Sold
Last Sold Price
22,528 sqft
555 Roddy Rd, Salem, IL 62881
Multi FamilyProperty Type
6.3 acresLot Size
1979Year Built
$90/sq ftPrice per sq ft

Description

Very well maintained turn key operation 34 unit apartment buildings in 3 buildings. 22 (1) bedroom (1) bath units. 12 (2) bedroom (1.5) bath apartments. 12 storage units (14x22) leased out. Ample parking. A&B buildings have common areas with coin operated washer & dryers. Currently full capacity. Also included is vacant land zoned commercial for more buildings. Lots of updates including windows in 2020, metal roof in 2010. Extra income of 12 storage units and the coin operated washer & dryers in...Very well maintained turn key operation 34 unit apartment buildings in 3 buildings. 22 (1) bedroom (1) bath units. 12 (2) bedroom (1.5) bath apartments. 12 storage units (14x22) leased out. Ample parking. A&B buildings have common areas with coin operated washer & dryers. Currently full capacity. Also included is vacant land zoned commercial for more buildings. Lots of updates including windows in 2020, metal roof in 2010. Extra income of 12 storage units and the coin operated washer & dryers in the common areas.
  • Listed by: Michael Hammond 618.292.8442 mhammond@propertypeddler.com • Property Peddler Inc
Listing closed: 07/29/2024 12:00 AM • Source: RMLS ALLIANCE as distributed by MLS GRID, MLS#: EB452886

Recent comparable sales

Median sold price

$75,000

Avg days on market

55

Sale-to-list ratio

100.0%

Salem, IL

9 comparable properties found

1

$125,000

Sold 07/17/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.24
Acres
2

$10,000

Sold 01/24/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.8
Acres
3

$162,000

Sold 08/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.26
Acres
4

$192,509

Sold 04/08/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.26
Acres
5

$145,000

Sold 08/05/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.19
Acres
a view of a field with trees
1/3
6

$24,900

Sold 12/30/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.8
Acres
7

$56,000

Sold 10/23/24

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.19
Acres
8

$35,000

Sold 08/04/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.16
Acres
9

$75,000

Sold 02/28/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.16
Acres

Location

Listing Courtesy of Property Peddler Inc

Sold By Non-MLS

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$12,361 per month

30 year fixed, 6.71% Interest

Principal and Interest

$10,464

Property Taxes

$1,897

HOA Dues

$0

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Property Information for 555 Roddy Road

Property Details
  • Taxes: $22,762 / year
  • MLS Type: Residential Income / Residential Income / Multi Family 5+
  • Parking Total: 70.0
  • Subdivision Name: Lamplighter
Building Information
  • Residences: 34
  • Year Built: 1979
  • Lot Size: 6.30 AC / 274,428 SF
Summary
Location and General Information
  • City: Salem
  • County Or Parish: Marion
  • Directions: Rt 50 west of Salem IL to Mills Cart Lane to Roddy Road and turn North to property on west side.
  • Frontage Type: Paved
  • Latitude: 38.6326162380153
  • Longitude: -88.9613802883606
  • MLSArea Minor: EBOR Area
  • Postal Code: 62881
  • State Or Province: IL
  • Zoning: Multi family and commercial
Taxes and HOA Information
  • Additional Parcels Description: 11-00-026-805 11-00-022-569
  • Parcel Number: 11-00-026-800
  • Tax Annual Amount: $22,762
  • Tax Legal Description: Lamplighter Manor sub lots 1,2,10 & 11 & 3-9 Miller Roddy Sub Div W 60 ft lot 6
  • Tax Year: 2022
School Information
  • Elementary School: Salem
  • High School: Salem Community High School
  • Middle Or Junior School: Salem
Parking
  • Parking Features: On Street, Parking Pad
Property
Lot Information
  • Structure Type: Apartment Building
  • Building Area Total: 22528.0
  • Lot Features: Extra Lot, Level
  • Lot Size Acres: 6.3
  • Lot Size Dimensions: Irregular
  • Number Of Units Total: 34
  • 100 Year Plain: Unknown
  • Road Surface Type: Curbs & Gutters, Paved
Property and Assessments
  • Documents Available: Aerial Photos,Other
  • Foundation Details: Concrete, Poured Concrete
  • New Construction: No
  • Development Name: Lamplighter Manor Apartments
  • Year Built: 1979
  • Year Built Source: Public Records
Utilities
  • Electric: Separate Meters
  • Number Of Electric Meters: 34
  • Number Of Gas Meters: 0
  • Numberof Water Meters: 37
  • Water Sewer Expense: $0
  • Water Source: Public Sewer, Public
Interior and Exterior Features
Exterior Features
  • Roof: Metal
  • Construction Materials: Brick
Interior Features
  • Basement: Partial
  • Heating: Electric, Forced Air, Central Air
  • Laundry Features: Common Area
  • Number Of Central Air Units: 34
  • Number Of Dishwashers: 34
  • Number Of Heating Units: 34
  • Number Of Ranges: 34
  • Numberof Refrigerators: 34
  • Number Of Water Heaters: 34
  • Number Of Window Units: 0
  • Operating Recording Device: None
Multi Family
Income & Expenses
  • Electric Expense: $5,160
  • Gross Income: $150
  • Insurance Expense: $18,298
  • Maintenance Expense: $0
  • Manager Expense: $0
  • Net Operating Income: $-46,070
  • Operating Expense: $23,458
  • Advertising Expense: 0
  • Gas Expense: 0
  • Misc Annual Income: 150
  • Trash Expense: $0
Unit 1
  • Fireplace YN: N
  • Full Baths: 11
  • Half Baths: 6
  • Number Covered: 0
  • Number Parking: 25
  • Number Uncovered: 25
  • Unit Type Beds Total: 17
  • Unit Type Type: Unit 1
Unit 2
  • Fireplace YN: N
  • Full Baths: 11
  • Half Baths: 6
  • Number Covered: 0
  • Number Parking: 25
  • Number Uncovered: 25
  • Unit Type Beds Total: 17
  • Unit Type Type: Unit 2
Unit 3
  • Fireplace YN: N
  • Full Baths: 12
  • Half Baths: 0
  • Number Covered: 0
  • Number Parking: 25
  • Number Uncovered: 25
  • Unit Type Beds Total: 12
  • Unit Type Type: Unit 3
Rental
Rent Information
  • Lease Term: 1 Year, Month-to-Month
  • Tenant Pays: Electricity, Sewer, Water

Property History for 555 Roddy Road

DateEvent & SourcePriceAppreciation
Jul 29, 2024

Closed

MRED #452886

$2,025,000
Jul 29, 2024

Closed

RMLS ALLIANCE #EB452886

$2,025,000
Apr 15, 2024

Pending

MRED #452886

DateEvent & SourcePrice
07/29/2024

Closed

MRED #452886

$2,025,000
07/29/2024

Closed

RMLS ALLIANCE #EB452886

$2,025,000
04/15/2024

Pending

MRED #452886

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

Public Records for 555 Roddy Road

Taxable ValueLand$15,310Additions$312,190Total$327,500
Tax Record2025$22,591 ($1,883 / month)
Home Facts
Total Finished SqFt5,942 SqFtAbove Grade Finished SqFt5,942 SqFtLot Size107,236 SqFtStyleMulti-Family Res (5+ Units)Year Built1979Year Renovated1979CountyMARIONAPN1100026800

Schools near 555 Roddy Road

This home is within Salem Chsd 600 School District.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 4 to 8
Public - 9 to 12
Private - K to 8
Rating
School
Distance
Hawthorn Elementary School
PublicK to 3

Franklin Park Middle School
Public4 to 8

Salem Community High School
Public9 to 12

St Theresa Of Avila
PrivateK to 8

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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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 555 Roddy Road, Salem, IL 62881
$2,025,000
22,528
274,428
11,650
$72,000
3
960
10,125
$125,000
3
1,008
10,000
10,190
12,092

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 Property Peddler Inc

Based on information submitted to the MLS GRID as of 08/02/2024 03:01 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.