$250,000
SOLD MAY 29, 2025

520 Main St Pecatonica, IL 61063

-- Bed
-- Bath
-- Sq Ft
1915 Built

Recently Sold

37% Below List Price

39 Days on Market

About This Home

As of May 2025

Prime Mixed-Use Investment Opportunity in Pecatonica, IL - This 7-unit property at 520 Main St features two vacant storefronts and five apartments, with only one apartment empty for showing. (three 2-bed/1-bath units, one 1-bed/1-bath unit, and one 3-bed/1-bath unit). The current rent roll is under 3k per month currently with vacancies and low rents in place, with significant upside potential - fully leased and at market rents, the property can generate 6k/month. Both storefronts can be rented for 700-900 each, adding substantial income. The apartment units are leased under market and could all be raised as well. All leases are month to month so rents could be easily raised with a 30 day notice. In the past year, there has also been a brand new furnace and water heater put in. The building is entirely separately metered, keeping expenses low and operations efficient. Priced at 400k, with the upside, this is a fantastic value-add opportunity with strong cash flow potential in a historic community.

Last Agent to Sell the Property

Mohammad Fatani

Realty One Group Excel License #475202050 Listed on: 03/21/2025

Realty One Group Excel

Last Buyer's Agent

Rebecca Hazzard

RE/MAX of Rock Valley License #471019445

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,309

Year Built

  • Built in 1915

Additional Features

  • 2-Story Property
  • Central Heating

Community Details

  • 7 Units
  • Gross Income $3,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,309

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 2
  • Year Built: 1915
  • Built Before 1978 (Y/N): Yes
  • Information: Short Notice OK
  • Estimated Age: Older
  • Actual Status: Closed
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Room: 0

Utilities

  • Heat/Ventilation: Central Heat/Indiv Controls

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 0

Rental Info

  • Board Number: 5

Multi Family

  • GrossIncome: 3000
  • NumberOfUnitsTotal: 7
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 5309
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 21, 2025
Closed on
May 29, 2025
Sold by
Simba Rentals Llc
Bought by
Melancen Matthew D and Melancen Margaret S
Seller's Agent
Mohammad Fatani
Realty One Group Excel
Buyer's Agent
Rebecca Hazzard
RE/MAX of Rock Valley
List Price
$399,990
Sold Price
$250,000
Premium/Discount to List
-$149,990
-37.5%
Views
44
Current Estimated Value
$258,426

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$8,426
Avg. Annual Appreciation
5.15%
Original Mortgage
$175,000
Outstanding Balance
$174,552
Interest Rate
6.83%
Mortgage Type
New Conventional
Estimated Equity
$83,874

Purchase Details

Closed on
Jan 26, 2024
Sold by
Lhc Properties Llc
Bought by
Simba Rentals Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$156,000
Interest Rate
6.61%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 12, 2019
Sold by
Winn Investments Llc
Bought by
Lhc Properties Llc

Purchase Details

Closed on
Feb 14, 2019
Sold by
Edward Bryant and Edward Mary
Bought by
Winn Investments Llc

Purchase Details

Closed on
Mar 17, 2010
Bought by
Winn Investments Llc
Source: Public Records
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Purchase History

Date Type Sale Price Title Company
Warranty Deed $250,000 None Listed On Document
Warranty Deed $195,000 None Listed On Document
Quit Claim Deed -- None Listed On Document
Grant Deed -- --
Deed $175,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $175,000 New Conventional
Previous Owner $156,000 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/29/2025 05/29/25 Sold $250,000 -24.2% --
04/29/2025 04/29/25 Pending -- -- --
04/19/2025 04/19/25 Price Changed $329,990 -5.7% --
04/19/2025 04/19/25 Price Changed $349,990 -6.7% --
04/10/2025 04/10/25 Price Changed $374,990 -6.3% --
03/21/2025 03/21/25 For Sale $399,990 -- --
Source: Midwest Real Estate Data (MRED)

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 $5,460 $70,222 $6,014 $64,208
2023 $5,309 $64,112 $5,491 $58,621
2022 $5,180 $59,534 $5,099 $54,435
2021 $5,000 $55,980 $4,795 $51,185
2020 $4,928 $53,930 $4,619 $49,311
2019 $5,656 $51,303 $4,394 $46,909
2018 $5,612 $52,410 $4,264 $48,146
2017 $5,719 $51,352 $4,178 $47,174
2016 $5,479 $50,844 $4,137 $46,707
2015 $5,410 $50,336 $4,096 $46,240
2014 $5,239 $50,336 $4,096 $46,240
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12317390

Midwest Real Estate Data (MRED)

APN: 09-28-154-005