700 3Rd St, Carmi, IL 62821

This is a 14 unit complex that is a former church turned into apartments. The construction was started in 2023 and owner has decided to sell rather than finish project. There are contractors that could be in place to finish the current project. The building has a steady mix of units: One 3 bedroom, Two 2 bedrooms, Three Studios, and 8 One Bedrooms The building has a rubber roof that is in good condition and has 5 HVAC systems, 4 of which are brand new. There is a large parking lot adjacent to the building with approximately 60 parking spots that could be used for storage units or additional buildings. Five of the units are brand new construction: New framing, insulation, plumbing, electrical, drywall, flooring, paint. These units need punch list items to be completed. Four of the units are existing prior to current owner purchase and have been leased and currently are for lease if not occupied. The remaining four units are in various stages of construction with two being framed out and the other two needing plumbing finished. As of January 2026 the building currently has 2 tenants, and makes $1,440 a month in rent. Building has potential to earn $10,000+ per month.