Contact us: 563.441.1776
Description
Excellent multi family investment in this 24-unit, fully leased complex in Galesburg, Illinois. Competitively priced at $50,000/unit, each of the six buildings has 4 units with 12 two bedroom and 12 three bedroom (some with 1.5 bathrooms) units averaging 1,100 SF. Each unit is allocated at least 2 parking spots with carports available for most units. There is a 2 stall garage on site for maintenance and/or owner use. These desirable units provide space for tenants of all types - professionals, families and those working from home needing dedicated office spaces. Roofs, ACs, and heat pumps were all updated within the past 5 years. Units have been renovated with flooring, cabinetry, windows and bathroom remodels as they've been turned. Tenants pay electric and owners pay water/sewer/garbage. Rent roll, expenses, photos of additional units and a video walkthrough of units are available on request.
Property Highlights
Property Type: Commercial - Business
Building Description: 2.0 stories
Available Sqft: 28706
Year Built: 1971
Lot Size: 1.73 acres
General Information
County: Knox
Listed By:
RE/MAX Traders Unlimited
Mobile: 309-323-0399
RMLSA
MLS ID: PA1270916
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65 Locust Street, Unit KNOX, Galesburg, IL 61401.
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563-441-1862
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| Loan Type | FHA 30 Year Fixed | VA 30 year fixed | 30 yr Jumbo |
| Purchase Price | $1,200,000 | $1,200,000 | $1,200,000 |
| Down Payment | $42,000 | $0 | $240,000 |
| Monthly Mortgage Amount | $7,938 | $8,466 | $6,549 |
| Taxes | $1670 | $1670 | $1670 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $721 | $0 | $0 |
| Monthly Estimated Total | $10,679 | $10,486 | $8,569 |
About this area
About Galesburg
Galesburg, IL—home of the Railroad Days Festival and known for its rich American history—is a leisurely town with a population of about 29,000 (2024). The town integrates the celebration of its history into its future with its family-friendly festivals and historical gatherings. Events like the annual Railroad Days show reverence for the community’s past and a dedication to its continued vibrance. Many of the buildings in Galesburg are both on the historic registry and are currently in use. Galesburg has a thriving downtown area with unique restaurants and plenty of historic places to visit. The town also has cultivated a vibrant arts scene resulting in a bustling downtown.
If you are ready to start your home buying or selling journey, browse the latest real estate listings in Galesburg, IL. You can also contact us—we are here to help!
Nearest Ruhl & Ruhl Office: Burlington, IA
403 South Gear Avenue
Suite 105
West Burlington, IA 52655
(563) 441-1776
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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