Two-Building Multifamily
For Sale
$450,000
605 Orchard Street, Macomb, IL 61455
Ten-unit property with mixed student and professional tenancy, including a small on-site laundromat and tenant-billed utilities.
Property SizeContact for details
Days on Market88
Property Features for 605 Orchard Street
General Information
Standard status
Active
Property subtype
Commercial
Zoning
MULTI
Taxes and HOA fees
Annual Taxes
$12,660
Building Details
Year Built
2006
Stories
2
Units
10
Listing Agency:
MR. LANDMAN
(217) 202-0924
Listed By:
Jon Fisher · License #RB18000549
(217) 202-0924
Source:
Exit2newbeginningz
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 26 at 9:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MR. LANDMAN
Investment Insights
Based on property information with market context.
This 10-unit multifamily property is comprised of two adjacent buildings on two separate PINs, totaling approximately 0.64 acres. The larger building was constructed in 2006 and contains approximately 7,200 square feet, while the smaller building, reportedly constructed in 1940, contains approximately 2,384 square feet. The current unit mix includes seven three-bedroom / one-bath units, one two-bedroom / one-bath unit, one one-bedroom / one-bath unit, and one studio unit.
The property is located just blocks from Western Illinois University in Macomb, supporting a tenant base that includes both students and young professionals. Lease expiration dates are staggered to help reduce turnover concentration. The property is approximately 90% occupied, with ownership anticipating full occupancy by August. There are approximately 20 parking spaces available between the two buildings, with additional street parking nearby.
Operating expenses are split: ownership pays water and garbage, while tenants are billed directly for electric and gas. In addition to residential rents, the property includes a small laundromat generating approximately $2,600 annually, and all laundromat equipment is owned by the seller and will transfer with the sale. Current rental rates range from approximately $600 to $750 per month based on unit size and configuration.
The property is located just blocks from Western Illinois University in Macomb, supporting a tenant base that includes both students and young professionals. Lease expiration dates are staggered to help reduce turnover concentration. The property is approximately 90% occupied, with ownership anticipating full occupancy by August. There are approximately 20 parking spaces available between the two buildings, with additional street parking nearby.
Operating expenses are split: ownership pays water and garbage, while tenants are billed directly for electric and gas. In addition to residential rents, the property includes a small laundromat generating approximately $2,600 annually, and all laundromat equipment is owned by the seller and will transfer with the sale. Current rental rates range from approximately $600 to $750 per month based on unit size and configuration.
Key Highlights
- 10‑unit multifamily property with mixed student and young professional tenants, located just blocks from Western Illinois University in Macomb.
- Two adjacent buildings on two PINs totaling approx. 0.64 acres: 2006 building (~7,200 SF) plus smaller building (~2,384 SF).
- Unit mix includes seven 3BR/1BA units, plus one 2BR/1BA, one 1BR/1BA, and one studio unit.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 61455, IL
17,630
Population
8,682
Households
2
Avg Household Size
32
Median Age
39%
College-Educated
95%
High-School Grad
162.5 sq mi
ZIP Area
108
Density / Sq Mi
$45,048
Median Household Income
$19,778
Median Earnings
$739
Median Rent
$117,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Ten-unit property with mixed student and professional tenancy, including a small on-site laundromat and tenant-billed utilities.
Where is this apartment building located?
The property is located at 605 Orchard Street Macomb, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 10‑unit multifamily property with mixed student and young professional tenants, located just blocks from Western Illinois University in Macomb.; Two adjacent buildings on two PINs totaling approx. 0.64 acres: 2006 building (~7,200 SF) plus smaller building (~2,384 SF).; Unit mix includes seven 3BR/1BA units, plus one 2BR/1BA, one 1BR/1BA, and one studio unit.
