REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Amy Barnes • BARNES REALTY, INC.
$ 549,000
Est. payment | /mo
7 Beds
6,638 SqFt
$ 549,000
Est. payment | /mo
7 Beds
6,638 SqFt
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,638 sqft
Price per Sqft $82
Subdivision Il
MLS Listing ID 202502324
Style 2 Story
Bedrooms 7
Annual Tax Amount $4,378
Tax Year 2024
Property Sub-Type 5+ Units
Property Description
Anchoring the heart of Mt. Carroll's downtown Historic District, this impressive brick cornerstone property offers a unique blend of commercial and residential opportunities. Formerly home to the Mt. Carroll National Bank, this multi-use building features: COMMERCIAL OFFICE SPACE: Has two glass-enclosed, soundproof offices, a granite and cherry reception area, a conference space, a vault, and a 1960's Elevette three-floor elevator (currently disabled). Per Illinois state guidelines, the elevator must either be reactivated and recertified or removed within the coming years. The main floor units have separate heating and cooling systems but share natural gas and electric services. MAIN FLOOR APARTMENT (ADDED IN 2018): This well-appointed unit includes an electric fireplace, modern plumbing, all appliances, updated flooring, a gas forced-air furnace, central air, some new windows, a custom kitchen, two bedrooms, and a full bath. Currently non-conforming as a residential unit, it could alternatively be used as additional office space. The City of Mt. Carroll is reviewing ordinances related to main-level apartments in commercial districts. SECOND-FLOOR RESIDENCES (RENOVATED IN 2014): The upper level underwent complete interior renovations including all new plumbing and electrical, creating four modern apartments with separate electric services. Updates included new electrical and plumbing systems, four electric furnaces, four separate rooftop central air units, custom kitchen cabinetry with granite countertops, appliances, Pella windows with Levolor® blinds, and updated flooring and baths. A shared laundry facility serves three units, while the two-bedroom apartment has its own in-unit washer and dryer as well as a dishwasher. www.oldmarketstreetliving.com All appliances stay. The apartments are staged; no furnishings stay. Office furniture may be negotiable with a separate bill of sale. BASEMENT: The east half of the basement includes a vault and half bathroom with a rear (north) alley entrance. On the west side of the basement there is approximately 800+ sq. ft. of unfinished space with its own multiple entrances—ready for conversion into an additional commercial space or residential unit to maximize income potential. There are two entrances on the west side of the building off Main Street, plus one handicap accessible alley entrance on the north side of the building. ADDITIONAL INFORMATION: Bituminous Roof installed in 2014, and the building's water heater was new in 2024. Coded security door to second floor apartments. There is a rear fire escape. The owner is a Licensed Illinois Designated Managing Real Estate Broker and Sole Member of Old Market Street LLC, Series V. All unit square footages are estimated and deemed reliable but not guaranteed. Sale is contingent upon the seller securing housing of their choice. A signed confidentiality agreement and buyer's lender pre-approval are required prior to showing confirmation or receiving financial information. Deed restrictions apply. Party wall agreement. Utility easement. Subject to current leases. SEIZE THIS RARE OPPORTUNITY TO INVEST IN A PIECE OF MT. CARROLL'S HISTORY!
Location
State IL
County Carroll County
Area Carroll County
Rooms
Basement Full
Interior
Hot Water Natural Gas
Heating Electric, Forced Air, Natural Gas
Cooling Central Air, Window Unit
Exterior
Exterior Feature Brick/Stone
Garage Spaces 3.0
Roof Type Other
Building
Sewer City
Water City
Schools
Elementary Schools West Carroll
Middle Schools West Carroll
High Schools West Carroll
School District West Carroll
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "