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320 W Main Street, 
Decatur, IL 62522

$540,000


Bed


Bath


-

Sq Ft


Multi-Family

Active

Listed by

Cole Babcock

Vieweg Re/Better Homes & Gardens Real Estate-Service First

217-450-8500

Last updated:

June 27, 2025, 03:49 PM

MLS#

6252608

Source:

IL CIBOR

About This Home

320 W Main Street

This turnkey 11-unit multifamily building has been fully renovated from top to bottom within the last 12 months, featuring new windows, updated bathrooms, modern flooring, and more. Located just steps from the heart of Downtown Decatur, this well-maintained property offers an attractive mix of one-bedroom, one-bathroom units, along with one two-bedroom, one-bath unit. Its central location provides residents with easy access to shopping, dining, entertainment, and public transit, making it a prime spot for tenants seeking urban convenience. Currently listed at an 8% cap rate with two vacancies, this property offers significant upside—pro forma projections bring it to a 12%+ cap rate once stabilized. Both vacant units are scheduled to be leased prior to closing. With strong rental demand, updated finishes, and consistent occupancy potential, this is an ideal investment for buyers seeking long-term value and reliable cash flow in one of Decatur’s most walkable, high-demand neighborhoods.

Home Facts

Multi-Family

Built in 1976

Price Summary

540,000

MLS #:

6252608

Last Updated:

June 27, 2025, 03:49 PM

Added:

13 day(s) ago


Structure

Structure

Year Built:

1976


Lot

Lot Size (Sq. Ft):

6,384


Finances & Disclosures

Finances

Price:

$540,000

Source:IL CIBOR
The information being provided by Central Illinois Board of Realtors MLS is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Central Illinois Board of Realtors MLS All rights reserved.

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