110 Thompson Drive

110 Thompson Drive, Lincoln, IL 62656

  • For Sale $1,800,000
  • Property Type Multi-Family
  • Property Size 50,000 SF
  • Units 56
  • Lot Size 7.67 Acre
  • Year Built 2002
  • Date Updated Aug 4, 2025
Property in Lincoln, IL110 Thompson Drive, Lincoln, IL is a 56-unit multifamily property offering a value-add opportunity in a stable Central Illinois market. The unit mix includes 32 one-bedroom, 16 two-bedroom, and 8 three-bedroom apartments—most of which have been upgraded with a combination of tile, carpet, and / or Luxury Vinyl Plank flooring, new white appliances, and new paint. Remaining units provide an opportunity for further rent growth through continued light renovations. Ideally situated just off Illinois Route 121, the property offers tenants easy access to key retailers such as Walmart, ALDI, Kroger, and Walgreens, as well as restaurants and daily conveniences. Major nearby employers include Abraham Lincoln Memorial Hospital, Lincoln Correctional Center, the Illinois Department of Corrections, and Lincoln College, all supporting strong and stable rental demand. With updated interiors, walkable retail access, and renovation upside, 110 Thompson Drive is well-positioned for both strong current cash flow and long-term appreciation.
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Highlights

  • Convenient Access to Retail & Services: Just off Illinois Route 121, tenants are minutes from Walmart, ALDI, Kroger, Walgreens, and a variety of restaurants and service retailers.
  • Located in a Well-Rated School District: Zoned for Lincoln Elementary School District 27 and Lincoln Community High School District 404, both considered above-average - making the location attractive to families.
  • Proximity to Major Employers: Located near Abraham Lincoln Memorial Hospital, Lincoln Correctional Center, the Illinois Department of Corrections, and Lincoln College, all of which support steady rental demand.
  • Recent Improvements with Room for Further Value Add: 49 units have been upgraded with new flooring, paint, and finishes. The remaining 7 units offer an opportunity for continued renovations and rent growth.
  • Strong Market Fundamentals: With limited new multifamily supply in the area and growing demand for affordable, updated rentals, 110 Thompson Drive is positioned for both stable cash flow and long-term value appreciation.
  • Tenant-Controlled Utilities: Tenants pay electricity, giving them control over their own usage and monthly costs. Ownership covers water, sewer, gas, and trash, creating a simple and transparent billing structure.

Contacts

broker
Cody Doran

SVN | Chicago Commercial

Location

Getting Around

  • Walk Score ®

    8/100 Car-Dependent

  • Bike Score ®

    36/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Lincoln, IL
  • Neighborhood Lincoln
  • Zip Code 62656

Points of Interest

  • Lincoln

    1.31 miles

  • Thorntons

    1.20 miles

  • BP

    1.20 miles

  • Phillips 66

    2.36 miles

  • Casey's General Store

    2.54 miles

  • Pilot

    3.96 miles

  • Budget Inn

    1.03 miles

  • Hotel Lincoln Inn

    2.62 miles

  • Super 8 by Wyndham Lincoln

    3.74 miles

  • Quality Inn & Suites Lincoln near I-55

    3.78 miles

  • Comfort Inn & Suites near Route 66

    4.11 miles

  • Jimmy John's

    1.23 miles

  • Domino's

    1.26 miles

  • Subway

    1.29 miles

  • Guzzardo's

    1.33 miles

  • Hardee's

    1.99 miles

  • Imo's Cafe

    2.10 miles

  • Dairy Queen

    2.43 miles

  • McDonald's

    2.68 miles

  • Culver's

    3.44 miles

  • Country-Aire Restaurant

    9.63 miles

  • Lincoln Christian Institute

    0.28 miles

  • Abe Lincoln School

    0.74 miles

  • Chester-East Lincoln Elementary School

    0.92 miles

  • Washington-Monroe Elementary School

    1.03 miles

  • Heartland Community College

    1.24 miles

  • Lincoln Community High School

    1.27 miles

  • Lincoln College

    1.29 miles

  • Adams Elementary School

    1.43 miles

  • Lincoln Junior High School

    1.46 miles

  • Central Elementary School

    1.57 miles

Frequently Asked Questions

How much does 110 Thompson Drive cost?

The space currently listed for sale at 110 Thompson Drive asks for $1,800,000.

What is the total square footage of 110 Thompson Drive?

110 Thompson Drive totals 50,000 square feet.

When was this property built?

110 Thompson Drive was built in 2002.

Looking for more in-depth information on this property?

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Contact Listing Broker
broker
Cody Doran

SVN | Chicago Commercial

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