PJ Trautman
Trautman Real Estate Agency & Appraisal LLC
(217) 858-4950
167 Total Sales
3 in Downtown Champaign
$133K - $900K Price Range
503 N State St Champaign, IL 61820
Downtown Champaign NeighborhoodEstimated Value: $325,627
Studio
2
Baths
4,142
Sq Ft
$79/Sq Ft
Est. Value
About This Home
As of August 2025Welcome to 503 N State in downtown Champaign - a fully remodeled, all-brick 5-unit investment property offering an outstanding opportunity for strong, reliable rental income. This fully leased building features three spacious one-bedroom, one-bath units and two two-bedroom, one-bath units, all recently updated with significant improvements. Major upgrades include brand-new vinyl windows throughout and stainless steel appliances in every kitchen, enhancing both energy efficiency and tenant appeal. Each unit is separately metered for electricity, and tenants pay an additional $110 per-unit monthly utility fee on top of their base rent to cover water, sewer, gas, and trash services. With its classic brick exterior, modern updates, and unbeatable downtown location close to shops, dining, and entertainment, 503 N State is a turnkey addition to any rental portfolio.
Last Agent to Sell the Property
KELLER WILLIAMS-TREC License #475151471 Listed on: 04/29/2025
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,169
Year Built
- Built in 1922
Lot Details
- 4,356 Sq Ft Lot
- Lot Dimensions are 66 x 66
Parking
- On-Street Parking
Home Design
- Brick Exterior Construction
- Composition Roof
- Concrete Perimeter Foundation
- Cedar
Interior Spaces
- 4,142 Sq Ft Home
- 3-Story Property
- Finished Basement
Utilities
- Window Unit Cooling System
- Heating Available
- Separate Meters
Listing and Financial Details
- Tenant pays for electricity, scavenger, sewer
Community Details
Overview
- 5 Units
Building Details
- Electric Expense $1,167
- Fuel Expense $1,312
- Insurance Expense $3,242
- Trash Expense $2,091
- Water Sewer Expense $1,298
- Operating Expense $12,700
- Gross Income $3,815
- Net Operating Income $41,503
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 29, 2025
Closed on
Aug 5, 2025
Sold by
Bought by
Seller's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
Buyer's Agent
Jordan Dunahee
Ramshaw Real Estate
List Price
$389,000
Sold Price
$336,250
Premium/Discount to List
-$52,750
-13.56%
Views
61
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
-$10,623
Avg. Annual Appreciation
-3.01%
Purchase Details
Listed on
May 22, 2022
Closed on
Aug 30, 2022
Sold by
Bought by
Seller's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
Buyer's Agent
Joe Zalabak
KELLER WILLIAMS-TREC
List Price
$325,000
Sold Price
$157,110
Premium/Discount to List
-$167,890
-51.66%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
29.43%
Purchase Details
Listed on
Apr 24, 2013
Closed on
Oct 24, 2013
Sold by
Bought by
Seller's Agent
Alex Ruggieri
SVN | North Star
Buyer's Agent
Jonah Weisskopf
Weiner Co., Ltd.
List Price
$246,100
Sold Price
$250,000
Premium/Discount to List
$3,900
1.58%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-5.13%
Purchase Details
Closed on
Nov 8, 2007
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$593,200
Interest Rate
6.31%
Mortgage Type
Purchase Money Mortgage
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Downtown Champaign, IL
-
PJ Trautman
-
Brock Collins
Brock Collins
Responds QuicklyeXp Realty - Mahomet Branch
(217) 688-9482
62 Total Sales
2 in Downtown Champaign
$145K - $178K Price Range
-
Jake Patterson
Jake Patterson
Realty Select One
(217) 858-3002
137 Total Sales
4 in Downtown Champaign
$125K - $500K Price Range
-
Carol Meinhart
Carol Meinhart
Responds QuicklyThe Real Estate Group LLC
(217) 858-4967
768 Total Sales
15 in Downtown Champaign
$130K - $430K Price Range
-
Barb Schwartz
Barb Schwartz
Keller Williams Realty Atl. Partners
(217) 794-6090
89 Total Sales
3 in Downtown Champaign
$154K - $680K Price Range
-
Tracy Haas Riley
Tracy Haas Riley
Responds QuicklyBHHS Central Illinois, REALTORS
(309) 503-1074
281 Total Sales
1 in Downtown Champaign
$245,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $336,500 | Guaranteed Title Group | ||
| -- | -- | ||
| $250,000 | None Available | ||
| $170,000 | None Available |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $593,200 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/05/2025 08/05/25 | Sold | $336,250 | -3.7% | $81 / Sq Ft | |
| 06/28/2025 06/28/25 | Pending | -- | -- | -- | |
| 06/19/2025 06/19/25 | Price Changed | $349,000 | -10.3% | $84 / Sq Ft | |
| 04/29/2025 04/29/25 | For Sale | $389,000 | +147.6% | $94 / Sq Ft | |
| 08/25/2022 08/25/22 | Sold | $157,110 | -37.2% | $141 / Sq Ft | View Prior Sale |
| 07/21/2022 07/21/22 | Pending | -- | -- | -- | |
| 07/06/2022 07/06/22 | Price Changed | $250,000 | -9.1% | $225 / Sq Ft | |
| 06/21/2022 06/21/22 | Price Changed | $275,000 | -8.3% | $248 / Sq Ft | |
| 06/08/2022 06/08/22 | Price Changed | $300,000 | -7.7% | $270 / Sq Ft | |
| 05/23/2022 05/23/22 | For Sale | $325,000 | +30.0% | $293 / Sq Ft | |
| 10/30/2013 10/30/13 | Sold | $250,000 | +1.6% | $225 / Sq Ft | View Prior Sale |
| 09/30/2013 09/30/13 | Pending | -- | -- | -- | |
| 04/24/2013 04/24/13 | For Sale | $246,100 | -- | $222 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2025 | $3,169 | $40,770 | $5,440 | $35,330 |
| 2024 | $2,985 | $36,340 | $4,850 | $31,490 |
| 2023 | $2,985 | $33,100 | $4,420 | $28,680 |
| 2022 | $2,808 | $30,540 | $4,080 | $26,460 |
| 2021 | $2,741 | $29,940 | $4,000 | $25,940 |
| 2020 | $2,815 | $30,700 | $4,100 | $26,600 |
| 2019 | $2,724 | $30,070 | $4,020 | $26,050 |
| 2018 | $2,664 | $29,600 | $3,960 | $25,640 |
| 2017 | $2,675 | $29,600 | $3,960 | $25,640 |
| 2016 | $2,398 | $28,990 | $3,880 | $25,110 |
| 2015 | $2,417 | $28,480 | $3,810 | $24,670 |
| 2014 | $2,396 | $28,480 | $3,810 | $24,670 |
| 2013 | $2,374 | $28,480 | $3,810 | $24,670 |
Source: Public Records
Agents Affiliated with this Home
-
Joe Zalabak
Seller's Agent in 2025
Joe Zalabak
KELLER WILLIAMS-TREC
(217) 721-5855
10 in this area
338 Total Sales
-
Jordan Dunahee
Buyer's Agent in 2025
Jordan Dunahee
Ramshaw Real Estate
(309) 846-8941
7 in this area
47 Total Sales
-
Alex Ruggieri
Seller's Agent in 2013
Alex Ruggieri
SVN | North Star
(217) 366-3414
11 Total Sales
-
Jonah Weisskopf
J
Buyer's Agent in 2013
Jonah Weisskopf
Weiner Co., Ltd.
(217) 621-3196
1 in this area
34 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12343981
APN: 42-20-12-254-013
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.
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.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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