 4th St
- 413 E University Ave
- 314 E Clark St
- 104 N 4th St
- 312 E Clark St
- 504 E University Ave
- 310 E Clark St
- 405 E Park St
- 106 S 5th St
- 108 S 5th St
- 502 E University Ave