Off market may 2021 for $875K

—

Est. refi paymentEst. refi $749/mo

•

—

sq ft

705 W Springfield Ave, Urbana, IL 61801

About this home

SOLD AT LIST! This listing comes with 4 properties all zoned B2. Endless possibilities!! Possible that the multiple adjoining parcels could qualify for Planned Urban Development (PUD) Price is based on the value of the land and development potential. Addresses included in this listing: 705 & 707 W Springfield, 101 N Coler Ave & 704 W Western Ave, Urbana. See attached Plat, B2 Zoning information in attachments.

Multi-familyProperty Type

0.62 acresLot Size

20 spacesParking

Listed by Brian Hannon • Taylor Realty Associates

Bought with Joe Zalabak • KELLER WILLIAMS-TREC

Redfin checked: 2 minutes ago

•Source:MRED as Distributed by MLS Grid #11017621

Redfin Estimate

Unfortunately, we don't have enough data to generate an accurate Estimate at this time.

Market trends in 61801, IL

Last updated September 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-list price

99.5%

0.3% MoM

Median sale price

$228K

$12K MoM

Avg. days on market

46d

2 days MoM

Recently sold homes

1 MoM

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Provided by Redfin

Sale history for 705 W Springfield Ave

Date

Event

Price

Public Records

May 21, 2021

Sold

$665,000

MRED as Distributed by MLS Grid #11017621

May 24, 2021

Sold (MLS) (Closed Sale)

$875,000

Mar 11, 2021

Listing Removed

—

Mar 11, 2021

Listed

$875,000

MRED as Distributed by MLS Grid #10252737

Dec 31, 2019

Listing Removed

—

MRED as Distributed by MLS Grid #10252752

Dec 31, 2019

Listing Removed

—

MRED as Distributed by MLS Grid #09454523

Mar 31, 1999

Sold (MLS)

$110,000

Mar 8, 1999

Listing Removed

—

Oct 22, 1998

Listed

$119,000

Tax history for 705 W Springfield Ave

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Zoning

Beds

—

Baths

—

Stories

—

Lot width

—

Lot depth

—

Lot size

6,726 Sq. Ft.

Year renovated

—

Sq. Ft.

—

Year built

—

Style

Other

County

Champaign County

APN

922117104005

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Mar 1, 2023.

Neighborhood Business-Arterial District

The B-2, Neighborhood Business-Arterial District is intended to provide areas of limited size along arterial streets in proximity to low density residential areas for a limited range of basic commercial trade and personal services. This district is also intended to provide areas for new high density residential uses. These business and residential uses may occur in the same structure. Due to the location of arterial streets in many residential neighborhoods where commercial and high density residential uses would not be appropriate, the B-2 District shall be limited to only those areas that have been so designated by the City’s adopted Comprehensive Plan and related amendments.

Permitted uses

Include but are not limited to:

Bank
Convenience store
Day care facility
General retail
Retail-Grocery
Restaurant
Housing-Group
Housing-Multiple units
Bed & breakfast
Office

Property details

Parking

Parking Information
# of Parking Spaces: 20
13-18 Outdoor Parking Spaces

Interior

Heating & Cooling
Central Building Heating
Central Air Conditioning

Exterior

Building Information
Age: 51+ Years

Lot Information
Sq. Ft.: 3608
Dimensions: 26942

Property Information
Potential Use: Commercial, Condominium, Office and Research, Planned Unit Development, Residential (Multi-Family), Residential (Single Family), Retail, Elderly Housing
Parcel Identification Number: 922117104005
Multiple PINs

Financial

Financial Information
Tax: $22,987
Tax Year: 2019
Total Monthly Income: $10,000
Total Annual Income: $35,580
Gross Rental Income: $124,260
Gross Rent Multiplier: 11.2
Net Operating Income: $73,393
Finance Code: Exchange

Location

Multi-Family Information
# of Units: 12
Tenant Pays Air Conditioning, Tenant Pays Electric, Tenant Pays Heat

Unit 1 Information
# of Units of Type: 1
# of Rooms: 13
# of Beds: 7
# of Baths: 3
Monthly Income: $3,035
Maximum Monthly Income: $3,035

Unit 2 Information
# of Units of Type: 1
# of Rooms: 14
# of Beds: 9
# of Baths: 2
Monthly Income: $3,680
Maximum Monthly Income: $3,680

Unit 3 Information
# of Units of Type: 1
# of Rooms: 6
# of Beds: 2
# of Baths: 1
Monthly Income: $1,250
Maximum Monthly Income: $1,250

Unit 4 Information
# of Units of Type: 2
# of Rooms: 6
# of Beds: 4
# of Baths: 2
Monthly Income: $895
Maximum Monthly Income: $1,050

Location Information
Township: Cunningham
Directions: I74 E, TO LINCOLN EXIT TURN R, L ON SPRINGFIELD

Public facts

Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: 6,726 square feet
Style: Other
Year Built: —
Year Renovated: —
County: Champaign County
APN: 922117104005

Home facts updated by county records on Mar 1, 2023

Other

Expense Information
Total Annual: $50,867

Listing Information
Possession: Closing
Seller Concessions: No

Around this home

Schools

Leal Elementary School

Public K-5 • Assigned • 0.4mi

5/10

Urbana Middle School

Public 6-8 • Assigned • 0.9mi

3/10

Urbana High School

Public 9-12 • Assigned • 0.7mi

2/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 104° expected this year, 19 days in 30 years

2/10 Wind Factor

1% chance of strong winds in next 30 years

2/10 Air Factor

1 unhealthy days expected this year, 2 days in 30 years

Provided by First Street

Historical weather

Urbana, IL • 61801

Average low and high temperatures (°F)

Jan

Feb

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Sun exposure

Try the sun simulator tool to see how light moves across the property at different times of day and year.

Provided by Shadowmap

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Home values near 705 W Springfield Ave

Data from public records.

Address	Redfin Estimate
708 Springfield Ave, Urbana, IL 2 Beds \| 1 Baths \| 720 Sq. Ft.	$142,151
704 Western Ave, Urbana, IL 4 Beds \| 2 Baths \| - Sq. Ft.	$185,822

Address	Redfin Estimate
101 North Coler Ave, Urbana, IL 2 Beds \| 1 Baths \| 920 Sq. Ft.	$188,438

Address	Redfin Estimate
103 North Coler Ave, Urbana, IL 4 Beds \| 4 Baths \| - Sq. Ft.	$325,024

Property information provided by MRED as Distributed by MLS Grid when last listed in 2021. This data may not match . Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Redfin Estimate

Market trends in 61801, IL

Sale history for 705 W Springfield Ave

Tax history for 705 W Springfield Ave

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Nearby similar homes

New listings for sale in 61801

Home values near 705 W Springfield Ave

More real estate resources