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155 N Water Street

Decatur, IL 62523
  • $545,000
  • STATUS: Active
  • ON SITE: 3 Days
  • MLS #: 6251939
New On Site 3 Days Ago
UPDATED: 154 min ago
$545,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1976
County:
Area:

School Ratings & Info

Description

Positioned on one of the most prominent corners in downtown Decatur is a fully leased commercial property offering exceptional visibility and long-term value. The building has seen significant capital improvements, including a brand-new roof and HVAC system installed in 2023, ensuring modern infrastructure and operational efficiency. Over the past five years, three interior buildouts have been completed, reflecting ongoing investment and the property's adaptability to a range of professional and retail tenants. This turnkey asset stands at the center of downtown activity, surrounded by restaurants, offices, and public institutions, making it one of the most desirable corners in the city's urban core. With 100% occupancy and a proven history of maintenance and upgrades, 155 N Water Street presents an outstanding opportunity for investors seeking stable income in a high-visibility, walkable location.

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© 2025 Central Illinois Board of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Main Place Real Estate. Data last updated: 2025-05-13T00:27:43.293.
www.mainplace.us/homes/163559318
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155 N Water Street Decatur, IL 62523

  • Price: $545,000
  • Status: Active
  • On Site: 3 Days
  • Updated: 154 min ago
  • MLS #: 6251939
0
Beds
0
Baths
0
½ Baths
0.13
Acres
1976
Built
Neighborhood:
Decatur
County:
Macon
Area:
Decatur
Property Description
Positioned on one of the most prominent corners in downtown Decatur is a fully leased commercial property offering exceptional visibility and long-term value. The building has seen significant capital improvements, including a brand-new roof and HVAC system installed in 2023, ensuring modern infrastructure and operational efficiency. Over the past five years, three interior buildouts have been completed, reflecting ongoing investment and the property's adaptability to a range of professional and retail tenants. This turnkey asset stands at the center of downtown activity, surrounded by restaurants, offices, and public institutions, making it one of the most desirable corners in the city's urban core. With 100% occupancy and a proven history of maintenance and upgrades, 155 N Water Street presents an outstanding opportunity for investors seeking stable income in a high-visibility, walkable location.
Exterior Features

Levels One Parking Features On Site On Street Parking Total 15 Road Frontage Type City Street Waterfront YN No

Interior Features

Above Grade Finished Area 0 Appliances Electric Water Heater Cooling Central Air Cooling YN Yes Heating Electric Heating YN Yes

Property Features

Building Features Handicap Access Gross Scheduled Income 61500 Lease Considered YN Yes Net Operating Income 16476 Operating Expense 15023 Owner Pays None Possession Closing Property Sub Type Retail Security Features Security System Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 9692 Tax Legal Description RES OF LTS 1-2-3-4-8 BLK 2 OF ORIG TOWN OF DECATUR LTS 2 & 3 TIF 98 BK2817 /835 IRREG Tax Year 2023 Water Source Public Zoning MUN

Listing information © 2025 Central Illinois Board of Realtors MLS.
Listing provided courtesy of Cole Babcock of Vieweg RE/Better Homes & Gardens Real Estate-Service First: (217) 450-8500.


© 2025 Central Illinois Board of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Main Place Real Estate. Data last updated: 2025-05-13T00:27:43.293.
 
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Main Place Real Estate
101 S Main Street, Suite 700
Decatur IL, 62523