Log In/Sign Up
Your email has been sent.
The Organ Loft Apartments 112 W Hill St 7 Unit Apartment Building $2,732,571 CAD ($390,367 CAD/Unit) 10.52% Cap Rate Champaign, IL 61820
Investment Highlights
- Excellent investment opportunity in downtown Champaign, located across from the Hill Street Parking Deck
- The first 2 floors are currently owner/occupied. This building has endless opportunities including a potential event center space with ample parking.
- There are currently 6 unique luxury 2-bedroom residential apartments ranging from 980 to 1400 sqft which are 100% leased.
Executive Summary
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.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$379,569
|
$57.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$379,569
|
$57.90
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$93,962
|
$14.33
|
| Net Operating Income |
$285,606
|
$43.56
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $379,569 |
| Annual Per SF | $57.90 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $379,569 |
| Annual Per SF | $57.90 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $93,962 |
| Annual Per SF | $14.33 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $285,606 |
| Annual Per SF | $43.56 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Vintage Building
- Storage Space
- Elevator
- Multi Use Room
- Online Services
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 980 - 10,248 |
1 1
Exceptionally walkable
90/100
Exceptionally drivable
100/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 42-20-12-407-011 | Improvements Assessment | $460,127 CAD (2024) |
| Land Assessment | $75,471 CAD (2024) | Total Assessment | $535,598 CAD (2024) |
Property Taxes
Parcel Number
42-20-12-407-011
Land Assessment
$75,471 CAD (2024)
Improvements Assessment
$460,127 CAD (2024)
Total Assessment
$535,598 CAD (2024)
Contact
-
Jeremy Brandow -
Coldwell Banker Real Estate Group
1 of 57
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
The Organ Loft Apartments | 112 W Hill St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.