105,111,117 & 133 Elder LanePrice Reduced

Decatur, IL 62522 · West View Add 04 · MLS #6257557

$2,130,000
Listed 181 days ago
Save
Acres
0.5
Type
ResidentialIncome
Status
Active

Introducing a prime multifamily investment opportunity in Decatur, Illinois. The property consists of 35 units across four parcels, featuring four freestanding buildings, including a duplex that contains the superintendent unit. Constructed between 1964 and 1967, the buildings are a combination of brick, mortar, and frame construction and are zoned B-2 with multifamily permitted use. The property is located on the far west side of Decatur, near lifestyle amenities including the 180+ acre Fairview Park, nearby bicycle and walking trails, and the campus-town shops and restaurants surrounding Millikin University. Current ownership has completed select capital improvements, with approximately 25 of the 35 units cosmetically updated, demonstrating measurable rental increases and improved operating performance. Majority of units are two bedrooms. With additional units remaining to be renovated, the property offers continued value-add potential for investors seeking stable income.

Features

Water HeaterCentral AirWindow Units

Property Details

Price
$2,130,000
MLS #
6257557
Status
Active
Type
ResidentialIncome
Subtype
Multi Family
Subdivision
West View Add 04
Listed Date
Mar 17, 2026
Lot Size
21,780 sqft / 0.50 acres
Year Built
1964
County
Macon
Zoning
B-2
Parcel Number
04-12-17-254-010

Interior

Above Grade Finished Area
0
Appliances
Water Heater
Cooling
Central Air, Window Units
Levels
Three Or More

Exterior

Garage
No
Roof
Other
Stories
3
Sewer
Public Sewer
Water Source
Public

Payment estimate

Estimated monthly
$12,636/mo
$11,337 principal & interest$1,299 taxes

Estimate for planning only — actual payment depends on your loan. Talk to your lender.

Financial

Tax Year
2024
Taxes
$15,590

Schools

School District
Decatur Dist 61

Market Summary

Current real estate data for ResidentialIncome in Decatur as of Sep 14, 2026, from all participating CIBR offices.

ResidentialIncome Listed
6
Avg Days on Market
142
Avg List Price
$1,048,133

Location

See this listing

Ask a question or request a tour of 105,111,117 & 133 Elder Lane. We'll get right back to you.

Listed by Main Place Real Estate · 217-422-3335. Want to see this property? Call Grissom Schmitz Realty at 217-562-7078.

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Disclaimer: All data relating to real estate for sale on this site comes from the Broker Reciprocity (BR) of the Central Illinois Board of Realtors. Detailed information about real estate listings held by brokerage firms other than Grissom Schmitz Realty include the name of the listing broker. Neither the listing company nor Grissom Schmitz Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. All properties are subject to prior sale, changes, or withdrawal.

Copyright 2026 Central Illinois Board of Realtors. All rights reserved. This site was last updated 9/14/2026, 3:23:03 PM (Central Time).