501 SW 3rd St

Aledo, IL 61231

$209,900
Price
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Beds
—
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
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per Sq. Ft.

Description

Check out this Fabulous Apartment Building! This well maintained building features 5 separate apartments and is located within walking distance to schools, parks, churches, the YMCA, Historical Downtown Aledo, Restaurants, Shopping, Movie Theater, and More! The front of the building was previously used as an office space, but has been converted into an efficiency apartment. The main level features 2 more apartments that each have 2 bedrooms. The 3 main level apartments are Handicap Accessible. The...Check out this Fabulous Apartment Building! This well maintained building features 5 separate apartments and is located within walking distance to schools, parks, churches, the YMCA, Historical Downtown Aledo, Restaurants, Shopping, Movie Theater, and More! The front of the building was previously used as an office space, but has been converted into an efficiency apartment. The main level features 2 more apartments that each have 2 bedrooms. The 3 main level apartments are Handicap Accessible. The upper level offers 2 One bedroom apartments. This building has been well maintained and recently updated items include: siding, flooring, insulation, appliances, downspouts, heating & A/C units, and more! All 5 units are currently tenant occupied. The new owner would take over the leases and begin making residual income immediately!
  1. Listed by Starr Fell • eXp Realty
    P: (833)-835-5566 C: (309)-582-6425 starrfell13@gmail.com
  2. Listed by Zach Frick • eXp Realty
    P: (833)-835-5566 C: (309)-738-8708 zfrick4518@gmail.com

Property Details for 501 Southwest 3rd Street

Area
Aledo
Air Conditioning Type
Window Unit(s)
LISTING UPDATED: 01/20/2026 05:45 PM

Property Details for 501 Southwest 3rd Street

StatusActive
MLS #4268695
Days on Market90
Taxes$5,424 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other / Multi Family 5+
Year Built1954
Lot Size0.13 AC / 5,760 SF
CountyMercer County

Location

Listing Courtesy of eXp Realty
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Building Information for 501 Southwest 3rd Street

Stories2Residences5Year Built1954Building Size-Lot Size0.13 AC / 5,760 SF

Payment Calculator

$1,475 per month

30 year fixed, 6.15% Interest

Principal and Interest

$1,023

Property Taxes

$452

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 501 Southwest 3rd Street

General Information
Location and General Information
  • Frontage Type: Paved
  • Geographic Locale: Central Illinois
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Separate Meters
  • # Of Washers: 0
  • Heat/Ventilation: Other
  • # Of Window/Ac: 0
  • # Of Refrigerators: 3
  • # Of Dryers: 0
  • # Of Dishwashers: 0
  • Num of Baths: 0.0
Property/Lot Information
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Dimensions: 96x60
  • Stories: 2
  • Construction: Vinyl Siding
  • Building Area Total: 3420
  • # Of Ranges: 3
Property and Assessments
  • Buyer Financing: Cash, Conventional
  • Documents Available: Legal-Description
  • Public Document Count: 2
  • Property Offered: For Sale Only
  • Photos Count: 27
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $28,980.00
  • Gross Scheduled Income: $28,980.00
  • Insurance Expense: $.00
  • Maintenance Expense: $.00
  • Janitor Expense: 0
  • Annual Misc Income: 0
  • Total Monthly Income: 0
  • Net Operating Income: $18,706.00
  • Operating Expense: $4,850.00
  • Trash Expense: $300.00
  • Water Sewer Expense: $1,350.00

Property History for 501 Southwest 3rd Street

DateEvent & SourcePriceAppreciation
Dec 17, 2025

Price Change

MRED #4268695

$209,900—
Oct 24, 2025

Listed (Active)

MRED #4268695

$213,000—
Oct 23, 2025

Withdrawn

RMLS ALLIANCE #QC4268695

$209,900—
Oct 1, 2014

Sold

RMLS ALLIANCE #QC4152741

$140,000—
Sep 15, 2014

Pending

RMLS ALLIANCE #QC4152741

—
Jun 17, 2014

Listed (Active)

RMLS ALLIANCE #QC4152741

$149,900—
DateEvent & SourcePrice
12/17/2025

Price Change

MRED #4268695

$209,900
10/24/2025

Listed (Active)

MRED #4268695

$213,000
10/23/2025

Withdrawn

RMLS ALLIANCE #QC4268695

$209,900
10/01/2014

Sold

RMLS ALLIANCE #QC4152741

$140,000
09/15/2014

Pending

RMLS ALLIANCE #QC4152741

—
06/17/2014

Listed (Active)

RMLS ALLIANCE #QC4152741

$149,900

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

Public Records for 501 Southwest 3rd Street

Taxable ValueLand$4,605Additions$57,555Total$62,160
Tax Record2024$5,424 ($452 / month)
Home Facts
Lot Size5,760 SqFtStyleMiscellaneous CommercialCountyMERCERAPN101017356017

Schools near 501 Southwest 3rd Street

This home is within Mercer County School District 404.
Rating
School
Type
Grades
Distance
Apollo Elementary School
Public - K to 5
Mercer County Jr High School
Public - 6 to 8
Mercer County High School
Public - 9 to 12
New Boston Elementary School
Public - K to 5
Rating
School
Distance
Apollo Elementary School
PublicK to 5

Mercer County Jr High School
Public6 to 8

Mercer County High School
Public9 to 12

New Boston Elementary School
PublicK to 5

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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More information about 501 Southwest 3rd Street, Aledo, IL 61231

501 Southwest 3rd Street is a multi-family home for sale in Aledo, IL 61231. This property was listed for sale on October 24, 2025 by eXp Realty, it's currently listed at $209,900. It has been on the market for a total of 90 days and was last sold on October 1, 2014. This listing's school district is Mercer County School District 404. Nearby schools include Apollo Elementary School, Mercer County Jr High School and Mercer County High School. 501 Southwest 3rd Street is a 0-bed, 0-bath, multi-family home built in 1954.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of eXp Realty

Based on information from one of the following Multiple Listing Services: RMLS Alliance. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by RMLS Alliance is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.