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Listed by Nicholas Hansenof Home One Realty
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Est. payment /mo
1.9 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12796006
Year Built 1978
Annual Tax Amount $23,030
Tax Year 2025
Lot Size 1.900 Acres
Property Sub-Type Multi Family 5+
Property Description
RARE 16-UNIT VALUE-ADD ON 1.90 ACRES Built in 1978 as an assisted living residence and later operated as Doll Memorial Apartments, this single-story, 12,545 sq ft building offers something few small-town investments can: purpose-built construction, an efficient layout and real room to grow. The unit mix is simple and highly rentable. There are 8 studios (approx. 529 sq ft) and 8 two-bedroom apartments (approx. 634 sq ft), each with its own bathroom. The single-level design means no stairs, easy access to every unit and straightforward maintenance and turnovers. Ten units are currently vacant, and most are already in rentable condition, giving the next owner a clear path to lease-up through light work rather than major renovation. All of this sits on a generous 1.90-acre lot on the south side of Lena, near IL Route 73 and a short drive from Freeport. It's an outstanding opportunity for the investor ready to fill units, add value and build long-term equity. Buyer to verify all information.
Location
State IL
County Stephenson
Zoning MULTI
Interior
Cooling Wall Sleeve
Fireplace N
Exterior
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Joanna Lewkowicz
Designated Managing Broker | Owner Illinois: 471.018027Indiana: RB18001061Florida: BK3514240
+1(708) 963-0011 | joanna@boutiquehomerealty.com