501 SW 3rd Street, Aledo, IL 61231
501 SW 3rd Street, Aledo, IL 61231
501 SW 3rd Street, Aledo, IL 61231
501 SW 3rd Street, Aledo, IL 61231
501 SW 3rd Street, Aledo, IL 61231
501 SW 3rd Street, Aledo, IL 61231
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Melissa Overman

Melissa Overman

+1(815) 210-5141
Listed by Starr Fellof eXp Realty
$ 189,500
Est. payment | /mo

5,662 Sqft Lot

Save
$ 189,500
Est. payment | /mo
Save

5,662 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12629533

Year Built 1954

Annual Tax Amount $5,424

Tax Year 2024

Lot Size 5,662 Sqft

Lot Dimensions 96x60

Property Sub-Type Two to Four Units

Property Description

Well-maintained 5-unit apartment building located within walking distance to schools, parks, churches, the YMCA, historic downtown Aledo, restaurants, shopping, and a movie theater. This property offers a strong investment opportunity with multiple unit types and a convenient in-town location. The building consists of five units, including one efficiency apartment (formerly office space) located at the front of the building, two 2-bedroom units on the main level, and two 1-bedroom units on the upper level. The three main-level units offer accessibility-friendly features. Recent updates include windows, flooring, insulation, appliances, downspouts, and heating systems, contributing to the overall maintenance and functionality of the property. At the time of listing, four units are tenant-occupied with established tenancy ranging from approximately 2 to 13 years. The efficiency unit is currently vacant, offering an opportunity for additional rental income. Buyer will assume existing leases.

Location

State IL

County Mercer

Community Curbs, Sidewalks, Street Lights, Street Paved

Rooms

Basement None

Interior

Heating Baseboard

Fireplace N

Exterior

Exterior Feature Lighting

View Y/N true

Roof Type Asphalt

Building

Lot Description Corner Lot, Level

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

New Construction false

Schools

Elementary Schools Apollo Elementary School

Middle Schools Mercer County Junior High School

High Schools Mercer County High School

School District 404, 404, 404

Others

Ownership Fee Simple

Special Listing Condition None

Midwest Real Estate Data (MRED) VOW
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.

Nearby Locations

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50 S Main St, Naperville, IL, 60540, USA
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501 SW 3rd Street