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$179,500

  • For Sale
  • Active
  • Multi-Family
See This Home
Save This Home
See This Home
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Well-maintained 5-unit apartment building located within walking distance to schools, parks, churches, the YMCA, historic downtown Aledo, restaurants, shopping, and a movie theater. This property offers a strong investment opportunity with multiple unit types and a convenient in-town location. The building consists of five units, including one efficiency apartment (formerly office space) located at the front of the building, two 2-bedroom units on the main level, and two 1-bedroom units on the upper level. The three main-level units offer accessibility-friendly features. Recent updates include windows, flooring, insulation, appliances, downspouts, and heating systems, contributing to the overall maintenance and functionality of the property. At the time of listing, four units are tenant-occupied with established tenancy ranging from approximately 2 to 13 years. The efficiency unit is currently vacant, offering an opportunity for additional rental income. Buyer will assume existing leases.

Full Property Details for 501 SW 3rd St

General

  • Price: $179,500
  • Taxes: $5,931 (2024)
  • Status: Active
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12629533
  • Updated: 6/30/2026
  • Added to Site: 80 day(s) ago

Rental Information

  • Complex Features: Curbs, Sidewalks, Street Lights, Street Paved

Interior

  • Basement: None

Rooms

Bathrooms

  • Total Bathrooms: 5
  • Upper - Full Baths: 5

Additional Information

  • Equipment: Ceiling Fan(s), Multiple Water Heaters
  • Other Features: School Bus Service

Exterior

  • Exterior Features: Lighting

Parking

  • Total Spaces: 6
  • Parking Features: Off-Street, Yes, Owned

Location

  • Area: Aledo
  • County: Mercer
  • Township: Aledo
  • Driving Directions: From Hwy 67, Turn West onto Hwy 17, Property is on the North side of the road between SW 5th Ave & SW 6th Ave

School Information

  • School District: 404
  • Elem School District: 404
  • Midd School District: 404
  • High School District: 404
  • Elementary School: Apollo Elementary School
  • Middle School: Mercer County Junior High School
  • High School: Mercer County High School
  • Private School: Mercer County High School

Heating & Cooling

  • Heating Type: Baseboard

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Vinyl Siding
  • Exterior Const.: Vinyl Siding
  • Basement Desc.: None
  • Roof: Asphalt
  • Year Built: 1954
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 4

Lot Features

  • Lot Size (Acres): 0.13
  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 96 x 60
  • Lot Features: Corner Lot, Level

Financial Considerations

  • Parking Included: Yes
  • Assessment Year: 1954
  • Tax Amount: $5,931
  • Tax Year: 2024
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 101017356017

Listed by eXp Realty

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Listing agents

— 501 SW 3rd St —

  • eXp Realty

  • eXp Realty

(309) 582-6425

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 501 SW 3rd St

School District:Mercer County School District 404
NameGradesDistance
Apollo Elementary School, Aledo, IL
801 Southwest 9th Street, Aledo, IL 61231
PK-40.4 mi
Mercer County Jr High School
1002 Southwest 6th Street, Aledo, IL 61231
7-80.4 mi
Mercer County High School
1500 South College Avenue, Aledo, IL 61231
9-120.8 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 501 SW 3rd St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/24/2026
Price Reduced
$179,500
-5.28%
MLS
4/25/2026
Listed
$189,500
—
MLS
Get Price Alerts and Save Property
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 for 501 SW 3rd St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,931
—
$67,070
8%
2024
$5,931
9%
$62,160
10%
2023
$5,424
8%
$56,565
1%
2022
$5,022
4%
$55,850
11%
2021
$4,808
—
$50,490
2%
2021
$4,808
-1%
$49,315
6%
2020
$4,839
4%
$46,655
-3%
2019
$4,648
5%
$47,945
6%
2017
$4,417
6%
$45,360
7%
2016
$4,158
—
$42,390
-1%
2015
$4,155
—
$42,860
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by eXp Realty

501 SW 3rd Street, Aledo, IL 61231 (MLS# 12629533) is a Multi-Family property with 4 units containing 0 bedrooms and 0 full bathrooms. 501 SW 3rd Street is currently listed for $179,500 and was received on April 25, 2026. Want to learn more about 501 SW 3rd Street? Do you have questions about finding other Multi-Family real estate for sale in Aledo? You can browse all Aledo real estate or contact a Coldwell Banker agent to request more information.

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