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1348 Madison Ave Madison, IL 62060

For Sale
$226,000

Residential Income - Madison, IL

Property size:
4,608 SF
Lot size:
0.29 Acres
Days on Market:
45
Last Refresh:
Dec 14 at 10:06 pm

Property Features for 1348 Madison Ave

General Information

Property type
Residential Multi Family
Property subtype
Other
Standard status
Active
Rooms
Basement
APN
21-2-19-24-19-402-008
Basement Y/N
1
Size
4,608 SF
Lot size
0.29 Acres

Utilities

Heating system
Forced Air, Hot Water (Heating)
Cooling system
Central Air

Building Details

Year built
1940
Number of units
3
Building materials
Brick
Architectural style
Other

Landmark Realty Godfrey (618) 466-1513 [email protected]

Listing agent Devin Outman (618) 466-1513 License #475183933

Listing date Oct 31, 2025

MLS# 25073689 Listing URL

Copyright © 2025 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Overview

Mixed-Use Property with Income Potential

This mixed-use property in Madison, IL, presents an opportunity to generate income through a variety of methods. The property includes a fully operational bar and grill on the main floor, currently tenant-occupied and generating $1,500 per month. The sale includes all kitchen equipment, such as a commercial stove top, fryers, prep coolers, a range hood, a walk-in refrigeration system, and beer coolers. Upstairs, there are two residential apartments. One unit is a 2-bedroom, 1-bath apartment, currently rented for $900 per month. The vacant unit is a spacious 1-bedroom, 1-bath apartment and comes fully furnished. When previously occupied, this unit generated between $750 and $850 per month. The roof was replaced with architectural shingles in 2023. The commercial tenant is responsible for all utilities for the building, as there is one electric, gas, and water meter. The property also includes an additional parcel, a gravel lot located directly across the street at 1400 Madison Ave, offering extra parking or further development opportunities. The property size is 4,608 square feet and the lot size is 0.2927 acres.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Bars

Suggested Use

Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Madison
County
Madison
State
Illinois
Longitude
-90.1545
Latitude
38.691612

FAQs

What type of property is this?
Mixed-use property - Mixed-use property featuring a bar, apartments, and development opportunity.
Where is this mixed-use property located?
The property is located at 1348 Madison Ave Madison, IL.
What is the asking price?
The asking price for this property is $226,000.
What are key features of this property?
This property features: - Mixed-use property with existing cash flow; - Fully operational bar and grill with all kitchen equipment; - Additional parcel included: gravel lot for parking or development
More about this property
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