IL
Mercer
Aledo
61231
501 SW 3rd Street
501 SW 3rd Street, Aledo, IL 61231
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Listing Type
Multi Family
Listing Status
Active
27
$189,500

Home Details for 501 SW 3rd Street

Price
$189,500
Type
Residential Income
Total Bathrooms
5
Year built
1954
Lot size acres
0.13
County
Mercer
Basement
None
MLS Listing#
12629533
Property Description

Well-maintained 5-unit apartment building located within walking distance to schools, parks, churches, the YMCA, historic downtown Aledo, restaurants, shopping, and a movie theater. This property offers a strong investment opportunity with multiple unit types and a convenient in-town location. The building consists of five units, including one efficiency apartment (formerly office space) located at the front of the building, two 2-bedroom units on the main level, and two 1-bedroom units on the upper level. The three main-level units offer accessibility-friendly features. Recent updates include windows, flooring, insulation, appliances, downspouts, and heating systems, contributing to the overall maintenance and functionality of the property. At the time of listing, four units are tenant-occupied with established tenancy ranging from approximately 2 to 13 years. The efficiency unit is currently vacant, offering an opportunity for additional rental income. Buyer will assume existing leases.

Property Features
  • Cooling Information
    • Ceiling Fan(s)
  • Heating Information
    • Baseboard
  • Water Features
    • Public
  • Parking
    • Off Street
  • Basement
    • None
School Information
School Information for 501 SW 3rd Street, Aledo, IL 61231
Elementary School
Apollo Elementary School
Middle School
Mercer County Junior High School
High School
Mercer County High School
Listing Courtesy: eXp Realty - 833-835-5566
Midwest Real Estate Data logo Based on information submitted to the MLS GRID as of 2026-04-27 03:20:45. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last Updated: 2026-04-27 03:20:45
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