Posted on 10/06/2019
Online Only Auction
$87,500 MINIMUM BID
6,500±SF 6 Unit Apartment Building
615 W Prairie Ave Decatur, IL 62522 (Macon County)
Bidding Opens: Monday, October 7 at 11:00 AM CT
Bid Deadline: Thursday, October 17 at 11:00 AM CT
Inspection: Monday, October 14 at 12 Noon CT SHARP
Sale Manager: Mark Rosenberg 309-688-6888 or email@example.com
Built in 1961, the asset consists of a 3 story building demised into 6 apartments on a 150’± deep lot with 42.5’ of street frontage on West Prairie. The back of the lot accommodates paved parking for 6 cars (one per unit) accessed off S Monroe Street through an alley at the rear.
Each floor of the 34’ x 64’± building is divided into two apartments accessed through an interior vestibule with stairwell. Each apartment is approximately 970 square feet and all are separately metered for gas and electric, with gas forced air furnaces and central air. There is a full below grade basement with storage, laundry facilities, and mechanical systems. Each unit has 60 amp electrical service, and there is also a 60 amp house meter for common lighting and basement service and 3 phase 400 amp service for the building. The roof is of flat membrane construction and is about 14 years old. It was partially resurfaced on 8/17/2019.
The units rent for between $530 and $580 per month. Rent roll and leases are available for download in Documents. Owner receives income from the laundry facilities and is responsible for water, trash service and common electricity. All leases specify no pets.
The property is known as Macon County Tax Parcel 04-12-15-179-018. 2019 taxes have been paid in the amount of $2,762.80.
The building is located about 3 blocks west of downtown Decatur and Millikin University in the Near West Historic District, a neighborhood of mixed single family residential and apartments. The neighborhood is zoned R-3, and is well outside any flood hazard area.
Mark Rosenberg, Oakwood Real Estate, IL RE Broker Lic #471.012524