275 Prairie Ave Manhattan, IL 60442
Manhattan AreaEstimated payment $4,801/month
About This Home
*** Brand NEW roof installed July 2026. All units updated too. Rarely does an opportunity like this hit the market in the heart of rapidly growing Manhattan - a solid brick, fully occupied 4-unit investment property perfectly positioned in one of Will County's most desirable suburban communities known for its top-rated schools, strong household incomes, commuter convenience, and small-town charm. This well-maintained two-story building offers an ideal unit mix with three spacious 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with most interiors thoughtfully updated and improved within the last three years to appeal to today's tenants. Investors will appreciate the simplified management structure with all-electric appliances, electric heat, and separate electric hot water heaters, along with updated windows within the last 11 years and a renovated common laundry area that adds additional tenant convenience and long-term value. The property also features abundant rear parking plus additional front parking, a major advantage for tenants seeking suburban ease and functionality. Located on a quiet residential street just moments from downtown Manhattan, local restaurants, shopping, transportation, parks, and highly regarded school districts. This property checks every box for investors seeking stable occupancy, long-term appreciation potential, and consistent suburban rental demand. Manhattan continues to attract families, commuters, and professionals looking for a quieter lifestyle with access to Chicago via Metra while enjoying the benefits of a high homeownership community with continued residential growth and limited multifamily inventory. Opportunities to acquire turnkey, income-producing brick multifamily assets in locations like this are becoming increasingly difficult to find, making this an exceptional addition for seasoned investors, 1031 exchange buyers, or those looking to break into multifamily ownership with a low-maintenance, high-demand suburban asset positioned for long-term success. The building next door at 265 is also being sold. Double your investment(s)
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,031
Year Built
- Built in 1969
Home Design
- Brick Exterior Construction
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Potential Bedrooms
- 4 Bathrooms
Parking
- 7 Parking Spaces
- Parking Available
- Unassigned Parking
Additional Features
- 2-Story Property
- Lot Dimensions are 60x150
- Heating Available
Community Details
- 4 Units
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $16,031 | $163,750 | $28,750 | $135,000 |
| 2024 | $16,031 | $160,000 | $25,000 | $135,000 |
| 2023 | $15,914 | $160,000 | $25,000 | $135,000 |
| 2022 | $10,190 | $110,200 | $21,200 | $89,000 |
| 2021 | $10,217 | $110,200 | $21,200 | $89,000 |
| 2020 | $10,244 | $110,200 | $21,200 | $89,000 |
| 2019 | $10,217 | $110,200 | $21,200 | $89,000 |
| 2018 | $9,155 | $100,200 | $21,200 | $79,000 |
| 2017 | $9,200 | $100,200 | $21,200 | $79,000 |
| 2016 | $9,767 | $100,200 | $21,200 | $79,000 |
| 2015 | $9,351 | $100,200 | $21,200 | $79,000 |
| 2014 | $9,351 | $100,200 | $21,200 | $79,000 |
| 2013 | $9,351 | $100,200 | $21,200 | $79,000 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/20/2026 07/20/26 | For Sale | $645,000 | 0.0% | -- |
| 06/09/2026 06/09/26 | Off Market | $645,000 | -- | -- |
| 05/13/2026 05/13/26 | For Sale | $645,000 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $375,000 | None Listed On Document |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12647590
APN: 14-12-17-406-026
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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. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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Ask me questions while you tour the home.