1231 N Galena Ave.

Showings: Thursday, March 24th, 11 AM - 1 PM only. eXp Commercial is proud to present to market 1231 N Galena Ave, a renovated 21-unit multifamily property in Dixon, IL the County Seat of Lee County. Dixon is a regional employment hub and is part of two fast-growing distribution and warehousing and food processing districts. The property is a free-standing two-story brick, block, flexicore multifamily property consisting of 1 large studio, 10 one-bedroom one-bath units, 8 two-bedroom one-bath units, 1 two-bedroom two-bath unit with an in-unit washer/dryer, and 1 three-bedroom two-bath unit with an in-unit washer/dryer. 12 of 21 Units tenants pay their own heat and electricity, the remainder could be converted in the future. All but four units have been renovated. Further upside will be realized upon current tenant renewals continuing to push market rents as well as the completion of the cost-effective renovation of the four units occupied by longer-term tenants. The roof was replaced in 2019 and the property is in good condition. In addition to two units with in-unit washers and dryers, there is a laundry room currently utilized for landlord storage and staging for the unit renovations that could be re-equipped with coin-operated washers and dryers for additional income and amenities for tenants. The property is ideally situated on the Northside of Dixon, IL off of the main thoroughfare Hwy 52 (Galena Ave) conveniently located near major shopping and dining. Dixon is approximately 65 miles NE of Davenport, IA, and 95 miles West of downtown Chicago. Major employers in the area include KSB Hospital with a recently completed $16M expansion employing over 1,000 people.