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248-252 N Park Street

Decatur, IL 62523
  • $675,000
  • STATUS: Active
  • ON SITE: 139 Days
  • MLS #: 6246082
Price Reduced
UPDATED: 57 min ago
$675,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1890
County:
Area:

School Ratings & Info

Description

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.

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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: 2025-02-19T13:27:45.247.
www.mainplace.us/homes/156221925
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248-252 N Park Street Decatur, IL 62523

  • Price: $675,000
  • Status: Active
  • On Site: 139 Days
  • Updated: 57 min ago
  • MLS #: 6246082
0
Beds
0
Baths
0
½ Baths
0.04
Acres
1890
Built
Neighborhood:
Decatur
County:
Macon
Area:
Decatur
Property Description
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.
Exterior Features

Levels Two Parking Total 15 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

Lease Considered YN Yes Owner Pays None Possession Closing Property Sub Type Retail Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 11711.32 Tax Legal Description NORTH DECATUR ADD N / K / A ALLEN MCREYNOLDS & CO W1 /2 LT 4 TIF 04 BK3453 /874 21.62 X90 Tax Year 2023 Water Source Public Zoning B-4

Listing information © 2025 Central Illinois Board of Realtors MLS.
Listing provided courtesy of Zane Peterson of Main Place Real Estate: 217-422-3335.


© 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: 2025-02-19T13:27:45.247.
 
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Main Place Real Estate
101 S Main Street, Suite 700
Decatur IL, 62523