Sold
Last Sold Price
501 SW 3rd St, Aledo, IL 61231
Multi FamilyProperty Type
0.13 acresLot Size
1954Year Built
6 carsParking Spaces

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.

    Sold By eXp Realty

    • Listed by: Starr Fell 309.582.6425 starrfell13@gmail.com • eXp Realty
    • Listed by: Zach Frick 309.738.8708 zfrick4518@gmail.com • eXp Realty
    Listing closed: 08/18/2026 12:00 AM • Source: MRED as distributed by MLS GRID, MLS#: 12629533

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    $1,338 per month

    30 year fixed, 7.03% Interest

    Principal and Interest

    $843

    Property Taxes

    $494

    HOA Dues

    $0

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    Property Information for 501 Southwest 3rd Street

    Property Details
    • Taxes: $5,931 / year
    • MLS Type: Two to Four Units / Two to Four Units-Other / Two to Four Units
    • Area: Aledo
    • Township: Aledo
    • Ownership: Fee Simple
    • Parking Included in Price: Yes
    • Heat/Fuel: Baseboard
    Building Information
    • Residences: 4
    • Year Built: 1954
    • Lot Size: 0.13 AC / 5,662 SF
    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
    Aug 18, 2026

    Sold

    MRED #12629533

    $158,000—
    Jul 18, 2026

    Pending

    MRED #12629533

    —
    Jun 24, 2026

    Price Change

    MRED #12629533

    $179,500—
    DateEvent & SourcePrice
    08/18/2026

    Sold

    MRED #12629533

    $158,000
    07/18/2026

    Pending

    MRED #12629533

    —
    06/24/2026

    Price Change

    MRED #12629533

    $179,500

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

    Public Records for 501 Southwest 3rd Street

    Taxable ValueLand$4,970Additions$62,100Total$67,070
    Tax Record2025$5,931 ($494 / 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
    Public - K to 5
    Public - 6 to 8
    Public - 9 to 12
    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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    No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim 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 seller's discretion. 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.