226 Locust St DeKalb, IL 60115

Property Details for 226 Locust St

Year built

1950

Property type

Commercial real estate

Description

This remarkable three-story building, located at 226 W Locust Street in DeKalb, Illinois's historic district, presents a compelling investment opportunity. Currently operating as a licensed seven-bedroom rooming house by the City of DeKalb, this property boasts significant potential for continued income generation. The building features charming original woodwork throughout, adding to its historical character and appeal. Three full bathrooms and two kitchens provide ample amenities for residents. The spacious rooms offer comfortable living spaces, and a laundry facility is conveniently located in the basement. Further enhancing the property's income potential is the possibility of developing a studio apartment on the third floor. Recent improvements include a new deck and stairs at the rear of the building, providing convenient outdoor access. Off-street parking is available for tenants, a valuable asset in a busy urban setting. Its prime location within walking distance of both Northern Illinois University's campus and downtown DeKalb ensures high occupancy rates and strong rental demand. The property is priced at $239,000 and sits on a lot with zero acres. This is an exceptional opportunity to acquire a well-maintained, income-producing property in a desirable location. The building's historical charm, combined with its modern conveniences and strategic location, makes it an ideal investment for discerning buyers seeking a strong return on investment.