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$ 165,000
Est. payment | /mo
$ 165,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12629224
Year Built 1890
Annual Tax Amount $2,350
Tax Year 2024
Lot Dimensions 80x25
Property Sub-Type Mixed Use
Property Description
Outstanding investment opportunity in the heart of downtown Monticello! This all-brick commercial building offers a rare chance to own a high-character, mixed-use property with dual income streams. The upper-level loft apartment features a private entrance and spans approximately 1,622 square feet, showcasing tall ceilings, a modern, contemporary feel, and an open-concept layout filled with natural light. With modest updates already completed, the space offers a large, airy living area, one bedroom, and access to an exterior balcony, creating a highly desirable residential setup. Currently leased at $875/month, the loft has separate utilities, with the tenant responsible for all expenses. Recent improvements to the loft include three new windows, enhancing natural light and overall appeal. The main level consists of approximately 1,800 square feet of commercial retail space with a prominent storefront along Washington Street, positioned next to a popular restaurant and bar. The commercial space is currently leased with a strong tenant history but presents a clear value-add opportunity with below-market rents and potential for increased income. Both units operate independently with separate utilities, with tenants covering all utility expenses. Additional recent updates include fresh exterior paint, adding to the building's curb appeal and long-term maintenance value. Currently generating approximately $15,000 annually with tremendous upside potential, this may be one of the only available commercial opportunities in downtown Monticello. Don't miss your chance to invest in a prime location with built-in income and room to grow.
Location
State IL
County Piatt
Area Western Champaign County / Piatt & Mcclean Counties
Interior
Cooling Central Air
Flooring Wood
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected, Water Available
Roof Type Membrane
Building
Dwelling Type Mixed Use
Structure Type Brick,Glass
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Listed by Nate Evans of Nate Evans Group