Located in an established Champaign neighborhood near downtown and the University of Illinois, 506 W William St. is a duplex investment opportunity offering strong rental potential and future upside. The property features a main-level two-bedroom, one-bath unit and an upper-level studio apartment with approximately 1,282 square feet of living space, a full basement, covered porches, central air conditioning, and a detached one-car garage with additional off-street parking. Current rents are below market, creating value-add potential for future ownership. This property would work well as an investment property or future owner-occupied opportunity in a strong rental location.
Closed
$217,500
506 W William St, Champaign, IL 61820
3beds
--sqft
Multi Family
Built in 1923
-- sqft lot
$217,700 Zestimate®
$--/sqft
$1,230 Estimated rent
Home value
$217,700
$207,000 - $229,000
$1,230/mo
Zestimate® history
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$1,634/mo
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List your homeWhat's special
Upper-level studio apartmentCentral air conditioningDetached one-car garageMain-level two-bedroom one-bath unitCovered porchesFull basementAdditional off-street parking
Zillow last checked:
Listing updated:
Listed by:
PJ Trautman, GRI 217-714-1234,
Trautman Real Estate Agency & Appraisal LLC
Bought with:
Russell Taylor, ABR,CRB,CRS,GRI,SRES
Taylor Realty Associates
Source: MRED as distributed by MLS GRID,MLS#: 12650535
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Natural Gas
Features
- Basement: Unfinished,Full
Property
Parking
- Total spaces: 3
- Parking features: Yes, Garage Owned, Detached, Off Street, Driveway, Owned, Garage
- Garage spaces: 1
- Has uncovered spaces: Yes
Lot
- Size: 3,808 Square Feet
- Dimensions: 68x56
Details
- Parcel number: 432013177026
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subtype: Multi Family
Materials
- Vinyl Siding
Condition
- New construction: No
- Year built: 1923
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Champaign
Financial & listing details
- Tax assessed value: $136,170
- Annual tax amount: $4,279
- Date on market: 6/12/2026
- Listing terms: Conventional
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 8/5/2026 | Sold | $217,500-3.3% |
Source:  MRED as distributed by MLS GRID #12650535 Report a problem | ||
| 7/5/2026 | Pending sale | $225,000 |
Source: MRED as distributed by MLS GRID #12650535 Report a problem | ||
| 6/12/2026 | Listed for sale | $225,000 |
Source: MRED as distributed by MLS GRID #12650535 Report a problem | ||
| 4/23/2017 | Listing removed | $890 |
Source: Zillow Rental Manager Report a problem | ||
| 4/13/2017 | Listed for rent | $890 |
Source: Zillow Rental Manager Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,958 +6.2% | $45,390 +9.8% |
| 2023 | $3,727 +6.3% | $41,330 +8.4% |
| 2022 | $3,506 +2.5% | $38,130 +2% |
| 2021 | $3,422 +3.8% | $37,380 +4% |
| 2020 | $3,295 +5.7% | $35,940 +2.1% |
| 2019 | $3,118 | $35,200 +1.6% |
| 2018 | $3,118 +3.6% | $34,650 +4% |
| 2017 | $3,011 +11.6% | $33,320 +2.1% |
| 2016 | $2,699 | $32,630 +1.8% |
| 2015 | $2,699 +0.1% | $32,050 |
| 2014 | $2,696 +0.9% | $32,050 |
| 2013 | $2,672 +1.9% | $32,050 -2% |
| 2012 | $2,622 +4.4% | $32,710 |
| 2011 | $2,512 -23.5% | $32,710 -25.9% |
| 2010 | $3,285 | $44,130 |
| 2009 | -- | $44,130 |
| 2008 | -- | $44,130 +2.9% |
| 2007 | $3,013 +1.7% | $42,880 +6.4% |
| 2006 | $2,962 +8.4% | $40,300 +11.3% |
| 2005 | $2,732 +1.8% | $36,200 +3.9% |
| 2004 | $2,683 +7% | $34,840 +3.1% |
| 2003 | $2,507 -2.6% | $33,790 +1.1% |
| 2002 | $2,574 +7.5% | $33,430 +6.9% |
| 2001 | $2,394 +6.4% | $31,270 +6.3% |
| 2000 | $2,250 | $29,420 |
Find assessor info on the county website
Neighborhood: 61820
Nearby homes
- $232,2003 bd2 ba1.1k sqft2014 1/2 W William St, Champaign, IL 61820Off Market
- $208,0003 bd2 ba1.5k sqft508 W William St, Champaign, IL 61820Sold
- $452,9004 bd4 ba2.8k sqft721 S Elm Blvd, Champaign, IL 61820Off Market
- $468,9004 bd2 ba1.7k sqft723 S Elm Blvd, Champaign, IL 61820Off Market
- $250,400-- bd2 ba-- sqft510 W William St, Champaign, IL 61820Off Market
- $342,900-- bd2 ba1.3k sqft719 S Elm Blvd, Champaign, IL 61820Off Market
- $299,800-- bd2 ba-- sqft505 W William St, Champaign, IL 61820Off Market
- $243,4003 bd1 ba1.5k sqft801 S Elm Blvd, Champaign, IL 61820Off Market
Nearby schools
GreatSchools rating
- 6/10South Side Elementary SchoolGrades: K-5Distance: 0.2 mi
- 5/10Edison Middle SchoolGrades: 6-8Distance: 0.3 mi
- 4/10Central High SchoolGrades: 9-12Distance: 0.7 mi
Schools provided by the listing agent
- Elementary: Champaign Elementary School
- Middle: Champaign Junior High School
- High: Champaign High School
- District: 4
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Illinois
- Champaign County
- Champaign
- 61820
- 506 W William St
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