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    550 Hanabarger St Lanark, IL 61046

    For Sale
    $119,900

    2 Units - LANARK, IL

    Days on Market:
    21
    Last Refresh:
    Dec 8 at 7:06 pm

    Property Features for 550 Hanabarger St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    061005315011
    Parking
    4
    Patio and Porch features
    Deck
    Exterior features
    Deck
    Appliances
    Cooktop, Dishwasher, Dryer, Microwave, Refrigerator, Washer

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Roof type
    Shingle
    Architectural style
    Other

    Barnes Realty, Inc (815) 493-2323 [email protected]

    Listing agent AIME HELDT (815) 864-2390 License #475140287

    Listing date Nov 18, 2025

    MLS# 202507177 Listing URL

    Copyright © 2025 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

    Clean Duplex with Conversion Potential

    This is a very clean and large duplex, resembling a townhouse. It presents the possibility of converting into a single-family home. The property is a raised ranch, with each side featuring its own garage, basement, and laundry facilities. Recent updates include new flooring, paint, some new light fixtures, and a rebuilt deck. The property is move-in ready or suitable for renting, with a history of good rental performance. The layout allows for the option of living in the larger unit and renting out the smaller unit to offset mortgage payments. The larger unit includes 2 bedrooms, 2 bathrooms, a 2-car garage, and 2 bonus rooms in the basement. The smaller unit offers 2 bedrooms, 1 bath, a 1-car garage, a bonus room in the basement, and a laundry area. The property is located in LANARK, IL.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lanark
    County
    Carroll
    State
    Illinois
    Longitude
    -89.838052
    Latitude
    42.097897

    FAQs

    What type of property is this?
    Duplex - Large, clean duplex, potential single-family conversion, good rental history.
    Where is this duplex located?
    The property is located at 550 Hanabarger St Lanark, IL.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: - Large duplex with townhouse feel, potential for single-family conversion; - Each unit has its own garage, basement, and laundry; - Move-in ready with new flooring, paint, and rebuilt deck
    (815) 864-2390
    Request Owner's contact information
    550 Hanabarger St Lanark, IL 61046
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    Lanark, IL 61046
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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
    550 Hanabarger St Lanark, IL 61046
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