For Sale
$675,000

120 Side Sq Macomb, IL 61455

Historic building, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional commercial property, located in the heart of historic downtown Macomb, Illinois, presents a compelling investment opportunity. The 16,608-square-foot building, constructed in 1900, boasts two ground-floor retail spaces, each exceeding 4,000 square feet and currently leased. These spaces offer convenient access from both the downtown square and Carroll Street. The building's second level comprises four studio apartments, three rented at $400 per month and one at $450, with utilities included. An additional approximately 5,000 square feet of unfinished space on the second floor offers significant potential for expansion and increased rental income. The property has undergone extensive renovations in the past five years, including exterior tuckpointing, a Durolast PVC roof, new windows, HVAC units for the apartments, a new front awning, and a 7.5-ton AC unit for the commercial space. This turnkey investment offers strong current rental income and substantial upside potential through further development of the existing space. The asking price is $675,000. Located at 120 N Side Square, Macomb, IL 61455.

Highlights

  • Historic downtown Macomb, IL location.
  • 16,608-square-foot building with two ground-floor retail spaces (each >4,000 sq ft, currently leased).
  • Four second-floor studio apartments (three at $400/month, one at $450/month, utilities included).
  • Approximately 5,000 sq ft of unfinished second-floor space for expansion.
  • Recently renovated (past 5 years): exterior tuckpointing, Durolast PVC roof, new windows, HVAC (apartments), new awning, 7.5-ton AC (commercial space).
  • Asking price: $675,000.

Property Details for 120 Side Sq

Property type
Specialty properties, Land
Square Feet
16,608 SF
Year Built
1900
Buildings
1

Location Insight

City
Macomb
County
McDonough
State
Illinois
Latitude
40.4593726
Longitude
-90.670862

FAQs

What type of property is this?
Specialty property - Historic building, high rental income.
Where is the specialty property located?
The property is located at 120 Side Sq Macomb, IL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Historic downtown Macomb, IL location.; 16,608-square-foot building with two ground-floor retail spaces (each >4,000 sq ft, currently leased).; Four second-floor studio apartments (three at $400/month, one at $450/month, utilities included).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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120 Side Sq
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