206 Grove Street, Urbana, IL 61802

(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.