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 Details
Price:
$189,500
MLS #:
MRD12629533
Status:
Active
Beds:
6
Baths:
5
Type:
Multi Family
Neighborhood:
aledo
Listed Date:
Apr 25, 2026
Year Built:
1954
See this Listing
Schools
School District:
404
Elementary School:
Apollo Elementary School
Middle School:
Mercer County Junior High School
High School:
Mercer County High School
Interior
Heating
Baseboard
Exterior
Community Features
Curbs, Sidewalks, Street Lights, Street Paved
Construction Materials
Vinyl Siding
Exterior Features
Lighting
Lot Features
Corner Lot, Level
Parking Features
Off Street, Yes, Owned
Parking Spots
6
Parking Total
6
Roof
Asphalt
Financial
Tax Year
2024
Taxes
$5,931
Map
Community
- Address501 SW 3rd Street Aledo IL
- CityAledo
- CountyMercer
- Zip Code61231
Market Summary
Current real estate data for Multi Family in Aledo as of Jun 16, 2026
1
Multi Family Listed
52
Avg DOM
$189,500
Avg List Price
Property Summary
- 501 SW 3rd Street Aledo IL is a Multi Family for sale in Aledo, IL, 61231. It is listed for $189,500
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Copyright 2026. All rights reserved.
501 SW 3rd Street
Aledo, IL

