320 W Main Street
Decatur, IL, 62522
$540,000
Beds
0 Baths
0 SqFt
0.15 Acres
Add
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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.

Property Details

Price:
$540,000
MLS #:
6252608
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
MultiFamily
Subdivision:
Western Add
Listed Date:
Jun 18, 2025
Lot Size:
6,384 sqft / 0.15 acres (approx)
Year Built:
1976
Western AddDecatur Dist 61

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Schools

School District:
Decatur Dist 61

Interior

Appliances
Cooktop, Electric Water Heater, Oven, Range, Refrigerator, Range Hood
Cooling
Central Air, Other, Window Units
Heating
Forced Air, Floor Furnace, Gas

Exterior

Construction Materials
Brick
Roof
Other

Financial

Tax Year
2023
Taxes
$4,290

Map

Community

Subdivisions in Decatur

Market Summary

Current real estate data for Single Family in Decatur as of Sep 14, 2025
255
Single Family Listed
35
Avg DOM
64
Avg $ / SqFt
$171,688
Avg List Price

Property Summary

    Located in the Western Add subdivision, 320 W Main Street Decatur IL is a Single Family for sale in Decatur, IL, 62522. It is listed for $540,000 and features 0 beds, 0 baths, and has approximately 0 square feet of living space, and was originally constructed in 1976. The average price per square foot for Single Family listings in Decatur is $64. The average listing price for Single Family in Decatur is $171,688.

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