320 W Main Street, Decatur, IL
$540,000
Active
0.15 Acres
About 320 W Main Street
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.
Facts & Features
| MLS® # | 6252608 |
|---|---|
| Price | $540,000 |
| Bathrooms | 0.00 |
| Acres | 0.15 |
| Year Built | 1976 |
| Type | Single Family |
| Sub-Type | Multi Family |
| Status | Active |
| Taxes | $4,290 |
| Tax Year | 2023 |
Community Information
| Address | 320 W Main Street |
|---|---|
| Subdivision | Western Add |
| City | Decatur |
| County | Macon |
| State | IL |
| Zip Code | 62522 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Appliances | Range, Refrigerator, Cooktop, Electric Water Heater, Oven, Range Hood |
|---|---|
| Heating | Forced Air, Gas, Floor Furnace |
| Cooling | Central Air, Other, Window Unit(s) |
| Has Basement | Yes |
| Basement | Finished, Full |
| Fireplace | No |
| # of Stories | 3 |
| Stories | Three Or More |
Exterior
| Roof | Other |
|---|---|
| Construction | Brick |
| Foundation | Basement |
School Information
| District | Decatur Dist 61 |
|---|
Additional Information
| Date Listed | June 18th, 2025 |
|---|---|
| Days on Market | 117 |
| Zoning | O-1 |
Listing Details
| Agent | Cole Babcock |
|---|---|
| Office | Vieweg RE/Better Homes & Gardens Real Estate-Service First |