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    Shelbyville, IL Multifamily Properties for Sale

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    Findlay, IL Pana, IL Assumption, IL Herrick, IL Sullivan, IL Bethany, IL Neoga, IL Mattoon, IL
    Turnkey Restaurant With Income Apartments
    Updated: Nov 14, 2025
    Turnkey Restaurant With Income Apartments

    114 E Main St, Shelbyville, IL 62565

    $375,000
    Turnkey downtown restaurant with a spacious, open main dining room plus a separate private dining room
    Fully equipped commercial kitchen with major appliances and prep stations included
    Bar area offers abundant seating for patrons to gather before or after meals
    Upstairs includes 2 income‑producing apartments, both currently rented
    Street parking in front and a parking lot behind the building for guests and tenants
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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 1 Active listings in Shelbyville, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Multifamily Property with Redevelopment Potential
    Multifamily Property with Redevelopment Potential

    417-461 W Wood St, Decatur, IL 62522

    $800,000
    16,248 sqft

    Converted multifamily property with value-add opportunity in Decatur, Illinois.

    View details
    26-Space Mobile Home Park
    26-Space Mobile Home Park

    3760 E William Street Rd, Decatur, IL 62521

    $545,000

    Mobile home park with income and growth potential.

    View details
    Student Housing Community Opportunity
    Student Housing Community Opportunity

    965 4th St, Charleston, IL 61920

    Contact for pricing

    Three neighboring student housing communities near Eastern Illinois University.

    View details
    Income-Producing Multifamily Property Near EIU
    Income-Producing Multifamily Property Near EIU

    1103 & 1105 6th St., Charleston, IL 61920

    $154,800

    Two income properties near Eastern Illinois University, ideal for rentals.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Commercial Land Development Parcel
    Commercial Land Development Parcel

    17039 Hillside Lane, Jerseyville, IL 62052

    $70,000
    2.10 AC lot

    Roughly two acres off Route 67 with utilities in place and an existing concrete pad for flexible development uses.

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    Residential Lot in Park Hills
    Residential Lot in Park Hills

    226 N Large Street, Park Hills, MO 63601

    Contact for pricing
    0.26 AC lot

    Corner lot suitable for building or mobile home placement.

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    Residential Lot in Wellsville, MO
    Residential Lot in Wellsville, MO

    412 Washington Street, Wellsville, MO 63384

    Contact for pricing
    0.17 AC lot

    Ready-to-build residential lot in a charming small town.

    View details
    University Park Developable Land
    University Park Developable Land

    976 Mesa Court, University Park, IL 60484

    Contact for pricing
    3.20 AC lot

    3.2 acres with 24 concrete housing pads in University Park.

    View details

    Shelbyville, IL Multifamily Properties Market Trends and Statistics

    Explore 1 multifamily properties for sale in Shelbyville, IL on our real estate platform. These investment opportunities span a total of 0 square feet of properties for sale, with an estimated market value of $375,000.

    Sale prices for multifamily properties in Shelbyville, IL start at $375,000, averaging $375,000, and reaching up to $375,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 1

    Demographics Overview

    Population 7,422
    Population Growth (5Y) +5.7%
    Median Household Income $61,722
    College Educated 26.8%

    Taxes & Financing

    Tax Rate (average for all types) 8.04%
    Property Tax per SF $86.06 per SF
    Average Loan-to-Value 65.0%

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