2490 N Water Street,Decatur, IL 62526
Decatur, IL 62526
Description
Logan Square is a legacy mixed-use investment property situated in the heart of Decatur, Illinois on U.S. Route 51 (Water Street). Developed between 1975 and 1979, the 4.51-acre complex consists of three buildings: one mixed-use building with residential apartments and street-level commercial suites, along with two additional residential buildings. The property includes 70 residential units and 13 commercial suites, offering a diversified income stream across 83 total units. The property has remained under the same original ownership since its construction, presenting a rare opportunity to acquire a locally established asset for the first time in nearly five decades. Logan Square benefits from a central location with public transportation access and close proximity to shopping, restaurants, medical facilities, and schools. Its established operating history, affordable unit mix, and potential for continued rent and occupancy growth make it an attractive value-add investment.
Details
| MLS # | 6260243 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1975 |
| Days On Site | 33 |
| Listing Provided By | Main Place Real Estate | Zane Peterson |
Features
| Story(s) | 2 |
|---|---|
| Units | 83 |
| Zoning | O-1 |
| Acreage | 4.51 |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 56422 |
|---|
Area Information
| State | IL |
|---|---|
| County | Macon |
| City | Decatur |
| Zip Code | 62526 |
| Community Name | Robert L Logans 1st Add |
| Listing VS Median (in Robert L Logans 1st Add) | |
Price: $3,450,000 low | high Med: $0 On site: 33 low | high Med: | |
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Learn More About This Property
| State | IL |
|---|---|
| County | Macon |
| City | Decatur |
| Zip Code | 62526 |
| Community Name | Robert L Logans 1st Add |
| Listing VS Median (in Robert L Logans 1st Add) | |
Price: $3,450,000 low | high Med: $0 On site: 33 low | high Med: | |
