Lori Prior
REALTOR®
BEDS0
BATHS
MLS#25073689
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONSouthern Ext
SCHOOLGranite City DIST 9
Property Description
Here is your opportunity to add a solid cash flow surplus to your portfolio. This mixed use property offers a variety of income producing methods. Both of the residential upstairs apartments are currently rented, and the turn key bar & grill is ready to open right away, with a new owner or tenant of your choice. The main floor fully operational bar and grill was previously rented for $1,500/mo. Items included in the sale and will be transferred to the new owner, are all of the kitchen equipment consisting of the commercial stove top, fryers, prep coolers, range hood, perfectly functioning large walk in refrigeration system, and beer coolers. The upstairs residential apartment units consist of a 2 Bedroom 1 Bath, paying $900/mo. And a spacious 1 bedroom 1 bath unit and comes fully furnished provided by the seller, the tenants are paying $850/mo. The roof was completely replaced with architectural shingles in 2023. The commercial tenant once paid ALL utilities as apart of their lease terms, considering there is one electric, gas, & water meter. Lastly, there is an extra parcel included in the sale 21-2-19-401-037, it is a gravel lot for extra parking, or further development opportunity, located directly across the street on the opposite corner lot. That parcel has a separate address of 1400 Madison Ave. Feel free to contact the listing agent for further details.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Partial, Walk-Out Access
Cooling: Central Air
Heating: Forced Air, Hot Water
Lot Size: 0.29 Acres
Taxes: $1,745
Year Built: 1940
Feature Descriptions
Days on Site: 138
Exterior: Brick
Parcel#: 21-2-19-24-19-402-008
Parking: Gravel
Parking Notes: Gravel
SQFT. Above Grade: 4608
Units: 3
Local Schools
High School: Granite City
Middle School: GRANITE CITY DIST 9
Elementary School: GRANITE CITY DIST 9
School District: Granite City DIST 9
Listed By / Shown By
Listed By
Agency Name: Landmark Realty
Shown By
Agent Name: Lori Prior
Agent Phone:
Agency Title: Strano & Associates
Estimate Your Payment
Estimated Payment
$ 646.35 per month $442.89 Principal & Interest $145.42 Property Tax $58.04 Homeowner's InsuranceChange Payment Information
Lori Prior
Cell: (314) 520-0953
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1348 Madison Avenue | MLS# 25073689
This multi-family property located at 1348 Madison Avenue, Madison, IL 62060 is currently listed for sale with an asking price of $199,000. Madison Avenue is located within the Granite City DIST 9 school district. Search Madison real estate on lprior.strano.com today.