121-123 Main St Salem, IL 62881
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 121-123 Main St
- Year built
- 1940
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This 1940s building at 121-123 W MAIN Street, Salem, IL 62881, presents a unique investment opportunity. The property, encompassing land, office, and retail space, offers three separate commercial spaces on the main level, potentially combinable into one large unit. A newer HVAC unit serves the main floor. Upstairs, four rental units exist; one currently generates $550 monthly rent, while three others require renovation to become rentable. Previous tenants include The Added Touch, Salem Cycles, and Ritter Farms, showcasing the building's established commercial history. Some plumbing and electrical updates have already been completed. The building's location in Salem's downtown district offers significant income potential. Contact the City of Salem for information on available TIF funds and grants. This property requires sweat equity but holds substantial promise for a savvy investor. The asking price is $95,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Illinois
- Longitude
- -88.9464
- Latitude
- 38.6269
