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Great Western 132 S Main St

9 Unit Apartment Building $445,000 ($49,444/Unit) Stockton, IL 61085

Apartment Buildings Illinois Stockton 132 S Main St, Stockton, IL 61085

Investment Highlights

  • Historical apartment location with recently updated features.
  • Recently approved for 2 vacation rentals.
  • Currently has 8 fulltime apartments and 1 owner suite.
  • Apartment building with 9 apartments and room for 3 more.
  • Possible commercial use on the first floor for a coffee shop or outdoor patio.
  • Roof replaced in 2023 and electrical, heating, and plumbing has been upgraded in recent years.

Executive Summary

The Great Western is a 3 story gateway building to historic downtown Stockton IL. (the birthplace of Kraft Foods). Named after the Chicago Great Western Railroad ,it was built in 1899 to house railroad workers. It has since been converted into an apartment building with 9 apartments and room for 3 more. Recently approved for 2 vacation rentals. Possible commercial use on the first floor,(coffee shop with outdoor patio?) Currently has 8 fulltime apartments and 1 owner suite. Roof replaced in 2023 and electrical, heating, and plumbing has been upgraded in recent years. Reliable internet service to the building and coin operated laundry on site. All tenants fully vetted with 1 year leases, and a 5% escalation clause. Call for rent roll and T12 statement. (815-238-8781)

Property Facts

Price $445,000 Building Class C
Price Per Unit $49,444 Lot Size 0.09 AC
Sale Type Investment Building Size 8,400 SF
Sale Conditions
1031 Exchange
  • Building in Shell Condition
 Average Occupancy 100%
No. Units 9 No. Stories 3
Property Type Multifamily Year Built/Renovated 1899/2019
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
 Parking Ratio 1.07/1,000 SF
Apartment Style Low Rise Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $445,000
Price Per Unit $49,444
Sale Type Investment
Sale Conditions
1031 Exchange
  • Building in Shell Condition
No. Units 9
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Low Rise
Building Class C
Lot Size 0.09 AC
Building Size 8,400 SF
Average Occupancy 100%
No. Stories 3
Year Built/Renovated 1899/2019
Parking Ratio 1.07/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Air Conditioning
  • Microwave
  • Heating
  • Refrigerator
  • Tub/Shower

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 9 - -
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PROPERTY TAXES

Parcel Number 17-001-011-00 Improvements Assessment $13,410
Land Assessment $1,290 Total Assessment $14,700

PROPERTY TAXES

Parcel Number
17-001-011-00
Land Assessment
$1,290
Improvements Assessment
$13,410
Total Assessment
$14,700

zoning

Zoning Code 0060 (Improved Commercial)
0060 (Improved Commercial)
(815) 238-8781

Contact

  • Ted Davenport
    Ted Davenport
  • Main Street Realty

  • Listing ID: 32905971

  • Date on Market: 8/21/2024

  • Last Updated:

  • Address: 132 S Main St, Stockton, IL 61085

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Great Western | 132 S Main St
(815) 238-8781 x

Great Western | 132 S Main St

Ted Davenport

(815) 238-8781

(815) 238-8781

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