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705 E Colorado Avenue, Urbana, IL 61801
$2,500,000
705 E Colorado Avenue, Urbana, IL 61801View this property at 705 E Colorado Avenue, Urbana, IL 61801
705 E Colorado AvenueUrbanaIL61801
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Property Description
Don't miss your chance to own this well-situated apartment complex! It is perfectly placed in a quiet Urbana neighborhood, but still close to everything Champaign-Urbana has to offer! This building features 1, 2 and 3 bedroom apartments and townhouses. Secured entry and free off-street parking. It is a half block to the Red line and 2 blocks to the Green St, both take you to the central terminal downtown and to the University of Illinois campus. Grocery and convenience shopping nearby and there is fiberoptic internet access to every apartment. This is a great investment opportunity!
Full Property Details
Full Property Details for 705 E Colorado Ave
General
- Price: $2,500,000
- Taxes: $65,168 (2023)
- Status: Active
- Type: Commercial
- MLS ID: 12043161
- Updated: 5/22/2024
- Added to Site: 17 day(s) ago
Parking
- Parking Features: 19 to 30 Spaces
Location
- Area: Urbana
- County: Champaign
- Township: Cunningham
- Driving Directions: Florida, South on S Anderson, East on Colorado
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls, Forced Air
Structural Information
- Construction: Wood Frame
- Stories/Levels: 3
- Square Feet: 31,602
- Current Bldg. Use: Multi-Family
- Year Built: 1977
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 0.87
- Lot Dimensions: 145.5 x 260.15
- Potential Use: Multi-Family
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $134,000
- Assessment Year: 1977
- Tax Amount: $65,168
- Tax Year: 2023
- Tenant Pays: Varies by Tenant
Disclosures and Reports
- Property ID: 932121152042
Listed by Green Street Realty
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Schools
Schools serving 705 E Colorado Ave
School District:Urbana School District 116
Rating | Name | Grades | Distance |
---|---|---|---|
2102 S Anderson St, Urbana, IL 61801 | K-5 | 0.3 mi | |
1201 S Vine St, Urbana, IL 61801 | 6-8 | 0.8 mi | |
1002 S Race St, Urbana, IL 61801 | 9-12 | 0.9 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 705 E Colorado Ave
Date
Details
Price
Change
Source
5/06/2024
Listed
$2,500,000
38.89%
MLS
5/20/2022
Sold
$1,800,000
—
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 705 E Colorado Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$61,076
2%
$562,340
2%
2021
$59,708
-56%
$551,670
-57%
2020
$137,207
189%
$1,273,870
182%
2019
$47,520
20%
$452,250
18%
2018
$39,718
-3%
$382,690
—
2017
$41,082
1%
$382,690
—
2016
$40,870
-1%
$382,690
—
2015
$41,125
1%
$382,690
—
2014
$40,569
1%
$382,690
—
2013
$40,037
12%
$382,690
—
2012
$35,860
—
$382,690
—
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 705 E Colorado Ave
705 E Colorado Avenue, Urbana, IL 61801 (MLS# 12043161) is a Commercial property. 705 E Colorado Avenue is currently listed for $2,500,000 and was received on May 06, 2024. Want to learn more about 705 E Colorado Avenue? Do you have questions about finding other Commercial real estate for sale in Urbana? You can browse all Urbana real estate or contact a Coldwell Banker agent to request more information.