Building Details

Year Built 1972

Listing Agency: RE/MAX Rising

Listed By: Craig Buchanan Team Show Phone

Source: Craigbuchananteam

Added: Oct 4 Changed: Oct 11 Last Checked: Oct 12 at 7:21PM

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Investment Insights

Based on property information with market context.

This 1972 multifamily property has a two-bedroom, one-bath layout, updated vinyl windows, tiled bathrooms, and a newer roof. A sizable parking area and outdoor grilling space are also part of the property.

Tenants pay utilities. The property at 1503 Hovey Ave may be purchased together with 1501 Hovey Ave.

Key Highlights

• Two‑bedroom, one‑bath layout
• Updated vinyl windows and tiled bathrooms
• Newer roof

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Hair Salon Dental Office Grocery & Convenience Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

231

Businesses Nearby

Explore this area Business Placement

Demographics for 61761, IL

53,045

Population

22,037

Households

2.4

Avg Household Size

28

Median Age

52%

College-Educated

98%

High-School Grad

42.6 sq mi

ZIP Area

1,245

Density / Sq Mi

$66,642

Median Household Income

$28,606

Median Earnings

$976

Median Rent

$200,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Residents cover their own utility costs, and the property includes outdoor space for grilling.

Where is this multifamily property located?

The property is located at 1503 Hovey Ave Normal, IL.

What is the asking price?

The asking price for this property is $219,000.

What are key features of this property?

This property features: Two‑bedroom, one‑bath layout; Updated vinyl windows and tiled bathrooms; Newer roof