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Listed by Elizabeth Bowen • RE/MAX Traders Unlimited
$ 700,000
Est. payment /mo
New
313 GALESBURG RD Knoxville, IL 61448
22,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 22,000 sqft
Price per Sqft $31
MLS Listing ID PA1270145
Annual Tax Amount $8,978
Tax Year 2025
Lot Size 0.850 Acres
Acres 0.85
Lot Dimensions 164x227
Property Sub-Type Commercial
Source rmlsa
Property Description
Positioned on a large lot with room inside for future expansion, this 24-unit multifamily property presents an opportunity to increase both scale and long-term value. Recent construction has added a unit mix that includes lofts, efficiency apartments, one-bedroom, and two-bedroom units, providing flexibility to appeal to a broad tenant base. With several newly completed units already in place and additional development potential remaining, investors have the opportunity to continue executing a value-add strategy while building on the progress that's already been made. Whether you're looking to expand an existing portfolio or acquire an asset with meaningful upside, this property offers both current income potential and room for future growth.
Location
State IL
County Knox
Area Paar Area
Zoning Commercial
Direction West on W Main St to Galesburd Rd
Interior
Heating Natural Gas
Cooling Central Air, Other
Flooring Carpet, Concrete, Tile
Fireplace N
Exterior
View true
Roof Type Composition Shingle
Garage 1
Building
Faces West on W Main St to Galesburd Rd
Sewer None
Water Municipal/City
Structure Type Vinyl Siding,Frame
Others
Tax ID 10-29-252-015
Miscellaneous Pets Approved
Security Features No