$209,900
$3K PRICE DROP

501 SW 3rd St Aledo, IL 61231

Estimated payment $1,587/month

Total Views 15,007
-- Bed
-- Bath
3,420 Sq Ft
$61 Price per Sq Ft

About This Home

Check out this Fabulous Apartment Building! This well maintained building features 5 separate apartments and is located within walking distance to schools, parks, churches, the YMCA, Historical Downtown Aledo, Restaurants, Shopping, Movie Theater, and More! The front of the building was previously used as an office space, but has been converted into an efficiency apartment. The main level features 2 more apartments that each have 2 bedrooms. The 3 main level apartments are Handicap Accessible. The upper level offers 2 One bedroom apartments. This building has been well maintained and recently updated items include: siding, flooring, insulation, appliances, downspouts, heating & A/C units, and more! All 5 units are currently tenant occupied. The new owner would take over the leases and begin making residual income immediately!

Listing Agent

Starr Fell

eXp Realty License #471.017922/B64443000 Listed on: 10/24/2025

eXp Realty

Co-Listing Agent

Zach Frick

eXp Realty License #475.188866/S71645000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,424

Year Built

  • Built in 1954

Lot Details

  • Lot Dimensions are 96x60

Parking

  • 5 Parking Spaces

Home Design

  • Vinyl Siding

Interior Spaces

  • 3,420 Sq Ft Home
  • 2-Story Property

Utilities

  • Window Unit Cooling System
  • Separate Meters

Community Details

Overview

  • 5 Units

Building Details

  • Trash Expense $300
  • Water Sewer Expense $1,350
  • Operating Expense $4,850
  • Gross Income $28,980
  • Net Operating Income $18,706

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,424

Year Built

Built in 1954

Lot Details

5,663 Sq Ft Lot

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Other
  • Stories: 2
  • Year Built: 1954
  • Built Before 1978 (Y/N): Yes
  • Legal Description: LOT 8 BLK 82 WILLITS & THOMPSONS ADDN
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • Actual Status: Active
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 0
  • Dishwashers: 0
  • Refrigerators: 3
  • Ranges: 3
  • Number of Washers: 0

Exterior Features

  • Construction Materials: Vinyl Siding
  • Frontage Type: Paved

Garage/Parking

  • ParkingTotal: 5

Utilities

  • Cooling: Window Unit(s)
  • Electric: Separate Meters
  • Heat/Ventilation: Other

Fee Information

  • Trash Expense: 300
  • Water Sewer Expenses: 1350
  • Other Expenses $: 0

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 96x60
  • Property Offered: For Sale Only

Building Info

  • BuildingAreaTotal: 3420

Rental Info

  • Board Number: 30

Multi Family

  • Net Operating Income: 18706
  • GrossIncome: 28980
  • NumberOfUnitsTotal: 5
  • OperatingExpense: 4850
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 5423.64
  • Tax Year: 2024

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

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
2024 $5,424 $62,160 $4,605 $57,555
2023 $5,424 $56,565 $4,190 $52,375
2022 $4,874 $55,850 $4,135 $51,715
2021 $4,808 $50,490 $3,740 $46,750
2020 $4,839 $49,315 $2,295 $47,020
2019 $4,648 $46,655 $2,170 $44,485
2018 $4,491 $47,945 $2,230 $45,715
2017 $4,417 $45,360 $2,110 $43,250
2016 $4,158 $42,390 $1,970 $40,420
2015 $4,155 $42,860 $1,990 $40,870
2014 $4,187 $44,370 $2,060 $42,310
2013 $4,172 $44,370 $2,060 $42,310
2010 $4,234 $46,165 $2,145 $44,020
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/22/2026 05/22/26 Price Changed $209,900 0.0% $61 / Sq Ft
05/22/2026 05/22/26 For Sale $209,900 +10.8% $61 / Sq Ft
04/24/2026 04/24/26 Off Market $189,500 -- --
03/31/2026 03/31/26 Price Changed $189,500 -5.2% $55 / Sq Ft
03/02/2026 03/02/26 Price Changed $199,900 -2.5% $58 / Sq Ft
02/10/2026 02/10/26 Price Changed $205,000 -3.8% $60 / Sq Ft
10/24/2025 10/24/25 For Sale $213,000 -- $62 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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 $140,000 --
Source: Public Records

Source: Midwest Real Estate Data (MRED)

MLS Number: QC4268695

Midwest Real Estate Data (MRED)

APN: 10-10-17-356-017

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