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USAILChampaign112 W Hill St
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112 W Hill St, Champaign, IL

Real Estate

For Sale

Listed price in listed location currency (USD).
$2,400,000

000

MLS® 12264247

  • Key Facts
  • Description
  • Map

Key Facts

Type Mixed Use
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes $32,115
Days Active 407
Approx. Age 1897
MLS® Number 12264247

Property Address: 112 W Hill St, Champaign, IL, 61820-8643

Average square foot calculated using Size range provided by listing agent.

Description

Excellent investment opportunity in downtown Champaign, located across from the Hill Street Parking Deck and just steps away from downtown restaurants and night-life. This historic turn of the century, architecturally significant Richardsonian building features residential multi-family and commercial tenant spaces. The building, once owned by Senator McKinley, began life as "The Women's Town Club" hotel, and now is home to Buzard Pipe Organ Builders, LLC. There are currently 6 unique luxury 2-bedroom residential apartments ranging from 980 to 1400 sqft which are 100% leased. The commercial space is currently occupied by the owner/business. Updates include zoned HVAC, 800 Amp electrical service, all new plumbing, 2 elevators (1 recently added freight and 1 historic passenger), new roof, thermopane windows, brick tuck-pointing, restored vintage and reproduction light fixtures, doors and windows, preserved tile flooring and original woodworking throughout. The entire building is fire-protected by a sprinkler system, and the ceiling separating the commercial space from the residential apartments above has a 2-hour fire rating. The first and second floor commercial space could be leased as a whole or split into multiple spaces. The existing apartments on the 3rd and 4th floors have room for significant monthly rent increases, and additional residential units could be added. They have cherry cabinets and high-end finishes, with some including tin ceilings and 100+-year-old pine floors. New windows were recently installed, and each unit features a washer and dryer. Unit 302 is multi-story in design, with the second bedroom accessible via a spiral staircase. The commercial space features a three story tall back loft which was opened from the first floor to the top of the 3rd floor. This building has endless opportunities including a potential event center space with ample parking in the parking deck. Because this building has been labeled a Historic Landmark, both federal and state historical tax credits are available for future renovation and construction expenses. Contact the listing agent for additional details on the potential hundreds of thousands of dollars (up to 45% of your improvements costs) available depending upon the project scope.
MLS® Number12264247
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1897
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jan 29, 2025List Date
$2,400,000List Price
  • Commute

Commute

Starting Address
Destination Address
112 W Hill St, Champaign, IL

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