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.
Pending
$225,000
506 W William St, Champaign, IL 61820
3beds
--sqft
Multi Family
Built in 1923
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Upper-level studio apartmentCentral air conditioningDetached one-car garageMain-level two-bedroom one-bath unitCovered porchesFull basementAdditional off-street parking
- 26 days |
- 2,055 |
- 91 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
PJ Trautman, GRI 217-714-1234,
Trautman Real Estate Agency & Appraisal LLC
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
- Ownership: Fee Simple
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 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 | $29,420 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 61820
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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A local lender can help you make sure your offer is ready when you are.
- Illinois
- Champaign County
- Champaign
- 61820
- 506 W William St
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