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$762,500

  • Sold
  • Closed
  • Commercial
See This Home
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Investment Opportunity with these well maintained multi units next to NIU campus. 2 units that must be sold together, under one parcel. 501: 6 unit with laundry and parking. 503: recently rehabbed, 3 unit with laundry and parking. Tenants pay all utilities, owner pays landscaping and snow removal. Both units are fully occupies and rarely have turnover. Owner has another unit he would consider selling. Turn Key Opportunity, buildings are already managed by local management company.

Full Property Details for 501 College Ave

General

  • Sold For: $762,500
  • Taxes: $9,041 (2023)
  • Status: Closed
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12190636
  • Added to Site: 454 day(s) ago

Location

  • Area: De Kalb
  • County: DeKalb
  • Driving Directions: 1st Street to Locust to College to units

Heating & Cooling

  • Heating Type: Electric, Forced Air, Gas

Structural Information

  • Stories/Levels: 3
  • Year Built: 1900
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 9
  • Units w/Range/Oven: 9

Lot Features

  • Lot Dimensions: 60 x 89C x 124.40 x 7 x 40+ x 53.30 x 186
  • Zoning: MULTI

Financial Considerations

  • Operating Expenses: $23,080
  • Assessment Year: 1900
  • Tax Amount: $9,041
  • Tax Year: 2023

Disclosures and Reports

  • Property ID: 822230026

Listed by Weichert REALTORS Signature Professionals
Sold by American Realty Illinois LLC

Listing agent

— 501 College Ave —

  • Weichert REALTORS Signature Professionals

Get Pre-Approved Today

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with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 501 College Ave

School District:Dekalb Community Unit School District 428
NameGradesDistance
Littlejohn Elementary School
1121 School Street, DeKalb, IL 60115
K-51.1 mi
Clinton Rosette Middle School
650 North 1st Street, DeKalb, IL 60115
6-80.6 mi
De Kalb High School
501 West Dresser Road, DeKalb, IL 60115
9-121.4 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 501 College Ave

Date
Details
Price
Change
Source
10/22/2025
Sold
$762,500
-10.29%
MLS
7/30/2025
Price Reduced
$849,999
-5.56%
MLS
5/05/2025
Price Reduced
$899,999
-3.74%
MLS
10/18/2024
Listed
$935,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Weichert REALTORS Signature Professionals
Sold by American Realty Illinois LLC

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501 College Avenue, Dekalb, IL 60115 (MLS# 12190636) is a Commercial property that was sold at $762,500 on October 22, 2025. Want to learn more about 501 College Avenue? Do you have questions about finding other Commercial real estate for sale in Dekalb? You can browse all Dekalb real estate or contact a Coldwell Banker agent to request more information.