Contact us: 563.441.1776
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 Highlights
Property Type: Multi Unit - Multiple
General Information
Bathrooms: 5
County: Mercer
High School: Mercer County High School
Listed By:
eXp Realty
833-835-5566
MRED MLS
MLS ID: 12629533
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501 SW 3rd Street , Aledo, IL 61231.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $189,500 | $189,500 | $189,500 |
| Down Payment | $37,900 | $6,633 | $47,375 |
| Monthly Mortgage Amount | $897 | $1,116 | $1,152 |
| Taxes | $264 | $264 | $264 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $83 | $0 |
| Monthly Estimated Total | $1,261 | $1,563 | $1,516 |
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 04/28/2026. The listing information on this page last changed on 04/28/2026. 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 Tue 04/28/2026 12:08:07 AM EST) or MRED MLS (last updated Tue 04/28/2026 12:05:01 AM EST) or SCWMLS (last updated Mon 04/27/2026 11:54:41 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Mon 04/27/2026 10:15:22 PM EST) or Cedar Rapids MLS (last updated Mon 04/27/2026 10:44:15 PM EST) or NEIRBR MLS (last updated Mon 04/27/2026 11:58:41 PM EST) or ICAAR MLS (last updated Mon 04/27/2026 11:37:28 PM EST) or ECIMLS (last updated Mon 04/27/2026 11:44:11 PM EST) or RMLSA (last updated Tue 04/28/2026 12:00:55 AM EST) or Muscatine MLS (last updated Tue 04/28/2026 12:00:07 AM EST) or No Coast MLS (last updated Tue 04/28/2026 12:04:19 AM 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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Based on information submitted to the MLS GRID. 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.
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