501 SW 3rd ST, Aledo, IL 61231
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501 SW 3rd ST, Aledo, IL 61231
501 SW 3rd ST, Aledo, IL 61231
501 SW 3rd ST, Aledo, IL 61231
501 SW 3rd ST, Aledo, IL 61231
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Thomas Pilafas

Thomas Pilafas

+1(708) 805-2250
$ 189,500
Est. payment /mo
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501 SW 3rd ST Aledo, IL 61231

5 Baths

5,662 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12629533

Year Built 1954

Annual Tax Amount $5,424

Tax Year 2024

Lot Size 5,662 Sqft

Lot Dimensions 96x60

Property Sub-Type Two to Four Units

Property 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.

Location

State IL

County Mercer

Area Aledo

Rooms

Basement None

Interior

Heating Baseboard

Equipment Ceiling Fan(s), Multiple Water Heaters

Fireplace N

Exterior

Exterior Feature Lighting

Community Features Curbs, Sidewalks, Street Lights, Street Paved

Roof Type Asphalt

Building

Lot Description Corner Lot, Level

Dwelling Type Two to Four Units

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

New Construction false

Schools

Elementary Schools Apollo Elementary School

Middle Schools Mercer County Junior High School

High Schools Mercer County High School

School District 404 , 404, 404

Others

Ownership Fee Simple

Special Listing Condition None

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Starr Fell of  eXp Realty 
Thomas Pilafas

Thomas Pilafas

Agent

+1(708) 805-2250

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501 SW 3rd ST