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1001 Francis Drive, Champaign, IL 61821
$6,500,000
1001 Francis Drive, Champaign, IL 61821View this property at 1001 Francis Drive, Champaign, IL 61821
1001 Francis DriveChampaignIL61821
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Property Description
Presenting Garden Court, an exceptional 102-unit multi-family property strategically located just 4 miles from the University of Illinois in Champaign-Urbana. The property, nestled with trees and foliage, offers a mix of 66 spacious two-bedroom, 1.1 bath units and 36 one-bedroom, one bath units. Approximately 50% of the residents are graduate students from the nearby university, giving the property a stable and robust tenant base, indicative of a reliable and consistent rental market. This well-maintained property guarantees easy commuting with swift access to Interstates 74 and 57. It further enhances resident convenience with 145 dedicated parking spaces. Proximity to a variety of shopping outlets and restaurants creates an ideal balance of urban convenience and suburban tranquility, adding significantly to Garden Court's appeal. In summary, Garden Court presents a unique blend of strategic location, diverse accommodations, and a stable tenant base, making it a rare and lucrative investment opportunity. Its closeness to the University of Illinois, ease of transportation, abundant parking, and the array of nearby amenities all contribute to its charm, creating an inviting and sustainable living environment that ensures a solid ROI for potential buyers.
Full Property Details
Full Property Details for 1001 Francis Dr
General
- Price: $6,500,000
- Taxes: $115,345 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 11834165
- Updated: 3/29/2024
- Added to Site: 288 day(s) ago
Parking
- Parking Features: Over 100 Spaces
Location
- Area: Champaign, Savoy
- County: Champaign
- Driving Directions: HWY 74 exit Prospect Ave and turn right onto Francis Dr.
Heating & Cooling
- Cooling Type: Central Individual
- Heating Type: Central Heat/Individual Controls, Forced Air
Utilities
- Trash: 11455
Structural Information
- Stories/Levels: 3
- Square Feet: 60,330
- Year Built: 1970
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 3
- Lot Dimensions: 3
- Zoning: MULTI
Financial Considerations
- Insurance Fee: $30,000
- Operating Expenses: $419,120
- Assessment Year: 1970
- Tax Amount: $115,345
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 13871
- Pays Trash: 11455
Disclosures and Reports
- Property ID: 412002476001
Listed by Berkshire Hathaway HomeServices Chicago
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Schools
Schools serving 1001 Francis Dr
School District:Champaign Community Unit School District 4
Rating | Name | Grades | Distance |
---|---|---|---|
610 W University Ave, Champaign, IL 61820 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1001 Francis Dr
Date
Details
Price
Change
Source
7/17/2023
Listed
$6,500,000
37.42%
MLS
7/23/2019
Sold
$4,730,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1001 Francis Dr
Year
Property Taxes
Change
Tax Assessment
Change
2022
$111,429
9%
$1,211,740
8%
2021
$102,597
—
$1,120,730
—
2020
$102,754
3%
$1,120,730
2%
2019
$99,453
2%
$1,097,680
2%
2018
$97,220
—
$1,080,400
—
2017
$97,625
12%
$1,080,400
2%
2016
$87,528
-1%
$1,058,170
2%
2015
$88,197
1%
$1,039,460
—
2014
$87,445
1%
$1,039,460
—
2013
$86,658
2%
$1,039,460
-2%
2012
$85,031
—
$1,060,670
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1001 Francis Dr
1001 Francis Drive, Champaign, IL 61821 (MLS# 11834165) is a Commercial property. 1001 Francis Drive is currently listed for $6,500,000 and was received on July 17, 2023. Want to learn more about 1001 Francis Drive? Do you have questions about finding other Commercial real estate for sale in Champaign? You can browse all Champaign real estate or contact a Coldwell Banker agent to request more information.