NOT LISTED FOR SALE

511 W University Ave Champaign, IL 61820

Estimated Value: $620,000

-- Bed
-- Bath
-- Sq Ft
8,625 Sq Ft Lot

Last Sold November 10, 2022

Last sale price $600,000

Est. 3% increase in value since last sale

Current estimated payment $4,300/month

130 Days on Market

About This Home

As of November 2022

Available August 2024!

Located in a prime location just west of Downtown Champaign You'll enjoy being conveniently located near bus routes not far from UIUC campus and the lively nightlife of Downtown!

JSJ Property Management
302 W Springfield Ave.
Champaign, IL 61802

Last Agent to Sell the Property

Mark Panno

KELLER WILLIAMS-TREC License #475164947 Listed on: 06/17/2022

KELLER WILLIAMS-TREC

Last Buyer's Agent

J Leman

eXp Realty-Champaign License #475184798

eXp Realty-Champaign

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,794

Year Built

  • Built in 1950

Lot Details

  • Lot Dimensions are 66x132
  • Additional Parcels

Parking

  • 6 Parking Spaces

Home Design

  • Block Foundation

Additional Features

  • 3-Story Property
  • Heating System Mounted To A Wall or Window

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 11 Units

Building Details

  • Insurance Expense $2,421
  • Operating Expense $31,681
  • Gross Income $77,447
  • Net Operating Income $31,357

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,794

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Condo/Townhouse
  • Stories: 3
  • Year Built: 1950
  • Built Before 1978 (Y/N): Yes
  • Legal Description: LOT 6 BLOCK 12 WHITE'S, JOHN P. ADD
  • Information: 24-Hr Notice Required
  • Estimated Age: 16-25 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Dishwashers: 0
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Foundation Details: Block
  • List Price: 662500

Garage/Parking

  • ParkingTotal: 6

Utilities

  • Heat/Ventilation: Wall Unit

Fee Information

  • Janitor Expense: 0

Lot Info

  • Additional Parcels: Yes
  • Lot Dimensions: 66X132

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 22

Multi Family

  • Net Operating Income: 31357
  • Insurance Expense: 2421
  • GrossIncome: 77447
  • NumberOfUnitsTotal: 11
  • OperatingExpense: 31681
  • Expense Year: 2021
  • Type Multi-Family: Condo/Townhouse

Tax Info

  • Tax Annual Amount: 8793.82
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 17, 2022
Closed on
Oct 31, 2022
Sold by
Domus Properties Llc
Bought by
633 Properties Llc
Seller's Agent
Mark Panno
KELLER WILLIAMS-TREC
Buyer's Agent
J Leman
eXp Realty-Champaign
List Price
$662,500
Sold Price
$600,000
Premium/Discount to List
-$62,500
-9.43%
Views
13
Current Estimated Value
$620,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$20,000
Avg. Annual Appreciation
1.26%
Original Mortgage
$960,000
Outstanding Balance
$934,845
Interest Rate
6.92%
Mortgage Type
New Conventional
Estimated Equity
-$314,845

Purchase Details

Closed on
Jan 11, 2019
Sold by
Faron Properties Llc
Bought by
Domus Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$680,000
Interest Rate
4.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 31, 2005
Sold by
Worner Eric S
Bought by
Faron Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
3.39%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
633 Properties Llc $6,000 --
Domus Properties Llc $850,000 Attorney
Faron Properties Llc $225,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 633 Properties Llc $960,000
Previous Owner Domus Properties Llc $680,000
Previous Owner Faron Properties Llc $260,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/31/2024 01/31/24 For Rent $640 0.0% --
11/10/2022 11/10/22 Sold $600,000 -9.4% --
10/26/2022 10/26/22 Pending -- -- --
10/24/2022 10/24/22 For Sale $662,500 0.0% --
09/26/2022 09/26/22 Pending -- -- --
08/23/2022 08/23/22 Price Changed $662,500 -5.4% --
06/17/2022 06/17/22 For Sale $700,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

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 $10,151 $123,600 $20,180 $103,420
2023 $10,151 $112,570 $18,380 $94,190
2022 $9,550 $103,850 $16,960 $86,890
2021 $8,794 $96,060 $15,690 $80,370
2020 $8,807 $96,060 $15,690 $80,370
2019 $8,525 $94,090 $15,370 $78,720
2018 $8,334 $92,610 $15,130 $77,480
2017 $8,368 $92,610 $15,130 $77,480
2016 $7,503 $90,710 $14,820 $75,890
2015 $7,561 $89,110 $14,560 $74,550
2014 $7,496 $89,110 $14,560 $74,550
2013 $7,429 $89,110 $14,560 $74,550
Source: Public Records

Agents Affiliated with this Home

  • Mark Panno

    Seller's Agent in 2022

    Mark Panno

    KELLER WILLIAMS-TREC

    (815) 674-5598

    275 Total Sales

    Mark Panno
    Section Image
  • J Leman

    Buyer's Agent in 2022

    J Leman

    eXp Realty-Champaign

    (217) 778-5320

    206 Total Sales

    J Leman
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11438647

Midwest Real Estate Data (MRED)

APN: 42-20-12-376-001

Illinois Champaign County Champaign 61820

511 W University Ave, Champaign, IL

This home is located at 511 W University Ave, Champaign, IL 61820 since 17 June 2022 and is currently estimated at $620,000. This property was built in 1950. 511 W University Ave is a home located in Champaign County with nearby schools including Central High School, Holy Cross Elementary School, and Franklin STEAM Academy.

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