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412-414 Locust St 7,000 SF Retail Building Delavan, IL 61734 $390,718 CAD ($55.82 CAD/SF)
INVESTMENT HIGHLIGHTS
- Prime downtown location in Delavan’s business district
- Recent structural and aesthetic upgrades for long-term stability
- Fully leased mixed-use property with strong rental income
- Dedicated carport parking for all residential units
EXECUTIVE SUMMARY
This historic building offers a prime investment opportunity in the heart of Delavan’s downtown square. The property combines two street-level retail spaces with four well-maintained apartments above, creating a stable income stream in a vibrant business district. Recent capital improvements include a resealed roof (2024), updated facade and foundation (2020), new gutters, and multiple window replacements, ensuring long-term durability. Tenants benefit from a common laundry room and dedicated carport parking, enhancing convenience and appeal.
Located within a TIF District, the property provides potential tax advantages for investors. Its central location offers excellent visibility and walkability, surrounded by local businesses, community services, and residential neighborhoods. With all apartments and retail spaces currently leased, plus an additional storage area that could be converted to retail use, this asset delivers immediate cash flow and future upside.
Located within a TIF District, the property provides potential tax advantages for investors. Its central location offers excellent visibility and walkability, surrounded by local businesses, community services, and residential neighborhoods. With all apartments and retail spaces currently leased, plus an additional storage area that could be converted to retail use, this asset delivers immediate cash flow and future upside.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
7,000 SF
Building Class
B
Year Built/Renovated
1891/2020
Price
$390,718 CAD
Price Per SF
$55.82 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
1.00
Lot Size
0.16 AC
Zoning
Business
PROPERTY TAXES
| Parcel Number | 21-21-10-125-017 | Improvements Assessment | $44,489 CAD |
| Land Assessment | $4,724 CAD | Total Assessment | $49,213 CAD |
PROPERTY TAXES
Parcel Number
21-21-10-125-017
Land Assessment
$4,724 CAD
Improvements Assessment
$44,489 CAD
Total Assessment
$49,213 CAD
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412-414 Locust St
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