Added: May 14Changed: Oct 13Last Checked: Oct 12 at 5:16PM
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Investment Insights
Based on property information with market context.
Located in the heart of Downtown Decatur at 160-190 N. Merchant Street, the 'Post Building' presents a historic mixed-use investment opportunity. Originally constructed in 1888, this three-story brick storefront property is situated at the corner of Merchant Street and Prairie Avenue, surrounded by downtown dining, boutiques, entertainment, offices, public services, and civic activity. The property, totaling approximately 12,291 square feet, features a mix of restaurant, retail, office, and residential uses, offering both stabilized income potential and upside through lease-up of available space. The first floor is configured for two storefront commercial spaces and a common area with elevator and staircase. Street-level spaces include Goodfella's Cigars and a vacant restaurant space. Upper-level spaces include an office lease, Taproot Restaurant, and a residential loft. The second floor includes restaurant/bar improvements and dining areas, while the third floor offers flexible office or studio space with strong natural light, downtown views, elevator access, and walk-up stair access. The furnished apartment includes modern finishes, a kitchen, a bathroom, and a living space, supporting continued use as corporate housing, short-term rental, or traditional residential tenancy. The building benefits from recent updates and a functional mixed-use layout, with separately metered gas and electric service. Situated in the Decatur Central TIF District, the downtown area has seen continued public and private reinvestment, including streetscape improvements, parking enhancements, and ongoing redevelopment activity. The building's historic character, central location, multiple income streams, and available lease-up upside offer a rare opportunity to acquire a recognizable downtown asset with both current utility and long-term repositioning potential.
Key Highlights
Historic mixed‑use property in Downtown Decatur with diversified income streams.
Immediate value‑add opportunity through lease‑up of vacant restaurant space with existing restaurant/bar improvements.
Located in the Decatur Central TIF District, benefiting from ongoing public and private reinvestment.
Property Analytics
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Current Use
Goodfellas Fine Cigars(Bike/Boat/Book/etc) Store
Suggested Use
Top PickBakerySkin Care ClinicStorage FacilityGarden CenterLocksmithComputer & Electronic Repair
Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Trade Area within ½ mile
1,367
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle KShops & Services
12,904 visits/mo0.3 miles
Marathon PetroleumShops & Services
2,391 visits/mo0.5 miles
Firestone Complete Auto CareShops & Services
1,528 visits/mo0.2 miles
Demographics for 62523, IL
886
Population
364
Households
2.4
Avg Household Size
40
Median Age
5%
College-Educated
68%
High-School Grad
0.4 sq mi
ZIP Area
2,215
Density / Sq Mi
$333
Median Rent
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Market
Vacancy Rate%for Retail in Midwest region
8%2020
7.3%2021
6.5%2022
6%2023
5.7%2024
6.3%2025
Questions? Ask Rey
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Mixed-use property - Three-story brick building in Downtown Decatur with diversified income streams.
Where is this mixed-use property located?
The property is located at 160 North Merchant Street Decatur, IL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Historic mixed‑use property in Downtown Decatur with diversified income streams.; Immediate value‑add opportunity through lease‑up of vacant restaurant space with existing restaurant/bar improvements.; Located in the Decatur Central TIF District, benefiting from ongoing public and private reinvestment.
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New: 350 Mission StJust listed · $36/SF · 2 min ago