www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
31418787
31418789

400 N Main Street, Princeton, IL 61356

MT
IL 475217107
Landmark Realty of Illinois LLC
MT
IL 475217107
JM
Landmark Realty of Illinois LLC
Listed by Landmark Realty of Illinois LLC
$440,000
66 days on market
Updated 18 days ago

400 N Main St. Princeton, IL 61356

Details
APN 1609364010
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,968
Net Rentable (SqFt) 7,968
Units 12
Cap Rate 15.73%
NOI $69,205
Price per SqFt $55
Year Built 1947
Year Renovated 2026
Stories 2
Lot Size (SqFt) 15,600
Zoning Residential / Commercial
Parking Spaces 12 spaces
Parking Per SqFt 1.51

Multifamily | 15.73% CAP | 12 Units

Marketing description

This well-maintained 12-unit mixed-use property presents a compelling opportunity for investors seeking immediate cash flow with additional upside potential. The asset is comprised of three residential units (two spacious two-bedroom apartments and one efficiently designed studio), alongside nine commercial spaces fronts that provide diversified income streams. Over the past several years, the building has undergone significant renovations, resulting in a turnkey investment requiring no immediate capital improvements. All units are in strong condition, allowing a new owner to step in and begin generating revenue from day one. In addition to its current income, the property features a partially finished lower level, offering clear value-add potential. Investors may explore opportunities to further develop this space into additional residential or commercial units, subject to local zoning and approvals, thereby increasing overall returns. With a balanced unit mix, recent upgrades, and future expansion potential, this property is ideally positioned for both stable cash flow and long-term appreciation.

Investment highlights

Underused 2025 rent of $40,800 allows for a start, but with pro forma annual rent of $83,400 per year,

the property stands on its own as is. However, the lower level adds opportunities to create additional

income of $29,400 making the total potential $112,800) if finished into three apartments with the same

income as the top level currently attains.

Icon
Powered by MRED
Learn More

Listing Contacts

MT
IL 475217107
Landmark Realty of Illinois LLC
MT
IL 475217107
JM
Landmark Realty of Illinois LLC
Listed by Landmark Realty of Illinois LLC

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$69,205.00
$5,767.08/mo

Valuation Metrics

0
DSCR
15.73%
Cap Rate
15.73%
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Makayla Thompson
License
475217107
Brokerage
Ladmark Realty Of Illinois LLC
Brokerage Phone
8158751221
Title
Real Estate Broker
Brokerage Address
1221 North Main Street
Name
Makayla Thompson
License
475217107
Brokerage
Landmark Realty Of Illinois LLC
Brokerage Phone
8158751221
Title
Real Estate Broker
Brokerage Address
1221 North Main Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591