The Decatur Eleven - Multifamily - 320 W Main Street

320 W Main Street is a centrally located multifamily property in the heart of Decatur, IL, offering convenient access to downtown amenities, public transit, and major employers. Positioned just blocks from Central Park and the Decatur Civic Center, this property benefits from a walkable neighborhood and proximity to dining, shopping, and services. Its location provides strong rental appeal for tenants seeking affordable housing with urban convenience, making it an excellent investment opportunity in a stable and accessible part of the city.Completely Renovated 11-Unit Multifamily Just Steps from Downtown Decatur 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.