248 Park St Decatur, IL 62523

This exceptional investment opportunity encompasses three interconnected buildings totaling 11,884 square feet situated on a 0.12-acre lot in Decatur, Illinois' vibrant downtown core, overlooking Central Park. The property, built in 1890, features three street-level commercial spaces, two of which are currently leased with renewal terms beginning January 2025. A third retail space, previously a Subway, is available and equipped with modern finishes and restaurant-grade infrastructure. Above the commercial spaces are two two-bedroom, one-bathroom apartments boasting stunning park views. The property also includes two additional untapped floors offering significant multifamily development potential. The property is zoned B4 and has three buildings across two stories. The combined parcel includes APNs 04-12-14-151-013, 04-12-14-151-014, and 04-12-14-151-010. This mixed-use property presents a compelling value-add opportunity with existing cash flow and the added benefit of being located within the newly established Downtown TIF District, offering potential incentives. The asking price is $695,000.