Two-Unit Duplex with Garage
New
For Sale
$165,000
109 W Madison St, Philo, IL 61864
Two residential leases run through April 2027, with additional rental income from two detached garages leased for storage.
Property SizeContact for details
Days on Market2
Property Features for 109 W Madison St
General Information
Standard status
Active
Property subtype
Multi-Family
Building Details
Year Built
1880
Listing Agency:
RE/MAX Choice
Listed By:
Craig Buchanan Team
(217) 369-8969
Source:
Craigbuchananteam
Added: Oct 4
Last Checked: Oct 4 at 2:02PM
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 RE/MAX Choice
Investment Insights
Based on property information with market context.
This 1880-built duplex contains more than 2,000 square feet and is arranged as two 2-bedroom, 1-bath units. The upper apartment has its own exterior stair access and updated kitchen area, bathroom, and paint; the main-floor unit is occupied by long-term tenants. A basement laundry area is shared. The interior staircase can be reopened to connect the floors for single-family use. The property is being sold as is.
Both residential leases extend through April 2027. Detached garages provide three-car and one-car capacity and are currently rented for storage. Separate electric meters serve the units, while water and gas are shared and billed back to tenants. Property improvements include a replacement roof, an updated septic system, and city water. A front porch, rear parking for tenants, and shared outdoor space are also present.
Both residential leases extend through April 2027. Detached garages provide three-car and one-car capacity and are currently rented for storage. Separate electric meters serve the units, while water and gas are shared and billed back to tenants. Property improvements include a replacement roof, an updated septic system, and city water. A front porch, rear parking for tenants, and shared outdoor space are also present.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- More than 2,000 square feet; built in 1880
- Residential leases run through April 2027
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
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Demographics for 61864, IL
1,637
Population
595
Households
2.8
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
22.9 sq mi
ZIP Area
71
Density / Sq Mi
$91,827
Median Household Income
$51,635
Median Earnings
$1,063
Median Rent
$203,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential leases run through April 2027, with additional rental income from two detached garages leased for storage.
Where is this duplex located?
The property is located at 109 W Madison St Philo, IL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; More than 2,000 square feet; built in 1880; Residential leases run through April 2027
