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Mitchell Cain

appraiser2002@gmail.com +1(618) 292-7227

$699,000

Est. payment - /mo

2,435 Sqft Lot

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Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Subdivision Godfrey & Gilmans Add

MLS Listing ID 26036927

Year Built 1891

Annual Tax Amount $16,513

Lot Size 2,435 Sqft

Acres 0.0559

Property Sub-Type Retail

Property Description

Excellent investment opportunity to own a mixed-use commercial property in the heart of downtown Alton's entertainment district, just blocks from the Mississippi River. This income producing building features a restaurant and bar on the main level, complete with a fenced outdoor patio perfect for dining, entertainment, and special events. The upper levels include four residential apartments(2-two bedroom and 2-one bedroom apartments), providing consistent rental income. An expansive storage area offers great potential for redevelopment into additional apartment units, creating upside for future cash flow. Also located on the main level is a salon space and restaurant/retail area with outside patio, adding additional income streams and enhancing the property's diverse investment income mix. With its combination of commercial, residential, and redevelopment potential, this unique property offers a rare chance to invest in one of Alton's desirable downtown locations.

Location

State IL

County Madison

Interior

Heating Forced Air, Natural Gas

Cooling Ceiling Fan(s), Central Air

Flooring Carpet, Tile, Vinyl, Wood

Fireplace N

Laundry Common Area, In Hall, Upper Level

Exterior

Fence Other, Partial

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

Building

Water Public

Structure Type Brick,Other,Wood Siding

Others

Ownership Private

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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Listed by Rick Lauschke • Coldwell Banker Brown Realtors

Nearby School & Business

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Mitchell Cain

+1(618) 292-7227

Broker | License ID: 475.180028

Broker License ID: 475.180028

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119 W 3rd ST Alton, IL 62002

Mitchell Cain

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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