228 Main Street Savanna, IL 61074 • Residential - Single Family • Active $63,000

Description

$1,000/month income on a $63,000 purchase price with built-in flexibility for future use. Listed in the residential class for maximum exposure, this unique property offers a rare opportunity to own a mixed-use building featuring two distinct units under one roof in the heart of downtown Savanna. Whether you're an investor, small business owner, or someone looking to live and work in the same space, this property provides both immediate income potential and owner-occupant flexibility. At current rents, the property has been generating $1,000 per month ($12,000 annually), with tenants paying all utilities, leaving the owner responsible only for taxes and insurance (approximately $3,000/year). The rear unit is currently occupied by a long-term tenant on a month-to-month lease, providing continued income. The front unit, approximately 20x30, is a commercial storefront space with excellent Main Street visibility, large display windows, a half bath, and a small break room. This space is currently leased to The Man Cave Barbershop, a well-established local business, through May 31, 2026. Their upcoming vacancy creates a valuable opportunity for a new owner to establish their own business, set new lease terms, or reposition the space for additional income. The rear unit, approximately 20x40, is accessible through a separate hallway and is currently set up as a furnished studio-style space featuring two open areas, an efficiency kitchenette, and a full bath. This flexible space can continue to be used as a residential rental or adapted for commercial use, depending on the buyer's needs. The unit also includes access to a basement for additional storage. Additional improvements include a new hot water heater (2023) and newer gas-forced air and central A/C systems. Located adjacent to the local movie theater and across from Manny's Pizza in Savanna's historic downtown district, the property benefits from steady visibility and foot traffic. With one unit providing current income and the other becoming available for owner use or lease-up, this property offers a compelling combination of cash flow, flexibility, and upside potential at an approachable price point. Seller is a licensed real estate agent.

Property Highlights