412-414 Locust St - Retail FOR SALE


Delavan, IL 61734
$279,900 USD
309-323-0399
412-414 Locust St, Delavan, IL for Sale
$279,900 USD
Retail - FOR SALE
1/16
null | Request Cap Rate

412-414 Locust St
Delavan, IL 61734


HIGHLIGHTS

  • Historic Building
  • Desirable Location
  • Recently Improved

OVERVIEW

Excellent opportunity to own a historic building on the square downtown in Delavan. This investment property consists of two retail spaces and one apartment on the main level, and 3 apartments on the upper level of the building. New carports were put in to provide spaces for each unit. All four apartments are currently leased and both retail spaces are currently leased. There is one space still available that the current owners are using for storage that could be added to either retail unit. The building has been well cared for, updated and includes a common laundry room. Current rents are $3,450 per month. Recent improvements include new downspouts/gutters, front foundation and facade (2020), roof was repaired and resealed in 2024, and many windows have been replaced.

FOR SALE DETAILS

PRICE

$279,900 USD

PRICE/SF

$154 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1891

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

Business

APN/PARCEL ID

21-21-10-125-017

ASK ABOUT THIS PROPERTY

Justin BallRE/MAX Traders Unlimited CommercialMore Info
309-323-0399

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Justin BallRE/MAX Traders Unlimited CommercialMore Info
309-323-0399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.