Contact us: 563.441.1776
Description
RARE 16-UNIT VALUE-ADD ON 1.90 ACRES Built in 1978 as an assisted living residence and later operated as Doll Memorial Apartments, this single-story, 12,545 sq ft building offers something few small-town investments can: purpose-built construction, an efficient layout and real room to grow. The unit mix is simple and highly rentable. There are 8 studios (approx. 529 sq ft) and 8 two-bedroom apartments (approx. 634 sq ft), each with its own bathroom. The single-level design means no stairs, easy access to every unit and straightforward maintenance and turnovers. Ten units are currently vacant, and most are already in rentable condition, giving the next owner a clear path to lease-up through light work rather than major renovation. All of this sits on a generous 1.90-acre lot on the south side of Lena, near IL Route 73 and a short drive from Freeport. It's an outstanding opportunity for the investor ready to fill units, add value and build long-term equity. Buyer to verify all information.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
County: Stephenson
Listed By:
Home One Realty
708-214-6425
MRED MLS
MLS ID: 12796006
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1008 Logan Street, Lena, IL 61048.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $649,900 | $649,900 | $649,900 |
| Down Payment | $129,980 | $22,747 | $162,475 |
| Monthly Mortgage Amount | $3,416 | $4,192 | $4,213 |
| Taxes | $904 | $904 | $904 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $286 | $0 |
| Monthly Estimated Total | $4,510 | $5,572 | $5,307 |
Disclaimer:
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 10/29/2026. The listing information on this page last changed on 10/29/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Thu 10/29/2026 12:02:13 AM EST) or MRED MLS (last updated Wed 10/28/2026 11:55:04 PM EST) or SCWMLS (last updated Wed 10/28/2026 11:55:21 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Wed 10/28/2026 10:15:54 PM EST) or Cedar Rapids MLS (last updated Wed 10/28/2026 10:46:58 PM EST) or NEIRBR MLS (last updated Wed 10/28/2026 11:58:43 PM EST) or ICAAR MLS (last updated Wed 10/28/2026 11:37:37 PM EST) or ECIMLS (last updated Wed 10/28/2026 11:44:36 PM EST) or RMLSA (last updated Thu 10/29/2026 12:00:59 AM EST) or Muscatine MLS (last updated Thu 10/29/2026 12:00:12 AM EST) or No Coast MLS (last updated Wed 10/28/2026 11:54:23 PM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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