248-252 N Park Street, Decatur, IL
$695,000
Active
0.04 Acres
About 248-252 N Park Street
A unique mix-used investment package in the heart of Downtown Decatur is now available! Three continuous buildings overlooking the beautiful Central Park. In total, this property features three street-level commercial spaces, two spacious apartments, and an additional two floors of untapped, raw multifamily development potential. Currently, two of the three commercial spaces are occupied, with lease renewal terms commencing January 2025. The third retail space, formerly a Subway, is ready for a new tenant with modern finishings and restaurant grade infrastructure in place. The residential portion includes two 2-bedroom, 1-bathroom apartments. Both units offer stunning views of Central Park, adding to their demand and appeal for the rental professional. This property presents an incredible opportunity to expand your investment portfolio while securing real estate in a prime downtown location. Incentives available - property is situated in the the newly adopted Downtown TIF District.
Facts & Features
| MLS® # | 6246082 |
|---|---|
| Price | $695,000 |
| Bathrooms | 0.00 |
| Acres | 0.04 |
| Year Built | 1890 |
| Type | Commercial |
| Sub-Type | Retail |
| Status | Active |
| Taxes | $11,711 |
| Tax Year | 2023 |
Community Information
| Address | 248-252 N Park Street |
|---|---|
| Subdivision | North Decatur Add |
| City | Decatur |
| County | Macon |
| State | IL |
| Zip Code | 62523 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Appliances | Electric Water Heater |
|---|---|
| Heating | Electric |
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Additional Information
| Date Listed | October 2nd, 2024 |
|---|---|
| Days on Market | 115 |
| Zoning | B-4 |
Listing Details
| Agent | Zane Peterson |
|---|---|
| Office | Main Place Real Estate |