334 W Main St Decatur, IL

This mixed-use property offers a value-add investment opportunity, combining stabilized residential income with commercial upside potential. The residential component features 8 fully renovated apartment units, generating $8,800 in monthly rental income. These units include modern amenities such as granite countertops, luxury vinyl plank flooring, and stainless steel appliances. The roof was completely replaced 10 years ago, with preventative patching performed within the last two years. Two new HVAC units have been installed, and all units are inspected and tested every 6 months. All electrical and plumbing on the second floor have been updated. The commercial component includes 7,800 square feet of main-level retail/office space and an additional 6,000 square feet of basement area formerly configured for laboratory use. The commercial space is currently vacant and available for lease at market rates of approximately $9 per square foot, representing potential additional monthly income of $5,850. Property infrastructure includes 32 parking spaces on a 0.55-acre lot, handicap accessibility, and security systems. Current monthly operating expenses total $3,491, including taxes ($1,192), insurance ($500), utilities ($1,500), and maintenance ($300). Located on West Main Street in downtown Decatur, the property is situated within the city’s primary commercial corridor. Decatur serves as the county seat of Macon County and hosts several major employers, including Archer Daniels Midland Company headquarters. The downtown area has experienced renewed development activity in recent years, with municipal and private investment focused on revitalization efforts. The property’s location offers high visibility, pedestrian traffic, and proximity to Millikin University. Transportation access includes public transit routes and major roadway connections, while the walkable downtown environment supports retail and service businesses. The property size is 14,500 square feet.