209 Charleston BlvdMacomb, IL 61455

Property Details for 209 Charleston Blvd

Year built

1960

Property size (Sq ft)

30,240 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a well-maintained, 48-unit apartment building located at 209 Charleston Blvd, Macomb, Illinois, 61455. The property, built in 1960, comprises three, three-story buildings totaling 30,240 square feet of net rentable space. Offered at $2,200,000, this represents a remarkably low price per unit of approximately $45,000, significantly below current replacement cost. The property benefits from a stable occupancy and boasts significant value-add potential through moderate unit renovations and operational improvements. Current ownership has invested considerable capital in recent improvements, ensuring the property is well-maintained. Its prime location near Western Illinois University provides a strong tenant base. The property is offered free and clear of existing debt, presenting a compelling opportunity for immediate returns and long-term growth. This stabilized offering presents attractive value-add upside potential with cosmetic improvements and operational enhancements readily achievable. The property's strong fundamentals and exceptional location make it an ideal investment for discerning buyers seeking a high-return opportunity in a stable market.

Location Insight

City

Macomb

County

McDonough

State

Illinois

Latitude

40.4598

Longitude

-90.6929

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