Subsidized Senior Housing
551-564 N Clarence Avenue Watseka, IL 60970
For Sale
$2,000,000
54-unit subsidized senior housing portfolio in Watseka and Gilman, Illinois.
Days on Market1913
Property Features for 551-564 N Clarence Avenue
General Information
- Standard status
- Active
- Property subtype
- General Commercial
Building Details
- Year Built
- 1990
Listing Agency:
McColly Bennett Real Estate
(815) 929-9381
Listed By:
Buck Tamblyn · License #475131086
(815) 549-4301
Source:
Xome
Added: Apr 29, 2021
Changed: Jul 10
Last Checked: Jul 16 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McColly Bennett Real Estate
Investment Insights
Based on property information with market context.
This portfolio includes 54 total units of subsidized senior housing, distributed across 27 two-unit buildings, plus an additional office/recreational building. The portfolio consists of 42 units located in Watseka and 12 units in Gilman. The unit mix features 48 one-bedroom units and 6 two-bedroom units. The properties are currently tied into Rural Development/USDA loans and subsidized via USDA/RD/HUD. Any potential buyer must be qualified to acquire USDA/RD properties to continue with the subsidy structured payments. The properties are reported to be in good condition. The out-of-state owners are looking to liquidate their Illinois assets. Financials are available to qualified buyers.
Key Highlights
- 54 total units of subsidized senior housing
- USDA/RD/HUD subsidies in place (buyer must qualify)
- Portfolio of 27 two‑unit buildings plus an office/recreational building
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 54-unit subsidized senior housing portfolio in Watseka and Gilman, Illinois.
Where is this apartment building located?
The property is located at 551-564 N Clarence Avenue Watseka, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 54 total units of subsidized senior housing; USDA/RD/HUD subsidies in place (buyer must qualify); Portfolio of 27 two‑unit buildings plus an office/recreational building
