603 N Prospect St Cambridge, IL 61238
Estimated payment $12,756/month
About This Home
This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 509 10th Avenue, Orion. Together, the properties offer a total of 41 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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $21,294
Lot Details
- 1.06 Acre Lot
- Lot Dimensions are 152 x 304
- Additional Parcels
Home Design
- Pitched Roof
- Composition Roof
- Vinyl Siding
Interior Spaces
- 1-Story Property
- Exterior Basement Entry
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Community Details
- Active Adult
- 41 Units
Map
Tax 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.
| 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 |
|---|---|---|---|---|
| 2025 | $1,075 | $225,074 | $60,000 | $165,074 |
| 2024 | $1,171 | $178,462 | $60,000 | $118,462 |
| 2023 | $1,085 | $198,275 | $60,000 | $138,275 |
| 2022 | $1,085 | $124,919 | $19,050 | $105,869 |
| 2021 | $1,086 | $124,919 | $19,050 | $105,869 |
| 2020 | $840 | $103,106 | $19,050 | $84,056 |
| 2019 | $1,012 | $101,783 | $15,240 | $86,543 |
| 2018 | $1,028 | $90,246 | $15,120 | $75,126 |
| 2017 | $1,020 | $90,246 | $15,120 | $75,126 |
| 2016 | $1,983 | $90,246 | $15,120 | $75,126 |
| 2015 | $1,022 | $0 | $0 | $0 |
| 2012 | -- | $93,230 | $15,120 | $78,110 |
Property 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 | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/19/2026 01/19/26 | Price Changed | $1,999,999 | -9.1% | -- |
| 06/16/2025 06/16/25 | For Sale | $2,200,000 | -- | -- |
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 |
|---|---|---|---|
| Quit Claim Deed | -- | None Listed On Document | |
| Warranty Deed | $1,500,000 | Attorney |
Mortgage 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 | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $750,000 | New Conventional | |
| Closed | $600,000 | New Conventional | |
| Previous Owner | $1,200,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $1,085,000 | Commercial | |
| Previous Owner | $635,000 | Future Advance Clause Open End Mortgage |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12393172
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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