206 Grove ST, Urbana, IL 61802
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206 Grove ST, Urbana, IL 61802
206 Grove ST, Urbana, IL 61802
206 Grove ST, Urbana, IL 61802
206 Grove ST, Urbana, IL 61802
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Jennifer Justus

Jennifer Justus

+1(847) 970-0778
$ 899,000
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206 Grove ST Urbana, IL 61802

7,200 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 7,200 sqft

Price per Sqft $124

MLS Listing ID 12673682

Year Built 1976

Annual Tax Amount $13,703

Tax Year 2025

Lot Size 8,276 Sqft

Lot Dimensions 66 x 132

Property Sub-Type Multi Family 5+

Property Description

(Update 10-19-2026). Seller will offer 1/3 seller financing at 5.5% interest to help buyer obtain financing. Buyer must sign a personal guarantee. Five year balloon max. 206 S. Grove Street offers the opportunity to acquire a well-maintained 8-unit multifamily property in a highly desirable Urbana location just over one mile from the University of Illinois. Conveniently situated near downtown Urbana, Lincoln Square Mall, the Urbana Farmers Market, Carle Foundation Hospital, and major employment centers, the property appeals to a broad tenant base including students, healthcare professionals, university employees, and workforce renters. The property consists of eight spacious two-bedroom, one-bathroom apartments, each featuring a full kitchen, dining area, in-unit stackable laundry, and private patio or balcony access. Current ownership has completed numerous interior and exterior improvements, including updated flooring, bathroom renovations, cosmetic updates, exterior repairs, and a complete exterior repainting. Additional amenities include ample surface parking, mature landscaping, and a quiet residential setting. With recent capital improvements already completed and the potential for continued rental growth, 206 S. Grove Street represents an attractive investment opportunity in one of Central Illinois' strongest rental markets.

Location

State IL

County Champaign

Area Urbana

Zoning MULTI

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Jon Fisher of  MR. LANDMAN 

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Jennifer Justus

Jennifer Justus

Agent

+1(847) 970-0778

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206 Grove ST

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