501 SW 3rd St

Aledo, IL 61231

$189,500
Price
—
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Get preapproved with Rocket Mortgage1

Description

Well-maintained 5-unit apartment building located within walking distance to schools, parks, churches, the YMCA, historic downtown Aledo, restaurants, shopping, and a movie theater. This property offers a strong investment opportunity with multiple unit types and a convenient in-town location. The building consists of five units, including one efficiency apartment (formerly office space) located at the front of the building, two 2-bedroom units on the main level, and two 1-bedroom units on the upper...Well-maintained 5-unit apartment building located within walking distance to schools, parks, churches, the YMCA, historic downtown Aledo, restaurants, shopping, and a movie theater. This property offers a strong investment opportunity with multiple unit types and a convenient in-town location. The building consists of five units, including one efficiency apartment (formerly office space) located at the front of the building, two 2-bedroom units on the main level, and two 1-bedroom units on the upper level. The three main-level units offer accessibility-friendly features. Recent updates include windows, flooring, insulation, appliances, downspouts, and heating systems, contributing to the overall maintenance and functionality of the property. At the time of listing, four units are tenant-occupied with established tenancy ranging from approximately 2 to 13 years. The efficiency unit is currently vacant, offering an opportunity for additional rental income. Buyer will assume existing leases.
  1. Listed by Starr Fell • eXp Realty
    P: (309)-582-6425 C: (309)-582-6425 starrfell13@gmail.com
  2. Listed by Zach Frick • eXp Realty
    P: (309)-738-8708 C: (309)-738-8708 zfrick4518@gmail.com

Property Details for 501 Southwest 3rd Street

Area
Aledo
Township
Aledo
Ownership
Fee Simple
Num Of Parking Spaces
6.0
Parking Included in Price
Yes
Heat/Fuel
Baseboard
LISTING UPDATED: 04/29/2026 11:01 AM

Property Details for 501 Southwest 3rd Street

StatusNew
MLS #12629533
Days on Market5
Taxes$5,424 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeTwo to Four Units / Two to Four Units-Other / Two to Four Units
Year Built1954
Lot Size0.13 AC / 5,662 SF
CountyMercer County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of eXp Realty
Add your commute

Building Information for 501 Southwest 3rd Street

Stories-Residences4Year Built1954Building Size-Lot Size0.13 AC / 5,662 SF

Payment Calculator

Get preapproved with Rocket Mortgage1

$1,406 per month

30 year fixed, 6.46% Interest

Principal and Interest

$954

Property Taxes

$452

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 501 Southwest 3rd Street

General Information
School Information
  • Elementary School District: 404
  • Elementary School: Apollo Elementary School
  • Jr High Middle School: Mercer County Junior High School
  • High School District: 404
  • High School: Mercer County High School
  • Middle Or Junior School District: 404
Addtl Parking Information
  • Parking Details: Off Street, Yes, Owned
Property Information
Interior Features
  • Bedrooms (Below Grade): 0
  • Community Features: Curbs, Sidewalks, Street Lights, Street Paved
  • Basement Type: None
  • Basement Bathrooms: No
  • # Full Baths in Building: 5
  • # Half Baths in Building: 0
  • Num of Baths: 5.0
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Public
  • Other Equipment: Ceiling Fan(s), Multiple Water Heaters
Property/Lot Information
  • Exterior Property Features: Lighting
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: No
  • Built Before 1978: Yes
  • Age: 71-80 Years
  • Lot Description: Corner Lot, Level
  • Lot Size: Less Than .25 Acre
  • Lot Size Source: County Records
  • Lot Dimensions: 96x60
  • Total # Units in Building: 4.0
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding
  • Construction: Vinyl Siding
  • Roof Type: Asphalt
  • General Information: School Bus Service
  • 3 Br Un In Bldg: No
Property and Assessments
  • Public Document Count: 2
  • Document Date: 2026-04-29T15:59:48
  • Photos Count: 27
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Unit 1
  • Unit Type Actual Rent: $550.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Lease Expiration Date: N/A
Unit 2
  • Unit Type Actual Rent: $550.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: N/A
Unit 3
  • Unit Type Actual Rent: $550.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Lease Expiration Date: N/A
Unit 4
  • Unit Type Actual Rent: $475.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
  • Lease Expiration Date: N/A

Property History for 501 Southwest 3rd Street

DateEvent & SourcePriceAppreciation
Apr 25, 2026

Listed (Active)

MRED #12629533

$189,500—
Apr 24, 2026

Expired

MRED #4268695

$189,500—
Dec 21, 2025

Temporarily Off Market

MRED #4268695

—
DateEvent & SourcePrice
04/25/2026

Listed (Active)

MRED #12629533

$189,500
04/24/2026

Expired

MRED #4268695

$189,500
12/21/2025

Temporarily Off Market

MRED #4268695

—

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.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

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 April 25, 2026 by eXp Realty, it's currently listed at $189,500. It has been on the market for a total of 5 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, 5-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.