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Buildings By Owner | Buy, Sell & Lease Commercial Real Estate. Privately.
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Home For Sale Illinois Sheridan 2637
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Multiplex For Sale By Owner

Single Family Or 3 Unit with HUGE Storage Building By Retiring Owner




305 W Park St, Sheridan, Illinois 60551 United States
Description

Retiring owner is selling a FULLY RENTED 3 Unit Sheridan Home with a HUGE 96' X 32' Storage Building.

The home is an older 2 story with two bedroom upstairs and downstairs apartments. There is also an efficiency apartment behind the main garage. The rents total $1850 per month which will easily pay the mortgage and taxes. The building rents for $400 per month total although one side is currently vacant. The owner pays all of the utilities.

The property is managed by a rental company which charges me 10%. They find tenants, collect the rent each month, send me the check, field tenant calls, and handle maintenance. Of course, you could save this 10% if you manage it yourself.

All of the units are rented month to month and the home could VERY EASILY BE CONVERTED BACK TO A SINGLE FAMILY HOME!!! It would be a 5-6 bedroom depending what you want to do with the second kitchen upstairs. The home features a nice yard with plenty of shade.

An enormous walk up attic adds to the storage. There is a 3-car garage and a single car garage in addition to the storage building. There is a full basement as well. There is a well but sewage is provided by the village.

The home features stunning hardwood floors which have been refinished and incredible built in hardwood trim including a set of pocket doors. Newer kitchen cabinets. The home is heated with radiant heat which means very little dust and irritants.
The building is older with a cement floor and 220 wiring. It has 12 foot high doors and is divided into two separate storage areas. One are is 64' X 32'. The other is 32' X 32'. The building could use some updating, but is quite functional as it sits. The smaller side is currently rented at $150 per month. The large side is vacant, but was rented for $250 per month until recently when we decided to put the home on the market.

Both the home and the building could use some updating, but both are very solidly built, and a lot of the work has already been completed.
This is truly a ONCE IN A LIFETIME opportunity to purchase a property with so many features and such potential. Check the numbers yourself. $1850 rent for the house. $400 for the building. All rents could and should be higher. Low interest rates make this a fantastic buy!!!

This property is being offered BY OWNER for a VERY LIMITED TIME at the price of $159,900. It will be listed with a realtor very soon. Don't delay or you will miss this opportunity!!!

Price: $159,900
Property Sub-Type: Multiplex
Listing ID: 2637

Map of: 305 W Park St, Sheridan, Illinois 60551 United States

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