501 SW 3rd St

Aledo, IL 61231

$209,900
Price
—
Beds
—
Baths
3,420 Sq. Ft.
$61 / Sq. Ft.
3,420
Sq. Ft.
$61
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
  2. Listed by Zach Frick • eXp Realty

Property Details for 501 Southwest 3rd Street

Parking Total
10.0
Subdivision Name
Willits and Thompsons
LISTING UPDATED: 12/01/2025 12:19 PM

Property Details for 501 Southwest 3rd Street

StatusActive
MLS #QC4268695
Days on Market61
Taxes$5,424 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Residential Income
Year Built1954
Lot Size0.13 AC / 5,760 SF
CountyMercer County

Location

Listing Courtesy of eXp Realty
Add your commute

Building Information for 501 Southwest 3rd Street

Stories-Residences5Year Built1954Building Size-Lot Size0.13 AC / 5,760 SF

Payment Calculator

$1,489 per month

30 year fixed, 6.28% Interest

Principal and Interest

$1,037

Property Taxes

$452

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 501 Southwest 3rd Street

Summary
Location and General Information
  • City: Aledo
  • County Or Parish: Mercer
  • Directions: From Hwy 67, Turn West onto Hwy 17, Property is on the Northside of the street between SW 5th Ave & SW 6th Ave
  • Latitude: 41.200219
  • Longitude: -90.754181
  • MLSArea Minor: QCARA Area
  • Postal Code: 61231
  • State Or Province: IL
Taxes and HOA Information
  • Parcel Number: 10-10-17-356-017
  • Tax Annual Amount: $5,424
  • Tax Legal Description: LOT 8 BLK 82 WILLITS & THOMPSONS ADDN
  • Tax Year: 2024
School Information
  • Elementary School: Apollo
  • High School: Mercer County
  • Middle Or Junior School: Mercer County Jr High
Parking
  • Parking Features: Guest, Parking Pad
Property
Lot Information
  • Structure Type: Apartment Building
  • Accessibility Features: Handicap Access
  • Building Area Total: 3420.0
  • Lot Features: Level
  • Lot Size Dimensions: 96 x 60
  • Number Of Units Total: 5
  • 100 Year Plain: No
  • Road Surface Type: Paved
Property and Assessments
  • Documents Available: Legal Description
  • Foundation Details: Slab
  • New Construction: No
  • Year Built: 1954
Utilities
  • Number Of Electric Meters: 5
  • Number Of Gas Meters: 1
  • Numberof Water Meters: 1
  • Water Sewer Expense: $1,350
  • Water Source: Public Sewer, Public
Interior and Exterior Features
Exterior Features
  • Roof: Shingle
  • Construction Materials: Vinyl Siding
Interior Features
  • Basement: None
  • Heating: Heating Systems - 2+, Electric Water Heater, Gas Water Heater, Wall Unit(s), Window Unit(s)
  • Interior Features: Cable Available, High Speed Internet
  • Laundry Features: Private, Units Hook-Ups
  • Number Of Central Air Units: 0
  • Number Of Dishwashers: 0
  • Number Of Dryers: 0
  • Number Of Heating Units: 5
  • Number Of Ranges: 3
  • Numberof Refrigerators: 3
  • Number Of Washers: 0
  • Number Of Water Heaters: 4
  • Number Of Window Units: 5
  • Operating Recording Device: None
Multi Family
Income & Expenses
  • Electric Expense: $0
  • Gross Income: $28,980
  • Gross Scheduled Income: $28,980
  • Insurance Expense: $3,200
  • Maintenance Expense: $0
  • Manager Expense: $0
  • Net Operating Income: $18,706
  • Operating Expense: $4,850
  • Advertising Expense: 0
  • Gas Expense: 0
  • Misc Annual Income: 0
  • Trash Expense: $300
Unit 1
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 2
  • Number Uncovered: 2
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
Unit 2
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 2
  • Number Uncovered: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
Unit 3
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 2
  • Number Uncovered: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
Unit 4
  • Fireplace YN: N
  • Full Baths: 1
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 2
  • Number Uncovered: 2
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
Rental
Rent Information
  • Lease Term: Month To Month
  • Tenant Pays: Electricity

Property History for 501 Southwest 3rd Street

DateEvent & SourcePriceAppreciation
Dec 21, 2025

Temporarily Off Market

MRED #4268695

—
Dec 17, 2025

Price Change

MRED #4268695

$209,900—
Oct 24, 2025

Listed (Active)

RMLS ALLIANCE #QC4268695

$213,000—
Oct 24, 2025

Listed (Active)

MRED #4268695

$213,000—
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
12/21/2025

Temporarily Off Market

MRED #4268695

—
12/17/2025

Price Change

MRED #4268695

$209,900
10/24/2025

Listed (Active)

RMLS ALLIANCE #QC4268695

$213,000
10/24/2025

Listed (Active)

MRED #4268695

$213,000
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 61 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, 3,420 sqft 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

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/24/2025 02:39 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.