400 N Main St Princeton, IL 61356
Princeton AreaEstimated payment $2,487/month
About This Home
This well-maintained 12-unit mixed-use property presents a compelling opportunity for investors seeking immediate cash flow with additional upside potential. The asset is comprised of three residential units (two spacious two-bedroom apartments and one efficiently designed studio), alongside nine commercial spaces fronts that provide diversified income streams. Over the past several years, the building has undergone significant renovations, resulting in a turnkey investment requiring no immediate capital improvements. All units are in strong condition, allowing a new owner to step in and begin generating revenue from day one. In addition to its current income, the property features a partially finished lower level, offering clear value-add potential. Investors may explore opportunities to further develop this space into additional residential or commercial units, subject to local zoning and approvals, thereby increasing overall returns. With a balanced unit mix, recent upgrades, and future expansion potential, this property is ideally positioned for both stable cash flow and long-term appreciation.
Listing Agent
Landmark Realty of Illinois LLC License #471004781 Listed on: 05/12/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,201
Year Built
- Built in 1947
Home Design
- Vinyl Siding
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Potential Bedrooms
- 5 Bathrooms
Parking
- 12 Parking Spaces
- Parking Available
- Parking Lot
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
Additional Features
- Basement Fills Entire Space Under The House
- Lot Dimensions are 120 x 130
Community Details
Overview
- 3 Units
Building Details
- Gross Income $83,400
- Net Operating Income $69,205
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 | $2,201 | $27,985 | $12,259 | $15,726 |
| 2024 | $2,063 | $26,206 | $11,480 | $14,726 |
| 2023 | $2,063 | $24,135 | $10,573 | $13,562 |
| 2022 | $1,950 | $22,628 | $9,913 | $12,715 |
| 2021 | $1,907 | $21,420 | $9,384 | $12,036 |
| 2020 | $1,847 | $20,635 | $9,040 | $11,595 |
| 2019 | $1,854 | $20,388 | $8,932 | $11,456 |
| 2018 | $1,820 | $20,039 | $8,779 | $11,260 |
| 2017 | $1,851 | $20,112 | $8,811 | $11,301 |
| 2016 | $1,806 | $19,587 | $8,581 | $11,006 |
| 2015 | -- | $19,245 | $8,431 | $10,814 |
| 2014 | -- | $19,245 | $8,431 | $10,814 |
| 2013 | -- | $19,350 | $8,477 | $10,873 |
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 |
|---|---|---|---|---|
| 07/06/2026 07/06/26 | Price Changed | $420,000 | -4.5% | -- |
| 05/12/2026 05/12/26 | For Sale | $440,000 | -- | -- |
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 |
|---|---|---|---|
| Quit Claim Deed | -- | None Listed On Document | |
| Deed | -- | None Listed On Document | |
| Joint Tenancy Deed | $285,000 | None Available | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $30,000 | None Available | |
| Executors Deed | $30,000 | None Available | |
| Quit Claim Deed | -- | None Available |
Mortgage 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 | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $67,500 | New Conventional | |
| Previous Owner | $15,000 | New Conventional | |
| Previous Owner | $112,500 | New Conventional | |
| Previous Owner | $300,000 | Future Advance Clause Open End Mortgage |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12646206
APN: 16-09-364-010
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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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