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    551-564 Clarence Ave Watseka, IL 60970

    For Sale
    $2,000,000

    54 Units, 4.94 Acres, Excellent Condition

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    312
    This exceptional investment opportunity encompasses a portfolio of 54 subsidized senior housing units situated on a substantial 4.94-acre lot in Watseka and Gilman, Illinois. The property consists of 27 two-unit buildings, plus a dedicated office/recreational building, totaling 54 units. The unit breakdown includes 48 one-bedroom units and 6 two-bedroom units. All buildings are currently in good condition. This portfolio presents a unique chance to acquire a well-maintained, income-producing asset. The property is currently financed through Rural Development/USDA loans and benefits from subsidies provided by USDA/RD/HUD. It's crucial for prospective buyers to be pre-qualified to acquire USDA/RD properties and understand the implications of continuing with the existing subsidy structured payments. The current owners, based out of state, are motivated to liquidate their Illinois holdings, making this a compelling opportunity for a qualified investor seeking a stable, income-generating property in a strong market. Detailed financial information is available upon request to qualified buyers. This is a turnkey operation with significant potential for long-term growth and return on investment.

    Property Features for 551-564 Clarence Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    215,186 SF

    Building Details

    Year Built
    1990
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Watseka
    County
    Iroquois
    State
    Illinois
    Longitude
    -87.72134
    Latitude
    40.78248

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    FAQs

    What type of property is this?
    Commercial real estate - 54 Units, 4.94 Acres, Excellent Condition
    Where is this commercial real estate located?
    The property is located at 551-564 Clarence Ave Watseka, IL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    (815) 929-9381
    Request Owner's contact information
    551-564 Clarence Ave Watseka, IL 60970
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    Watseka, IL 60970
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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
    551-564 Clarence Ave Watseka, IL 60970
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