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$225,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 3 Total Beds
  • 1 Car Garage
  • Updated 3 days ago

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Located in an established Champaign neighborhood near downtown and the University of Illinois, 506 W William St. is a duplex investment opportunity offering strong rental potential and future upside. The property features a main-level two-bedroom, one-bath unit and an upper-level studio apartment with approximately 1,282 square feet of living space, a full basement, covered porches, central air conditioning, and a detached one-car garage with additional off-street parking. Current rents are below market, creating value-add potential for future ownership. This property would work well as an investment property or future owner-occupied opportunity in a strong rental location.

Full Property Details for 506 W William St

General

  • Price: $225,000
  • Taxes: $4,279 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12650535
  • Updated: 6/12/2026
  • Added to Site: 4 day(s) ago

Interior

  • Basement: Unfinished

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Upper - Full Baths: 2

Bedrooms

  • Total Bedrooms: 3

Parking

  • Garage: Yes
  • Garage Spaces: 1
  • Total Spaces: 3
  • Parking Features: Yes, Garage Owned, Detached, Off-Street, Driveway, Owned, Garage

Location

  • Area: Champaign, Savoy
  • County: Champaign
  • Township: Champaign
  • Driving Directions: On W William, West of Elm Blvd. and East of Foley Ave.

School Information

  • School District: 4
  • Elem School District: 4
  • Midd School District: 4
  • High School District: 4
  • Elementary School: Champaign Elementary School
  • Middle School: Champaign Junior High School
  • High School: Champaign High School
  • Private School: Champaign High School

Heating & Cooling

  • Heating Type: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Architectural Info: Traditional
  • Architectural Style: Traditional
  • Construction: Vinyl Siding
  • Exterior Const.: Vinyl Siding
  • Basement: Yes
  • Basement Desc.: Unfinished, Full
  • Year Built: 1923
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 2

Lot Features

  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 68 x 56

Financial Considerations

  • Parking Included: Yes
  • Assessment Year: 1923
  • Tax Amount: $4,279
  • Tax Year: 2025
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 432013177026

Listed by Trautman Real Estate Agency & Appraisal LLC

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Listing agent

— 506 W William St —

  • Trautman Real Estate Agency & Appraisal LLC

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 506 W William St

School District:Champaign Community Unit School District 4
NameGradesDistance
South Side Elementary School
715 South New Street, Champaign, IL 61820
K-50.2 mi
Westview Elementary School, Champaign, IL
703 South Russell Street, Champaign, IL 61821
K-50.9 mi
Bottenfield Elementary School
1801 South Prospect Avenue, Champaign, IL 61820
K-51 mi
Edison Middle School, Champaign, IL
306 West Green Street, Champaign, IL 61820
6-80.3 mi
Franklin Middle School, Champaign, IL
817 North Harris Avenue, Champaign, IL 61820
6-81.2 mi
Jefferson Middle School, Champaign, IL
1115 Crescent Drive, Champaign, IL 61821
6-81.7 mi
Central High School, Champaign, IL
610 West University Avenue, Champaign, IL 61820
9-120.7 mi
Dr Howard Elementary School
110 North James Street, Champaign, IL 61821
K-51 mi
Stratton Elementary School
902 North Randolph Street, Champaign, IL 61820
K-51.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 506 W William St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/12/2026
Listed
$225,000
958.82%
MLS
11/17/1999
Sold
$21,250
—
Public Record
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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 for 506 W William St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,958
—
$50,920
12%
2024
$3,958
6%
$45,390
10%
2023
$3,727
9%
$41,330
11%
2021
$3,422
-2%
$37,380
-2%
2022
$3,506
6%
$38,130
6%
2020
$3,295
3%
$35,940
2%
2019
$3,189
2%
$35,200
2%
2018
$3,118
4%
$34,650
4%
2017
$3,011
12%
$33,320
2%
2016
$2,699
-1%
$32,630
2%
2015
$2,719
1%
$32,050
—
2014
$2,696
1%
$32,050
—
2013
$2,672
2%
$32,050
-2%
2012
$2,622
—
$32,710
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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Listed by Trautman Real Estate Agency & Appraisal LLC

506 W William Street, Champaign, IL 61820 (MLS# 12650535) is a Multi-Family property with 2 units containing 3 bedrooms and 0 full bathrooms. 506 W William Street is currently listed for $225,000 and was received on June 12, 2026. Want to learn more about 506 W William Street? Do you have questions about finding other Multi-Family real estate for sale in Champaign? You can browse all Champaign real estate or contact a Coldwell Banker agent to request more information.

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