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$ 3,450,000
Est. payment /mo
Active
2490 N Water ST Decatur, IL 62526
4.51 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Robert L Logans 1St Add
MLS Listing ID 6260243
Year Built 1975
Annual Tax Amount $56,422
Tax Year 2024
Lot Size 4.510 Acres
Acres 4.51
Property Sub-Type Multi Family
Property Description
Logan Square is a legacy mixed-use investment property situated in the heart of Decatur, Illinois on U.S. Route 51 (Water Street). Developed between 1975 and 1979, the 4.51-acre complex consists of three buildings: one mixed-use building with residential apartments and street-level commercial suites, along with two additional residential buildings. The property includes 70 residential units and 13 commercial suites, offering a diversified income stream across 83 total units.
The property has remained under the same original ownership since its construction, presenting a rare opportunity to acquire a locally established asset for the first time in nearly five decades. Logan Square benefits from a central location with public transportation access and close proximity to shopping, restaurants, medical facilities, and schools. Its established operating history, affordable unit mix, and potential for continued rent and occupancy growth make it an attractive value-add investment.
The property has remained under the same original ownership since its construction, presenting a rare opportunity to acquire a locally established asset for the first time in nearly five decades. Logan Square benefits from a central location with public transportation access and close proximity to shopping, restaurants, medical facilities, and schools. Its established operating history, affordable unit mix, and potential for continued rent and occupancy growth make it an attractive value-add investment.
Location
State IL
County Macon
Community Robert L Logans 1St Add
Zoning O-1
Interior
Cooling Other
Appliance Electric Water Heater
Exterior
Roof Type Other
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Decatur Dist 61
Others
Tax ID 04-12-02-301-001
Special Listing Condition None
Listed by Main Place Real Estate