320 W Main Street, Decatur, IL 62522

Local realty services provided by:Better Homes and Gardens Real Estate Service First
320 W Main Street,Decatur, IL 62522
$540,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by:
  • Listing agent0
    Cole Babcock(217) 433 - 0839
    Better Homes and Gardens Real Estate Service First
MLS#:6252608
Source:IL_CIBOR

Price summary

  • Price:$540,000

About this home

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.

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Home facts

  • Year built:1976
  • Listing ID #:6252608
  • Added:183 day(s) ago
  • Updated:December 18, 2025 at 04:17 PM

Heating and cooling

  • Cooling:Central Air, Window Units
  • Heating:Floor Furnance, Forced Air, Gas

Structure and exterior

  • Year built:1976
  • Lot area:0.15 Acres

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$540,000
  • Tax amount:$4,290 (2023)

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