$2,200,000

603 N Prospect St Cambridge, IL 61238

Estimated payment $12,923/month

Total Views 4,482
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 40 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.

Listing Agent

Lori Bonarek

Lori Bonarek Realty License #471022278 Listed on: 06/16/2025

Co-Listing Agent

Jennifer Phillips

Lori Bonarek Realty License #471022413

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,505

Lot Details

  • 1.06 Acre Lot
  • Lot Dimensions are 152 x 304
  • Additional Parcels

Home Design

  • Pitched Roof
  • Composition Roof

Interior Spaces

  • 1-Story Property
  • Exterior Basement Entry

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Community Details

  • Senior Community
  • 40 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,505

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Exterior Entrance,Senior
  • Stories: 1
  • Built Before 1978 (Y/N): No
  • Information: 48-Hr Notice Required
  • Estimated Age: 36-50 Years
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Room: 4
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Vinyl Siding
  • Frontage Type: City Street
  • List Price: 2200000
  • Roof: Composition
  • Roof Structure: Pitched

Utilities

  • Heat/Ventilation: Forced Air,Gas

Condo/Co-op/Association

  • Unincorporated (Y/N): No
  • Owners Association (Y/N): No

Fee Information

  • Janitor Expense: 0

Lot Info

  • Additional Parcels: Yes
  • Lot Size Acres: 1.06
  • Lot Dimensions: 152 X 304
  • Lot Size Sq Ft: 46174
  • Zoning: MULTI
  • Land Amenities: Sidewalks

Rental Info

  • Board Number: 10
  • Tenancy Type: Leases

Multi Family

  • NumberOfUnitsTotal: 40
  • Type Multi-Family: Corridor-Exterior Entrance,Senior

Tax Info

  • Tax Annual Amount: 11505.48
  • Tax Year: 2024

Map

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
06/16/2025 06/16/25 For Sale $2,200,000 0.0% --
02/10/2025 02/10/25 For Rent $300 -- --
Source: Midwest Real Estate Data (MRED)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12393172

Midwest Real Estate Data (MRED)