603 N Prospect St

Cambridge, IL 61238

$1,999,999
Price
18
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
a front view of a house with a garden
a living room with furniture and a large window
a living room with furniture and a window
a view of workspace with lounge chair
a kitchen with a sink and a window
a utility room with cabinets washer and dryer
a kitchen with a stove and a sink
a view of a garden from a window

Description

This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 41 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities....This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 41 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.
  1. Listed by Lori Bonarek • Lori Bonarek Realty
    P: (815)-325-4760 C: (815)-325-4760 loribonarek@loribonarekrealty.com
  2. Listed by Jennifer Phillips • Lori Bonarek Realty
    P: (815)-530-2711 C: (815)-530-2711 jen@loribonarekrealty.com

Property Details for 603 North Prospect Street

Area
Out of Area West
Township
Western
Zoning
MULTI
LISTING UPDATED: 01/25/2026 12:07 AM

Property Details for 603 North Prospect Street

StatusActive
MLS #12393172
Days on Market229
Taxes$11,505 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance / Multi Family 5+
Year Built-
Lot Size1.06 AC / 46,174 SF
CountyHenry County

Location

Listing Courtesy of Lori Bonarek Realty
Add your commute

Building Information for 603 North Prospect Street

Stories1Residences40Year Built-Building Size-Lot Size1.06 AC / 46,174 SF

Payment Calculator

$10,706 per month

30 year fixed, 6.15% Interest

Principal and Interest

$9,748

Property Taxes

$959

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 603 North Prospect Street

General Information
Location and General Information
  • Frontage Type: City Street
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 40.0
Property/Lot Information
  • Owners Association: No
  • Built Before 1978: No
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Corridor-Exterior Entrance,Senior
  • Lot Size Source: County Records
  • Lot Dimensions: 152 X 304
  • Lot Size Square Feet: 46174.0
  • Stories: 1
  • Construction: Vinyl Siding
  • Roof Type: Composition
  • Roof Structure: Pitched
  • MRD_UNC: No
Property and Assessments
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 1
  • Document Date: 2025-06-16T20:15:26
  • Photos Count: 8
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Sidewalks
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 40
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Maintenance Expense: $.00
  • Janitor Expense: 0
  • Total Monthly Income: 0
  • Net Operating Income: $.00
  • Operating Expense: $.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 24
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 10
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 4
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 2
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 603 North Prospect Street

DateEvent & SourcePriceAppreciation
Jan 19, 2026

Price Change

MRED #12393172

$1,999,999—
Jun 16, 2025

Listed (Active)

MRED #12393172

$2,200,000—
Sep 15, 2021

Sold (Public Record)

Public Record #1472309440

$1,500,000—
Sep 30, 2003

Expired

RMLS ALLIANCE #QC4054797

$575,000—
Mar 10, 2003

Listed (Active)

RMLS ALLIANCE #QC4054797

$575,000—
DateEvent & SourcePrice
01/19/2026

Price Change

MRED #12393172

$1,999,999
06/16/2025

Listed (Active)

MRED #12393172

$2,200,000
09/15/2021

Sold (Public Record)

Public Record #1472309440

$1,500,000
09/30/2003

Expired

RMLS ALLIANCE #QC4054797

$575,000
03/10/2003

Listed (Active)

RMLS ALLIANCE #QC4054797

$575,000

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

Public Records for 603 North Prospect Street

Taxable ValueLand$6,038Additions$123,722Total$129,760
Home Facts
Lot Size46,174 SqFtStyleMulti-Family Res (5+ Units)CountyHENRYAPN18-07-202-012

Schools near 603 North Prospect Street

This home is within Cambridge Community Unit School District 227.
Rating
School
Type
Grades
Distance
Cambridge Community Grade School
Public - PK to 5
Cambridge Jr/Sr High School
Public - 6 to 12
Rating
School
Distance
Cambridge Community Grade School
PublicPK to 5

Cambridge Jr/Sr High School
Public6 to 12

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 603 North Prospect Street, Cambridge, IL 61238

603 North Prospect Street is a multi-family home for sale in Cambridge, IL 61238. This property was listed for sale on June 16, 2025 by Lori Bonarek Realty, it's currently listed at $1,999,999. It has been on the market for a total of 229 days and was last sold on September 15, 2021. This listing's school district is Cambridge Community Unit School District 227. Nearby schools include Cambridge Community Grade School and Cambridge Jr/Sr High School. 603 North Prospect Street is a 18-bed, 40-bath, multi-family home.

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 Lori Bonarek Realty

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