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$389,000 Sale Pending
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Property Description
Attention Investors, What An Amazing Opportunity! 13 Units Total. 4 one story Duplex's with 8 units, 2 two story apartments with 2 units each, plus one single family 2 bedroom home. Here is your chance to purchase 13, 2- bedroom units, all with a great rental history for one price. Priced at less than $30k per unit or less than $41 per sq ft. Each unit rents for $600 at this time and the property has 100% occupancy. 331 W. Main is 2 two story buildings each with 2, all electric apartments. each apartment is 858 sq ft with 2 bedrooms. The living and dining area are open and spacious and have galley kitchens. Each apartment has electric forced air heat and Central Air. 329 & 403 W. Main each having 2 ground level duplex apartment buildings. Each of the 617 Sq Ft 2 Bedroom apartments has a great layout. Each unit has electric baseboard heat and wall air units. The apartment area has a courtyard, sidewalks, off street parking, & bike rack. To be closer to your unit on street parking is also welcome. The 2- bedroom, 1 bath home on the east side is also included in the sale. The 1182 sq ft home has forced air heat and central air conditioning. The home needs a little TLC but seems to be solid and is rented. The tenant in the home pays their own utilities and each tenant in each all-electric duplex pays for their own electricity. This is an excellent investment opportunity for the landlord wanting to add to their portfolio or the investor just wanting to get started.
Full Property Details
Full Property Details for 331 W Main St
General
- Price: $389,000
- Taxes: $10,704 (2024)
- Status: Pending
- Type: Commercial
- Source: MRED
- MLS ID: 100000329
- Updated: 2/5/2026
- Added to Site: 40 day(s) ago
Interior
- Flooring: Carpet, Vinyl
Additional Information
- Security/Safety: Smoke or Fire Protectors
Location
- Area: Olney
- County: Richland
- Driving Directions: West Main Street In Olney to 331, 329, 319, 403 W Main
- Location Details: Central Illinois
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Electric, Forced Air, Gas, Baseboard, Individual Furnaces
Utilities
- Trash: 7200
Structural Information
- Sub-Flooring: Carpet, Vinyl
- Stories/Levels: 2
- # of Stores: 2
- Year Built: 1974
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 13
- Units w/Range/Oven: 13
Lot Features
- Lot Size (Acres): 0.91
- Lot Size (Sq. Ft.): 39,372
- Lot Dimensions: 193 204
Financial Considerations
- Insurance Fee: $9,603
- Security Deposit: Smoke or Fire Protectors
- Assessment Year: 1974
- Tax Amount: $10,704.56
- Tax Year: 2024
- Tenant Pays: Electricity
- Pays Trash: 7200
Disclosures and Reports
- Property ID: 1103104002
Listed by Wiley Realty Group
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Schools
Schools serving 331 W Main St
School District:Richland Community Unit School District 1
| Name | Grades | Distance |
|---|---|---|
East Richland Elementary School 1001 North Holly Road, Olney, IL 62450 | PK-5 | 1.7 mi |
East Richland Middle School 1099 North Van Street, Olney, IL 62450 | 6-8 | 1.3 mi |
East Richland High School 1200 East Laurel Street, Olney, IL 62450 | 9-12 | 0.9 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 331 W Main St
Date
Details
Price
Change
Source
1/06/2026
Listed
$389,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 331 W Main St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,461
5%
$45,582
8%
2023
$3,284
5%
$42,206
8%
2022
$3,135
—
$39,079
5%
2021
$3,144
1%
$37,218
2%
2020
$3,113
-1%
$36,488
—
2019
$3,143
1%
$36,488
—
2018
$3,097
2%
$36,488
1%
2017
$3,048
4%
$36,126
5%
2016
$2,939
3%
$34,405
4%
2015
$2,852
—
$33,082
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 331 W Main St
331 W Main Street, Olney, IL 62450 (MLS# 100000329) is a Commercial property. 331 W Main Street is currently listed for $389,000 and was received on January 06, 2026. Want to learn more about 331 W Main Street? Do you have questions about finding other Commercial real estate for sale in Olney? You can browse all Olney real estate or contact a Coldwell Banker agent to request more information.
