Two for the price of one! This great Downtown property will increase your portfolio with two buildings that currently gross over $78,000 annually. The first floor of the main building at 500 S 8th is occupied by a restaurant (long term tenant and Quincy staple). The second floor of the building is comprised of 11 apartments. Ten 1 bedroom, 1 bath apartments and one 2 bed, 1 bath apartment. There is an additional office building located on the south end of the property. This commercial property has steady occupancy with low vacancy rates. All units are currently rented and tenants are all current on rents. Owner pays trash and water and electric for two of the apartments. 500 State roof done 10 years ago. Other roofing is rolled roofing. HVAC for the restaurant and the office buildings are approx 2 years old. Let this one make money for you! Selling as is with inspections welcome.
View full listing details| Price: | $465,000 |
| Address: | 500-522 S 8TH Street |
| City: | Quincy |
| County: | Adams |
| State: | Illinois |
| Zip Code: | 62301 |
| MLS: | CA1015488 |
| Square Feet: | 13,500 |
| addressSearchNumberMLS: | 500 |
| availableSqFt: | 13500 |
| buildingFeatures: | Cable, Fiber Optics |
| buyerAgencyCompensation: | 2.5% |
| commonLaundryYN: | no |
| constructionMaterials: | Brick |
| cooling: | Central Air, Wall/Window Unit(s) |
| currentFinancing: | Cash Only, Conventional |
| directions: | SW Corner of 8th and State |
| documentsAvailable: | Other |
| dualVariableCompensationYN: | no |
| firstPhotoAddDate: | 2022-07-01T23:10:30.3 |
| flooring: | Carpet, Concrete, Wood |
| forLeaseYN: | no |
| forSaleYN: | yes |
| frontageType: | City Street, Corner Lot |
| garagesYN: | no |
| heating: | Electric, Forced Air, Gas |
| individualLaundryYN: | no |
| inputType: | Commercial |
| insulationMLS: | Unknown |
| levels: | Three |
| listingVisibilityTypeMLS: | MLS Listing |
| locationMLS: | Downtown |
| lotSizeDimensions: | 100x188 |
| lvtDateMLS: | 2022-07-01 |
| mlsAreaMinor: | Quincy |
| mlsStatus: | Pending (No Showings) |
| netOperatingIncome: | -6994 |
| numberOfUnitsTotal: | 11 |
| otherAccessMLS: | None |
| ownerPays: | Electricity, Trash Collection, Water |
| possibleUse: | Multi-Family, Office, Restaurant |
| roof: | Flat |
| saleLeaseIncludesMLS: | Building |
| saleRentMLS: | For Sale |
| searchPriceMLS: | 465000 |
| sewer: | Public Sewer |
| taxAnnualAmount: | 6994 |
| taxIncentive: | None |
| taxYear: | 2021 |
| tenantPays: | Electricity, Gas |
| waterSource: | Municipal/City |
