551-564 Clarence Ave Watseka, IL 60970

Property Details for 551-564 Clarence Ave

Year built

1990

Lot size

4.94 lot acres

Property type

Commercial real estate

Description

This exceptional investment opportunity encompasses a portfolio of 54 subsidized senior housing units situated on a substantial 4.94-acre lot in Watseka and Gilman, Illinois. The property consists of 27 two-unit buildings, plus a dedicated office/recreational building, totaling 54 units. The unit breakdown includes 48 one-bedroom units and 6 two-bedroom units. All buildings are currently in good condition. This portfolio presents a unique chance to acquire a well-maintained, income-producing asset. The property is currently financed through Rural Development/USDA loans and benefits from subsidies provided by USDA/RD/HUD. It's crucial for prospective buyers to be pre-qualified to acquire USDA/RD properties and understand the implications of continuing with the existing subsidy structured payments. The current owners, based out of state, are motivated to liquidate their Illinois holdings, making this a compelling opportunity for a qualified investor seeking a stable, income-generating property in a strong market. Detailed financial information is available upon request to qualified buyers. This is a turnkey operation with significant potential for long-term growth and return on investment.

Location Insight

City

Watseka

County

Iroquois

State

Illinois

Longitude

-87.7213

Latitude

40.7825