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Listed by Janelle McCarterof Landmark Realty of Illinois LLC
$ 440,000
Est. payment /mo
Active
400 N Main Street Princeton, IL 61356
7,786 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 7,786 sqft
Price per Sqft $56
MLS Listing ID 12470751
Year Built 1947
Annual Tax Amount $3,232
Tax Year 2024
Lot Size 0.360 Acres
Lot Dimensions 120 X 130
Property Sub-Type Office/Tech
Property Description
This well-maintained 12-unit mixed-use property presents a compelling opportunity for investors seeking immediate cash flow with additional upside potential. The asset is comprised of three residential units (two spacious two-bedroom apartments and one efficiently designed studio), alongside nine commercial spaces fronts that provide diversified income streams. Over the past several years, the building has undergone significant renovations, resulting in a turnkey investment requiring no immediate capital improvements. All units are in strong condition, allowing a new owner to step in and begin generating revenue from day one. In addition to its current income, the property features a partially finished lower level, offering clear value-add potential. Investors may explore opportunities to further develop this space into additional residential or commercial units, subject to local zoning and approvals, thereby increasing overall returns. With a balanced unit mix, recent upgrades, and future expansion potential, this property is ideally positioned for both stable cash flow and long-term appreciation.
Location
State IL
County Bureau
Zoning COMMR
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected
View Y/N true
Building
Water Municipal Water
Structure Type Vinyl Siding
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