320 Main StColfax, IL 61728

Property Details for 320 Main St

Property type

Commercial real estate

APN

17-02-155-012

APU

1702155012

Description

This exceptional investment opportunity presents a ten-unit multifamily property located at 320 E Main Street, Colfax, Illinois. The property encompasses 5,487 square feet and sits on a 0.79-acre lot. Crucially, this property participates in the USDA Section 515 program, meaning rents are subsidized by the United States Department of Agriculture. Prospective buyers must possess a thorough understanding of and qualification for participation in government-subsidized housing programs like Section 515. Detailed financial information is available upon request to qualified buyers who demonstrate their familiarity with the USDA's requirements for purchasing such properties. It's important to note that this sale includes a package deal with an additional 34 units located in Gibson City, Illinois (MLS# 11617011). This presents a significant portfolio acquisition opportunity for investors experienced in this specific niche of the real estate market. The property is offered at $300,000 and represents a compelling investment for those meeting the necessary qualifications and possessing the expertise to manage properties within the USDA Section 515 program. Serious inquiries only from qualified buyers are encouraged.

Location Insight

City

Colfax

County

Mclean

State

Illinois

Latitude

40.5665

Longitude

-88.6114

CBSA code

14010

CBSA name

BLOOMINGTON, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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