$395,000
106 W Washington Street
Details
Property Type Retail, Mixed Use
Sub Type Storefront
Square Footage 1,560
Tenancy Vacant
Year Built 1900
Stories 2
Lot Size (SqFt) 3,280
Lease Commencement 05/30/2026
Ground Lease No
Turnkey Updated Retail and Residential Rental Space
Marketing description
Step into a rare opportunity to own a beautifully restored piece of downtown Philo history. Originally built in the early 1900's, the iconic Old Lowry building has been completely rehabbed and thoughtfully reimagined, blending timeless character with modern functionality. The main level currently operates as a stylish and welcoming salon, featuring a seamless combination of hair services, retail space, and a private med spa. Exposed brick walls add warmth and authenticity, while luxury vinyl plank flooring runs throughout for a clean, upscale finish. The layout is both practical and inviting, offering two separate guest bathrooms, a dedicated laundry area with washer, dryer, sink, and shelving, and a private treatment room ideal for med spa services. A separate section of the main floor provides its own distinct experience, complete with a reception desk, waiting area, comfortable sitting space, and a functional kitchen-perfect for client flow and business versatility. Parking is a standout feature, with ample street parking, convenient rear alley access, and a private parking spot located just outside the back door. Upstairs, a spacious three-bedroom apartment offers excellent additional income potential or owner-occupancy. The unit features new windows, generously sized rooms, and a large eat-in kitchen. Modern mechanical updates include a tankless water heater, separate furnace, and a stacked front-loading washer and dryer for added convenience. This turnkey property combines historic charm, modern upgrades, and multiple income streams-all in a prime downtown location.
Investment highlights
- Downtown Philo, IL space. Previously used as a hair studio. Ready for it's next owner.
- Upstairs is a rented three bedroom apartment for extra income. Gross rental income $4,500. Tenants on main level are vacating 6/1/26. Upstairs tenant plans to stay.
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