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2854 N Illinois Street

Indianapolis, IN 46208

ActiveListed Oct 19, 2026 · 1 day on market

Key facts

Beds
1
Living area
4,249 sqft
Lot
0.2 acres
Year built
1920
Type
Residential · Single Family Residence
Stories
Three or more
Garage
2 spaces
MLS #
22132137
County
Marion
Subdivision
Burton & Campbells Park
Total building area
5,119 sqft

About this home

Zoned for Up to 5 Units | Garage | Prime Redevelopment Opportunity - Endless Potential! Bring your vision and unlock the possibilities with this blank-slate opportunity. This property is ready for a complete transformation, allowing you to skip much of the demolition and clean-out work and focus on creating value. With zoning that allows up to 5 units , this property offers multiple investment strategies, including multifamily development, a duplex conversion, AirBnB, or a custom renovation project. Property features include: 3rd floor with staircase, detached 2-car garage, convenient location near Ivy Tech and the Children's Museum, surrounded by newly built and recently renovated homes, highlighting the area's continued growth and revitalization. Whether you're an investor, developer, experienced rehabber, or potential homeowner, this is an opportunity to create something special in a nice neighborhood. Property sold AS-IS, needs TLC. Home is currently under construction/rehab conditions so exercise caution and be safe when touring. Adjacent land is not included in the sale. This a completely gutted already existing structure. No primary bedroom exists as there is only framing, the sqft are possible measurements if built and info for bedroom and all other info for listing collected from tax data and info available on MIBOR. It is listed as a single family residence for technical reasons on MIBOR, it can be a home, zoned for a duplex , used as multi family and approved for 5+ units, etc. OWNER FINANCING available with an acceptable down payment.

Description provided by the listing brokerage.

Interior

Interior features
Attic AccessAttic Stairway
Basement
Unfinished
Fireplaces
1
Fireplace type
Living Room
Windows
Screens
Condition
Under Construction

Exterior

Exterior features
Fire Pit
Construction
Vinyl SidingWood Siding
Foundation
Block
Style
Contemporary
Parking and garage
Detached
View
Trees/Woods

Systems

Water
Public

Lot and HOA

Lot features
CurbsSidewalks

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$5,134 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,398per month, estimated
Principal and interest $907Property tax $428Insurance $63
20% · $36,000
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$180,000
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