700 3rd St Carmi, IL 62821
14-unit apartment complex project for sale with significant potential.
Type:Multifamily
Property size:
12,600 SF- Added:
- Mar 5, 2024
- Days on Market:
- 762
- Last Refresh:
- Mar 17 at 1:25 pm
Property Features for 700 3rd St
General Information
- Standard status
- Active
- Size
- 12,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1929
Listing agent Lucas Neuffer License #RB16001028
Listing office EXP Realty, LLC
Listing date Mar 5, 2024
Source Crexi
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 EXP Realty, LLC
Overview
Former Church Apartment Complex Project
This 14-unit apartment complex is a former church that was converted into apartments. Construction began in 2023, but the owner has decided to sell the property before completion. Contractors are available to finish the project. The building features a mix of unit types, including one 3-bedroom unit, two 2-bedroom units, three studios, and eight 1-bedroom units. The building has a rubber roof that is in good condition, along with five HVAC systems, four of which are new. An adjacent large parking lot offers approximately 60 parking spots, with potential for storage units or additional buildings. Five units are new construction with new framing, insulation, plumbing, electrical, drywall, flooring, and paint, and require punch list items to be completed. Four units existed prior to the current owner's purchase and have been leased and are currently for lease if not occupied. The remaining four units are in various stages of construction, with two being framed out and the other two needing plumbing finished. As of January 2026, the building has two tenants and generates $1,440 per month in rent. The building has the potential to earn $10,000+ per month. The property size is 12,600 square feet.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Carmi
- County
- White
- State
- Illinois
- Longitude
- -88.1644413
- Latitude
- 38.0945104
FAQs
What type of property is this?
Apartment building - 14-unit apartment complex project for sale with significant potential.
Where is this apartment building located?
The property is located at 700 3rd St Carmi, IL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: High Income Potential: Building has potential to earn $10,000+ per month once fully leased.; New Construction Units: Five units are brand new with new framing, insulation, plumbing, electrical, drywall, flooring, and paint.; Large Parking Lot: Approximately 60 parking spots adjacent to the building offer potential for storage units or additional buildings.
