500 W State St, Jacksonville, IL 62650

The School Apartments, located at 500 W. State Street in Jacksonville, Illinois, is a 58-unit multifamily property. Originally a school building, the property was converted to multifamily use. The property has distinctive architectural character and durable construction elements. The property is positioned within an established residential corridor in Morgan County, providing accessibility to employment, retail, and community services. Jacksonville Shoppes and Wal-Mart Plaza are located within approximately 1.5 miles, providing access to grocery, pharmacy, and general retail amenities. The property is also two miles from Passavant Area Hospital. Illinois College contributes to rental demand from students, faculty, and administrative staff. Located within the Jacksonville School District 117 attendance area and near major local roadways, the property is well-positioned within a stable and accessible residential submarket. Jacksonville serves as a key hub in Central Illinois, supported by employment across healthcare, education, corrections, government services, and light manufacturing. Major employers include Passavant Area Hospital, Illinois College, Jacksonville Correctional Center, and several regional manufacturing operators. The city benefits from connectivity to Springfield and surrounding communities via U.S. Route 67 and IL-104. This property presents investors with the opportunity to acquire an income-producing asset in a steady, institutionally anchored Central Illinois rental market.