Current Use by Public Records
- Christianne M. Judy, MSW / Counselor / Social Worker
- Trend Land Trust / Real Estate Agency
Property Details for 635 Lincoln Ave
- Year built
- 1897
- Property type
- Office Spaces
- Property subtype
- Office Units
Description
This exceptional commercial property in O'Fallon, Illinois, presents a compelling investment opportunity. Located at 635 S Lincoln Ave, this property boasts two buildings totaling 3,036 square feet on a 9,148 square foot corner lot. The buildings, constructed in 1897 and renovated in 1985, currently house four units with multiple tenants under gross lease agreements. The property includes three leased businesses: counseling offices and alterations (1,600 sq ft), a hair braiding business (612 sq ft), and a vacant 824 sq ft, two-bedroom apartment offering significant value-add potential. Current monthly rent totals $2,375, with the landlord responsible for utilities (excluding electricity at one unit). This prime location on South Lincoln Avenue benefits from high visibility and traffic. Furthermore, this property is situated to benefit from the upcoming FORWARD 50 project, which will enhance the streetscape and surrounding area, promising increased property value. The asking price is $275,000, translating to $90.58 per square foot. This is a rare opportunity to acquire a well-maintained, multi-tenant property in a thriving Illinois community.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- O'Fallon
- County
- St Clair
- State
- Illinois
- Longitude
- -89.9111
- Latitude
- 38.5868
