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.
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.
Property Details
Price:
$2,130,000
MLS #:
6257557
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
MultiFamily
Subdivision:
West View Add 04
Listed Date:
Mar 17, 2026
Lot Size:
21,780 sqft / 0.50 acres (approx)
Year Built:
1964
See this Listing
Schools
School District:
Decatur Dist 61
Interior
Appliances
Water Heater
Cooling
Central Air, Window Units
Levels
Three Or More
Exterior
Roof
Other
Stories
3
Financial
Tax Year
2024
Taxes
$15,590
Map
Community
- Address105111117 & 133 Elder Lane Decatur IL
- SubdivisionWest View Add 04
- CityDecatur
- CountyMacon
- Zip Code62522
Market Summary
Current real estate data for Single Family in Decatur as of May 15, 2026
242
Single Family Listed
91
Avg DOM
$181,039
Avg List Price
Property Summary
- Located in the West View Add 04 subdivision, 105111117 & 133 Elder Lane Decatur IL is a Single Family for sale in Decatur, IL, 62522. It is listed for $2,130,000 and features 0 beds, 0 baths, and has approximately 0 square feet of living space, and was originally constructed in 1964. The average listing price for Single Family in Decatur is $181,039.
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105111117 & 133 Elder Lane
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