5
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Listed by Shannon Collinsof Green Street Realty
-
Est. payment /mo
3 Beds
0.28 Acres Lot
Active
109 W Madison ST Philo, IL 61864
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Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
Subdivision Orig Town Of Philo
MLS Listing ID 12775415
Style Farmhouse
Bedrooms 3
Year Built 1880
Annual Tax Amount $2,930
Tax Year 2025
Lot Size 0.280 Acres
Lot Dimensions 80X150
Property Sub-Type Two to Four Units
Property Description
Excellent investment opportunity in the heart of Philo! This income-producing property offers over 2,000 square feet and has been successfully operated as a duplex for many years. Currently configured as two 2-bedroom, 1-bath units, the home also offers the potential to be converted back into a single-family residence by reopening the interior staircase to the second floor. The upper unit, accessed by a private exterior staircase, features updated paint, an updated bathroom, and an updated kitchen area, while the spacious main-level unit is occupied by long-term tenants. A shared laundry area is located in the basement, and both residential leases extend through April 2027, providing immediate rental income. Additional income is generated by a detached 3-car garage and a separate 1-car garage, both currently leased as storage units. The property features an updated septic system with city water service, a roof replaced by the current owner, separately metered electric service, shared water and gas that are billed back to the tenants, a large welcoming front porch, rear tenant parking, and a common outdoor area perfect for relaxing or grilling. Being sold as is, this handyman special offers outstanding investment potential with multiple possibilities in a desirable small-town community.
Location
State IL
County Champaign
Rooms
Basement Unfinished, Partial
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
Garage Spaces 4.0
View Y/N true
Building
Sewer Septic Tank
Water Public
Structure Type Aluminum Siding
New Construction false
Schools
Elementary Schools Unity East Elementary School
Middle Schools Unity Junior High School
High Schools Unity High School
School District 7, 7, 7
Others
Ownership Fee Simple
Special Listing Condition None
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