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    502-516 Cedar St Shannon, IL 61078

    Sponsored
    For Sale
    Pending
    $675,000

    5+ Units - SHANNON, IL

    Days on Market:
    27
    Last Refresh:
    Jan 10 at 11:06 am

    Property Features for 502-516 Cedar St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    APN
    010619105006
    Parking
    8
    Patio and Porch features
    Deck
    Interior features
    Porch Covered
    Exterior features
    Deck
    Appliances
    Cooktop, Dishwasher, Garbage Disposer, Microwave, Refrigerator, Washer

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Roof type
    Shingle
    Architectural style
    Other

    Fawnridge Realty Inc. (815) 493-2829 [email protected]

    Listing agent THOMAS MILLER (815) 493-2829 License #471002496

    Listing date Dec 15, 2025

    MLS# 202507564 Listing URL

    Copyright © 2026 Rockford Area MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Shannon IL Multifamily Investment Opportunity

    This is an investment opportunity featuring four ranch-style duplex buildings, totaling eight units. Constructed in 2007, each single-story duplex contains two 2-bedroom units. Each unit includes its own private 1-stall garage. All units are equipped with appliances and main-floor laundry. The property has a strong rental history and has been consistently well cared for. The property offers functional layouts and easy maintenance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Wholesale Shop Bar & Pub Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Shannon
    County
    Carroll
    State
    Illinois
    Longitude
    -89.743623169312
    Latitude
    42.149267182611

    FAQs

    What type of property is this?
    Apartment building - Eight-unit multifamily property in Shannon, Illinois, with strong rental history.
    Where is this apartment building located?
    The property is located at 502-516 Cedar St Shannon, IL.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: - Turnkey investment property with eight units.; - Strong rental history and consistent care.; - Built in 2007, offering modern construction.
    (815) 493-2829
    Request Owner's contact information
    502-516 Cedar St Shannon, IL 61078
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    Shannon, IL 61078
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    502-516 Cedar St Shannon, IL 61078
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