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1348 Madison Avenue, Madison, IL 62060

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For Sale

$226,000

4,608 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $49.05
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

Here is your opportunity to add a solid cash flow surplus to your portfolio. This mixed use property offers a variety of income producing methods. Two out of the 3 units are currently rented, and the vacant residential unit is ready for a new tenant right away. The main floor of the building is a fully running & operational bar and grill that is currently tenant occupied, paying $1,500/mo. Items included in the sale and will be transferred to the new owner, are all of the kitchen equipment consisting of the commercial stove top, fryers, prep coolers, range hood, perfectly functioning large walk in refrigeration system, and beer coolers. Upstairs consists of two residential apartments. The occupied residential unit is a 2 Bedroom 1 Bath, paying $900/mo. The vacant unit is a spacious 1 Bedroom 1 Bath, and comes fully furnished provided by the seller, when this unit was occupied it was producing between $750-850/mo. The roof was completely replaced with architectural shingles in 2023. The commercial tenant pays ALL utilities for the building considering there is 1 electric, gas, & water meter. Lastly, there is an extra parcel included in the sale 21-2-19-401-037, it is a gravel lot for extra parking, or further development opportunity, located directly across the street on the opposite corner lot, with a seperate address of 1400 Madison Ave. Feel free to contact the listing agent for further details.
MLS# 25073689

Courtesy Of Landmark Realty Godfrey

(618) 466-1513

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Heating System
    Forced Air
  • Lot Size
    0.29 Acres
  • Rooms
    Basement

Map and Directions

Directions to 1348 Madison Avenue, Madison, IL 62060

Home seller CENTURY 21 Bailey & Co.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Bailey & Co.

(618) 931-2121
Learn More About Us

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.