#6245377, Listing office: Main Place Real Estate
Property details
About 320 W Main St
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.
Highlights
Home typeMulti Family
HeatingNatural Gas, Forced Air, Floor Furnace
StatusActive
CoolingCentral Air, Other, Window Unit(s)
BasementYes
Lot size0.15 Acres
Year built1976
MLS #6252608
Summary
- Appliances: Cooktop, Electric Water Heater, Oven, Range, Refrigerator, Range Hood
- Basement: Yes
- Heating: Natural Gas, Forced Air, Floor Furnace
- Cooling: Central Air, Other, Window Unit(s)
- List Price: $540,000
- Annual Tax Amount: $4,289
- Tax Year: 2023
- Year Built: 1976
- Stories: 3
- Lot Size: 0.15 Acres
- MLS Number: 6252608
- MLS Name: CentralIL
- Office Name: Vieweg RE/Better Homes & Gardens Real Estate-Service First
- Office Phone: (217) 450-8500
- Office Email: timvieweg@viewegrealestate.com
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Central Illinois Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2025 Central Illinois Board of Realtors.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/20/2025, 11:45:35 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Oct 23, 2023 | Home Sold | $999,900 |
| Oct 18, 2023 | Home Sold | $795,000 |
| Jul 02, 2013 | Home Sold | $525,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $43,104 | $4,289 |
| 2022 | $39,886 | $4,079 |
| 2021 | $37,250 | $3,832 |
| 2020 | $35,520 | $3,777 |
| 2019 | $35,520 | $3,777 |
| 2018 | $35,059 | $3,683 |
| 2017 | $35,995 | $3,770 |
History based on county public records data.
Nearby schools
2
South Shores Elementary School
Public District KG-6
2.2 mi
•2500 S Franklin Street Rd
1
Franklin Grove Elementary School
Public District KG-6
2.4 mi
•2440 N Summit Ave
2
E. J. Muffley Elementary School
Public District KG-6
2.9 mi
•88 S Country Club Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $30,185. Most Decatur, IL residents have annual incomes less than $<35k. Most families are single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
53%
<35k
33%
35k-100k
11%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
69%
Single, No Kids
14%
Single, with Kids
10%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
6%
12-17 yrs old
40%
18-34 yrs old
35%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
UFC
Pro Wrestling
NBA/WNBA
Where do the neighbors shop?
Family Dollar
Burlington
Express/Express For Men
Where do the neighbors go to eat?
Burger King
Cicis Pizza
Starbucks
What do the neighbors drive?
Buick
Pontiac
Cadillac
What do the neighbors listen to?
Urban Contemporary
Jazz
Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
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Frequently asked questions
About 320 W Main St
The listing price of 320 W Main St property is $540,000.
The property 320 W Main St is a multi located in Decatur, Illinois, 62522.
Active Listing: 320 W Main St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 320 W Main St are: South Shores Elementary School (GreatSchools Rating 2/10), Franklin Grove Elementary School (GreatSchools Rating 1/10), E. J. Muffley Elementary School (GreatSchools Rating 2/10), Johns Hill Magnet School (GreatSchools Rating 4/10), Hope Academy (GreatSchools Rating 1/10), Dennis Lab School (GreatSchools Rating 1/10), MacArthur High School (GreatSchools Rating 1/10), Eisenhower High School (GreatSchools Rating 1/10), Mt Zion High School (GreatSchools Rating 7/10).
According to the records, the last property tax for 2023 is $4,289 (source: MLS/based on county public records data).
The last sale was on October 23, 2023 for $999,900 (source: MLS/tax record).
The year of construction for 320 W Main St is 1976.
This home is located at 320 W Main St in Decatur, IL and zip code 62522. Features: 0 bathroom. It has been listed on Rocket Homes since June 18, 2025 and is currently priced at $540,000.
While more than 28 listings in Decatur, IL in June 2025 were sold above asking price, there were more than 25 listings sold at asking price, and more than 34 were sold below. Between May and June 2025, Decatur, IL real estate market has seen increase in the number of listings by 1.9%. In June 2025 median list price was $130,000 and the average listing age was 18 days.
From Rocket Homes Real Estate and based on county public records data.