551-564 N Clarence Avenue, Watseka, IL 60970

Building Details

Year Built

1990

Listing agent Jay Tamblyn

Listing office McColly Bennett Real Estate Show Phone

Listing date May 18, 2021

Source Xome

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Overview

This portfolio includes 54 total units of subsidized senior housing, distributed across 27 two-unit buildings, plus an additional office/recreational building. The portfolio consists of 42 units located in Watseka and 12 units in Gilman. The unit mix features 48 one-bedroom units and 6 two-bedroom units. The properties are currently tied into Rural Development/USDA loans and subsidized via USDA/RD/HUD. Any potential buyer must be qualified to acquire USDA/RD properties to continue with the subsidy structured payments. The properties are reported to be in good condition. The out-of-state owners are looking to liquidate their Illinois assets. Financials are available to qualified buyers.

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Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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Location Insight

• Map
• Local Demand

City

Watseka

County

Iroquois

State

Illinois

Longitude

-87.721069

Latitude

40.781779

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FAQs

What type of property is this?

Apartment building - 54-unit subsidized senior housing portfolio in Watseka and Gilman, Illinois.

Where is this apartment building located?

The property is located at 551-564 N Clarence Avenue Watseka, IL.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: 54 total units of subsidized senior housing; USDA/RD/HUD subsidies in place (buyer must qualify); Portfolio of 27 two‑unit buildings plus an office/recreational building