412 S Locust St

Delavan, IL 61734

$279,900
Price
—
Beds
—
Baths
7,000 Sq. Ft.
$40 / Sq. Ft.
7,000
Sq. Ft.
$40
per Sq. Ft.
Pending ( No Showings )
Pending ( No Showings )

Description

Excellent opportunity to own a historic building on the square downtown in Delavan. This investment property consists of two retail spaces and one apartment on the main level, and 3 apartments on the upper level of the building. New carports were put in to provide spaces for each unit. All four apartments are currently leased and both retail spaces are currently leased. There is one space still available that the current owners are using for storage that could be added to either retail unit. The...Excellent opportunity to own a historic building on the square downtown in Delavan. This investment property consists of two retail spaces and one apartment on the main level, and 3 apartments on the upper level of the building. New carports were put in to provide spaces for each unit. All four apartments are currently leased and both retail spaces are currently leased. There is one space still available that the current owners are using for storage that could be added to either retail unit. The building has been well cared for, updated and incldues a common laundry room. Current rents are $3,450 per month. Recent improvements include new downspouts/gutters, front foundation and facade (2020), roof was repaired and resealed in 2024, and many windows have been replaced. Dual entry in CMLS as PA1261454.
  1. Listed by Justin Ball • RE/MAX Traders Unlimited
  2. Listed by Jessica Ball • RE/MAX Traders Unlimited

Property Details for 412 South Locust Street

Parking Total
4.0
Subdivision Name
Original Town
LISTING UPDATED: 12/14/2025 02:01 PM

Property Details for 412 South Locust Street

StatusPending ( No Showings )
MLS #PA1261554
Days on Market61
Taxes$2,558 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Residential Income
Year Built1891
Lot Size-
CountyTazewell County

Location

Listing Courtesy of RE/MAX Traders Unlimited
Add your commute

Building Information for 412 South Locust Street

Stories-Residences6Year Built1891Building Size-Lot Size-

Payment Calculator

$1,596 per month

30 year fixed, 6.28% Interest

Principal and Interest

$1,383

Property Taxes

$213

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 412 South Locust Street

Summary
Location and General Information
  • City: Delavan
  • County Or Parish: Tazewell
  • Directions: Downtown Delavan
  • Latitude: 40.371952
  • Longitude: -89.546808
  • MLSArea Minor: PAAR Area
  • Postal Code: 61734
  • State Or Province: IL
  • Zoning: Business District
Taxes and HOA Information
  • Parcel Number: 21-21-10-125-017
  • Tax Annual Amount: $2,558
  • Tax Legal Description: SEC 10 T22N R4W ORIGINAL TOWN SL 18, 19 & S 1.26 OF SL 17 BLOCK 26 & N .52 SL 20 NW 1/4
  • Tax Year: 2024
School Information
  • High School: Delavan
Parking
  • Parking Features: Carport, On Street
Property
Lot Information
  • Structure Type: Two or More Story, Other
  • Building Area Total: 7000.0
  • Lot Features: Level
  • Lot Size Dimensions: 52x130x52x130
  • Number Of Units Total: 6
  • 100 Year Plain: No
  • Road Surface Type: Alley Paved, Paved
Property and Assessments
  • Documents Available: Aerial Photos,Legal Description,None Available
  • Foundation Details: Brick/Mortar
  • New Construction: No
  • Year Built: 1891
  • Year Built Source: Public Records
Utilities
  • Number Of Electric Meters: 5
  • Number Of Gas Meters: 5
  • Numberof Water Meters: 2
  • Water Sewer Expense: $1,200
  • Water Source: Public Sewer, Public
Interior and Exterior Features
Exterior Features
  • Roof: Other
  • Construction Materials: Brick
Interior Features
  • Basement: None
  • Cooling: Central Air
  • Heating: Heating Systems - 2+, Forced Air, Natural Gas, Window Unit(s)
  • Interior Features: Storage
  • Laundry Features: Common Area, Private, Units Hook-Ups
  • Number Of Central Air Units: 2
  • Number Of Dishwashers: 1
  • Number Of Dryers: 2
  • Number Of Heating Units: 5
  • Number Of Ranges: 4
  • Numberof Refrigerators: 4
  • Number Of Washers: 2
  • Number Of Water Heaters: 2
  • Number Of Window Units: 4
  • Operating Recording Device: Audio & Video
Multi Family
Income & Expenses
  • Electric Expense: $720
  • Gross Income: $42,120
  • Gross Scheduled Income: $41,400
  • Insurance Expense: $2,580
  • Maintenance Expense: $0
  • Manager Expense: $0
  • Net Operating Income: $34,126
  • Operating Expense: $5,436
  • Advertising Expense: 0
  • Gas Expense: 0
  • Misc Annual Income: 720
  • Trash Expense: $936
Unit 1
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 1
  • Number Parking: 1
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
Unit 2
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 1
  • Number Parking: 1
  • Number Uncovered: 0
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
Unit 3
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 1
  • Number Parking: 1
  • Number Uncovered: 0
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
Unit 4
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 1
  • Number Parking: 1
  • Number Uncovered: 0
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 4
Rental
Rent Information
  • Tenant Pays: All Utilities

Property History for 412 South Locust Street

DateEvent & SourcePriceAppreciation
Dec 8, 2025

Pending

RMLS ALLIANCE #PA1261554

—
Oct 10, 2025

Price Change

RMLS ALLIANCE #PA1261554

$279,900—
Oct 8, 2025

Listed (Active)

RMLS ALLIANCE #PA1261554

$295,000—
DateEvent & SourcePrice
12/08/2025

Pending

RMLS ALLIANCE #PA1261554

—
10/10/2025

Price Change

RMLS ALLIANCE #PA1261554

$279,900
10/08/2025

Listed (Active)

RMLS ALLIANCE #PA1261554

$295,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 412 South Locust Street

This home is within Delavan Community Unit School District 703.
Rating
School
Type
Grades
Distance
Delavan Elementary School
Public - PK to 6
Delavan Jr High School
Public - 7 to 8
Delavan High School
Public - 9 to 12
Rating
School
Distance
Delavan Elementary School
PublicPK to 6

Delavan Jr High School
Public7 to 8

Delavan High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of RE/MAX Traders Unlimited

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/15/2025 04:17 PM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.