$395,000

540 W Main St Decatur, IL 62522

Millikin Home Neighborhood

Estimated payment $2,921/month

Total Views 4,287
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

The Garden Apartment building is a 9 unit low-rise multifamily property. Mid-century design with all brick and steel construction. Nice sized units (6 two bedroom units & 3 one bedrooms). All units on separate electric meters. Shared coin operated washer/dry in basement. 6 covered parking spaces with additional ample street parking. All units have been refurbished with new flooring, paint, fixtures, and appliances. Only blocks away from Downtown Decatur to the East and Millikin University to the West. Capital improvements in the last 10 years included new boiler, furnace, water heater, and all new appliances. Stabilized third-party property management is in place. A profitable opportunity awaits for the right investor! Contact investment broker for all inquiries.

Listing Agent

Zane Peterson

Main Place Real Estate License #471020044 Listed on: 05/05/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,655

Year Built

  • Built in 1961

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Hot Water Heating System
  • Gas Water Heater

Additional Features

  • 2-Story Property
  • 9,750 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number 04-12-15-254-015

Community Details

Overview

  • 9 Units
  • Western Add Subdivision

Building Details

  • Operating Expense $36,366

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,655

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Lot Size Acres: 0.22
  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Building Stories: 2
  • Subdivision Name: Western Add
  • Year Built: 1961
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: Two
  • Property Sub Type Additional: Multi Family
  • Special Features: None
  • Stories: 2

Interior Features

  • Appliances: Gas Water Heater
  • Owner Pays: None
  • Stories: 2
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Roof: Other
  • Waterfront: No

Utilities

  • Cooling: Wall Unit(s)
  • Heating: Hot Water
  • Water Source: Public
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Sewer: Public Sewer

Schools

  • Junior High Dist: Decatur Dist 61

Lot Info

  • Lot Size Sq Ft: 9750.0
  • Parcel #: 04-12-15-254-015
  • Zoning: R-6
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 9
  • Annual Operating Expense: 36366.1

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 8655.0

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/05/2025 05/05/25 For Sale $395,000 +28.7% --
01/15/2021 01/15/21 Sold $307,000 -18.1% $31 / Sq Ft
10/27/2020 10/27/20 Pending -- -- --
04/28/2020 04/28/20 For Sale $375,000 +98.4% $38 / Sq Ft
08/31/2016 08/31/16 Sold $189,000 -5.0% $19 / Sq Ft
08/01/2016 08/01/16 Pending -- -- --
05/02/2016 05/02/16 For Sale $199,000 -- $20 / Sq Ft
Source: Central Illinois Board of REALTORS®

Source: Central Illinois Board of REALTORS®

MLS Number: 6251881

Illinois Macon County Decatur 62522 Millikin Home

540 W Main St, Decatur, IL

This home is located at 540 W Main St, Decatur, IL 62522 and is currently priced at $395,000. This property was built in 1961. 540 W Main St is a home located in Macon County with nearby schools including Dennis Lab School, St. Patrick School, and Teen Challenge-Home For Girls.

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Zane Peterson
Listing Agent
Zane Peterson
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Main Place Real Estate
(217) 858-4115