2017 Philo Road

Urbana, IL 61802

This 24-unit apartment building in Urbana, Illinois, offers a rare and highly sought-after opportunity for investors seeking a true value-add project. All units are currently vacant and in need of renovation, presenting significant upside through capital improvements and repositioning. Each unit is a 1-bedroom, 1-bath layout similar to stabilized properties nearby, with market rents ranging from 850 dollars per month after rehab. The property is located near the intersection of Silver Street and Philo Road - a central Urbana neighborhood with strong rental demand from students, professionals, and Section 8 tenants. Whether you're a seasoned investor or new to multifamily repositioning, this asset is ideal for increasing long-term equity and generating strong returns in a proven rental market.

Listing Courtesy of MRED as distributed by MLS Grid of eXp Realty,LLC-Mahomet



Based on information submitted to the MLS GRID as of 2025-08-02 06:43 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2025-08-02 06:43 PM UTC
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