506 E Chestnut St Bloomington, IL 61701
Northwest NeighborhoodEstimated payment $1,154/month
About This Home
Smart investment opportunity in a great neighborhood! This two-unit property has been refreshed for market with brand new exterior paint and some touch ups, and is fully occupied for immediate rental income! The main floor unit offers 2 bedrooms and 1 bath and is leased through December 2026. The upper unit features 3 bedrooms and 1 bath and is currently leased through May 2026. Each unit has separate mechanicals, and tenants share convenient laundry facilities in the basement. A detached garage adds additional income potential with the option to lease separately. Whether you're starting or expanding your investment portfolio, this one checks all the right boxes! 24-hour notice required for all showings. Property sold as presented.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,895
Year Built
- Built in 1915
Lot Details
- 7,841 Sq Ft Lot
- Lot Dimensions are 50 x 155
Parking
- 1 Car Garage
- Off-Street Parking
Home Design
- Traditional Architecture
- Asphalt Roof
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Potential Bedrooms
- 2 Bathrooms
Schools
- Bent Elementary School
- Bloomington Jr High Middle School
- Bloomington High School
Additional Features
- Partial Basement
- Heating System Uses Natural Gas
Community Details
- 2 Units
Map
Home Values in the Area
Average Home Value in this Area
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 | $2,625 | $35,707 | $6,965 | $28,742 |
| 2022 | $2,625 | $30,891 | $6,026 | $24,865 |
| 2021 | $2,403 | $28,278 | $5,516 | $22,762 |
| 2020 | $2,397 | $28,278 | $5,516 | $22,762 |
| 2019 | $2,390 | $28,278 | $5,516 | $22,762 |
| 2018 | $2,380 | $28,278 | $5,516 | $22,762 |
| 2017 | $2,381 | $28,278 | $5,516 | $22,762 |
| 2016 | $2,377 | $28,278 | $5,516 | $22,762 |
| 2015 | $2,370 | $28,278 | $5,516 | $22,762 |
| 2014 | $2,295 | $28,278 | $5,516 | $22,762 |
| 2013 | -- | $28,278 | $5,516 | $22,762 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/05/2026 01/05/26 | Price Changed | $930 | +0.5% | $1 / Sq Ft |
| 12/23/2025 12/23/25 | Price Changed | $925 | +0.5% | $1 / Sq Ft |
| 12/10/2025 12/10/25 | Price Changed | $920 | +0.5% | $1 / Sq Ft |
| 11/24/2025 11/24/25 | Price Changed | $915 | -0.5% | $1 / Sq Ft |
| 11/10/2025 11/10/25 | Price Changed | $920 | 0.0% | $1 / Sq Ft |
| 11/07/2025 11/07/25 | For Sale | $174,900 | 0.0% | -- |
| 10/27/2025 10/27/25 | Price Changed | $925 | -0.5% | $1 / Sq Ft |
| 10/13/2025 10/13/25 | Price Changed | $930 | -0.5% | $1 / Sq Ft |
| 10/02/2025 10/02/25 | Price Changed | $935 | +0.5% | $1 / Sq Ft |
| 09/18/2025 09/18/25 | Price Changed | $930 | +0.5% | $1 / Sq Ft |
| 09/04/2025 09/04/25 | Price Changed | $925 | +0.5% | $1 / Sq Ft |
| 08/21/2025 08/21/25 | Price Changed | $920 | +0.5% | $1 / Sq Ft |
| 08/07/2025 08/07/25 | Price Changed | $915 | +0.5% | $1 / Sq Ft |
| 07/24/2025 07/24/25 | Price Changed | $910 | +0.6% | $1 / Sq Ft |
| 07/10/2025 07/10/25 | Price Changed | $905 | +0.6% | $1 / Sq Ft |
| 06/26/2025 06/26/25 | Price Changed | $900 | +0.6% | $1 / Sq Ft |
| 06/12/2025 06/12/25 | Price Changed | $895 | +0.6% | $1 / Sq Ft |
| 05/29/2025 05/29/25 | Price Changed | $890 | +0.6% | $1 / Sq Ft |
| 05/15/2025 05/15/25 | Price Changed | $885 | +0.6% | $1 / Sq Ft |
| 05/02/2025 05/02/25 | Price Changed | $880 | -1.1% | $1 / Sq Ft |
| 04/18/2025 04/18/25 | Price Changed | $890 | +0.6% | $1 / Sq Ft |
| 04/04/2025 04/04/25 | Price Changed | $885 | +0.6% | $1 / Sq Ft |
| 03/21/2025 03/21/25 | Price Changed | $880 | +0.6% | $1 / Sq Ft |
| 03/07/2025 03/07/25 | Price Changed | $875 | +0.6% | $1 / Sq Ft |
| 02/21/2025 02/21/25 | Price Changed | $870 | +0.6% | $1 / Sq Ft |
| 02/10/2025 02/10/25 | Off Market | -- | -- | -- |
| 02/08/2025 02/08/25 | Price Changed | $865 | +0.6% | $1 / Sq Ft |
| 01/25/2025 01/25/25 | For Rent | $860 | 0.0% | -- |
| 01/25/2025 01/25/25 | Price Changed | $860 | +0.6% | $1 / Sq Ft |
| 01/11/2025 01/11/25 | For Rent | -- | -- | -- |
| 01/11/2025 01/11/25 | Price Changed | $855 | +0.6% | $1 / Sq Ft |
| 12/29/2024 12/29/24 | For Rent | $850 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $122,500 | None Listed On Document | |
| Warranty Deed | $103,500 | Frontier Title Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $82,800 | Adjustable Rate Mortgage/ARM |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12513210
APN: 21-04-229-019
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