400 N Main Street,Princeton, IL 61356
Princeton, IL 61356
Description
This well-maintained 12-unit mixed-use property presents a compelling opportunity for investors seeking immediate cash flow with additional upside potential. The asset is comprised of three residential units (two spacious two-bedroom apartments and one efficiently designed studio), alongside nine commercial spaces fronts that provide diversified income streams. Over the past several years, the building has undergone significant renovations, resulting in a turnkey investment requiring no immediate capital improvements. All units are in strong condition, allowing a new owner to step in and begin generating revenue from day one. In addition to its current income, the property features a partially finished lower level, offering clear value-add potential. Investors may explore opportunities to further develop this space into additional residential or commercial units, subject to local zoning and approvals, thereby increasing overall returns. With a balanced unit mix, recent upgrades, and future expansion potential, this property is ideally positioned for both stable cash flow and long-term appreciation.
Details
| MLS # | 12470751 |
|---|---|
| Listing Type | For Sale |
| Style | Office/tech |
| Sub-Type | Resale |
| Status | Active |
| Year | 1947 |
| Days On Site | 163 |
| Listing Provided By | Landmark Realty of Illinois LLC | Janelle McCarter |
Features
| SQ Feet | 7,786 |
|---|---|
| Story(s) | 3 |
| Units | 12 |
| Zoning | COMMR |
| Acreage | 0.36 |
Interior
| Cooling | Window Unit(s) |
|---|
Exterior
| Construction Materials | Vinyl Siding |
|---|
Utilities
| Utilities | Electric to Site, Natural Gas Available, Sewer Connected |
|---|---|
| Electric | Circuit Breakers, Separate Meters |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 2898.18 |
Area Information
| State | IL |
|---|---|
| County | Bureau |
| City | Princeton |
| Zip Code | 61356 |
| Area | Hollowayville | Princeton |
| Listing VS Median (in 61356) | |
Price: $420,000 low | high Med: $262,500 sqft: 7,786 low | high Med: 2,010 $ / sqft: $54 low | high Med: $138 On site: 163 low | high Med: 65.5 | |
Market Activity 61356
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Learn More About This Property
| State | IL |
|---|---|
| County | Bureau |
| City | Princeton |
| Zip Code | 61356 |
| Area | Hollowayville | Princeton |
| Listing VS Median (in 61356) | |
Price: $420,000 low | high Med: $262,500 sqft: 7,786 low | high Med: 2,010 $ / sqft: $54 low | high Med: $138 On site: 163 low | high Med: 65.5 | |