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    506 E Chestnut St Bloomington, IL 61701

    For Sale
    $174,900

    Residential Income, Traditional - Bloomington, IL

    Lot size:
    0.18 Acres
    Days on Market:
    24
    Last Refresh:
    Dec 13 at 2:06 pm

    Property Features for 506 E Chestnut St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    APN
    2104229019
    Parking
    4
    Lot size
    0.18 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1915
    Roof type
    Asphalt
    Architectural style
    New Traditional

    Keller Williams Bloomington (309) 834-3400 [email protected]

    Listing agent Erin Burns (309) 834-3400 License #475179695

    Listing date Nov 20, 2025

    MLS# 12513210 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Bloomington Two-Unit Income Property

    This two-unit property in Bloomington, IL, presents a smart investment opportunity in a desirable neighborhood. The property has been refreshed with new exterior paint and some interior touch-ups. The main floor unit features 2 bedrooms and 1 bath and is ready for occupancy, suitable for an owner-occupant or new tenants. The upper unit includes 3 bedrooms and 1 bath and is currently leased through May 2026, providing immediate income. Each unit has separate mechanicals. Tenants share laundry facilities located in the basement. A detached garage offers additional income potential through separate leasing. The property is situated on a 0.18-acre lot. This residential income property is zoned MULTI and is being sold as presented.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.9864332
    Latitude
    40.4860616

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    FAQs

    What type of property is this?
    Duplex - Refreshed two-unit property with immediate income potential in Bloomington.
    Where is this duplex located?
    The property is located at 506 E Chestnut St Bloomington, IL.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: - Immediate income from upper unit leased through May 2026.; - Main floor unit is move-in ready, suitable for owner-occupancy or new tenants.; - Two-unit property offers investment and owner-occupancy potential.
    (309) 834-3400
    Request Owner's contact information
    506 E Chestnut St Bloomington, IL 61701
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    Bloomington, IL 61701
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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
    506 E Chestnut St Bloomington, IL 61701
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