1348 Madison AVE new Save Request In-Person Tour Request Virtual Tour
Madison,IL 62060
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Southern Ext
MLS Listing ID 25067606
Year Built 1940
Annual Tax Amount $1,745
Lot Size 0.293 Acres
Property Sub-Type Mixed Use
Property Description
Here is your opportunity to add a solid cash flow surplus to your portfolio. This mixed use property offers a variety of income producing methods. Two out of the 3 units are currently rented, and the vacant residential unit is ready for a new tenant right away. The main floor of the building is a fully running & operational bar and grill that is currently tenant occupied, paying $1,500/mo. Items included in the sale and will be transferred to the new owner, are all of the kitchen equipment consisting of the commercial stove top, fryers, prep coolers, range hood, perfectly functioning large walk in refrigeration system, and beer coolers. Upstairs consists of two residential apartments. The occupied residential unit is a 2 Bedroom 1 Bath, paying $900/mo. The vacant unit is a spacious 1 Bedroom 1 Bath, and comes fully furnished provided by the seller, when this unit was occupied it was producing between $750-850/mo. The roof was completely replaced with architectural shingles in 2023. The commercial tenant pays ALL utilities for the building considering there is 1 electric, gas, & water meter. Lastly, there is an extra parcel included in the sale 21-2-19-401-037, it is a gravel lot for extra parking, or further development opportunity, located directly across the street on the opposite corner lot, with a seperate address of 1400 Madison Ave. Feel free to contact the listing agent for further details.
Location
State IL
County Madison
Interior
Heating Forced Air,Hot Water
Cooling Central Air
Exterior
View Y/N No
Building
Structure Type Brick
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard