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$75,000
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Property Description
Opportunity meets potential in this charming 2-bedroom, 1-bath home! Whether you're a first-time homebuyer ready to make a space your own, looking to downsize, or an investor searching for your next rental property, this home offers plenty of possibilities. The functional layout features a comfortable living area, two bedrooms, and a full basement providing additional storage and utility space. Situated on a nice-sized lot. The property does need some TLC, making it a great opportunity to add your own personal touches and build equity along the way. With a little vision and creativity, this could become a cozy primary residence or a great addition to an investment portfolio. Bring your ideas and make this one your own!
Full Property Details
Full Property Details for 314 W 2nd St
General
- Price: $75,000
- Taxes: $658 (2025)
- Status: Active
- Type: Single Family
- Source: MRED
- MLS ID: 12771668
Interior
- Basement: Unfinished
Rooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
Bedrooms
- Total Bedrooms: 2
Parking
- Total Spaces: 2
- Parking Features: Yes
Location
- Area: Gilman
- County: Iroquois
- Township: Douglas
- Driving Directions: I-57 to Gilman Exit 283 (US-24). East on US-24, north on Central St, west on 2nd St to property.
School Information
- School District: 10
- Elem School District: 10
- Midd School District: 10
- High School District: 10
Community
- Assoc. Fees Include: None
Heating & Cooling
- Cooling Type: None
- Heating Type: Natural Gas, Forced Air
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Other
- Exterior Const.: Other
- Basement: Yes
- Basement Desc.: Unfinished, Crawl Space, Partial
- Square Feet: 720
- Sq. Ft. Source: Estimated
- Built Before 1978: Yes
Lot Features
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 50 x 100
- Zoning: SINGL
Financial Considerations
- Tax Amount: $658.74
- Tax Year: 2025
- Pays Sewer: Public Sewer
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 17313560010000
Listed by RE/MAX Prestige Homes
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Schools
Schools serving 314 W 2nd St
School District:Iroquois West Community Unit School District 10
| Name | Grades | Distance |
|---|---|---|
Iroquois West Elementary School/Gilman 215 East 2nd Street, Gilman, IL 60938 | 1-3 | 0.3 mi |
Iroquois West Elementary Sch/Danforth PO Box 185, Danforth, IL 60930 | PK-K | 4 mi |
Iroquois West Elementary Sch/Thawville PO Box 99, Thawville, IL 60968 | 4-5 | 8.8 mi |
Iroquois West Middle School 303 North Evergreen Street, Onarga, IL 60955 | 6-8 | 3.5 mi |
Iroquois West High School 529 East 2nd Street, Gilman, IL 60938 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Tax History
Tax History for 314 W 2nd St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$659
—
$8,360
6%
2025
$659
13%
$7,890
6%
2023
$583
-2%
$7,460
1%
2022
$594
9%
$7,380
17%
2021
$544
-1%
$6,300
7%
2020
$549
—
$5,870
4%
2020
$549
2%
$5,670
3%
2019
$538
2%
$5,520
2%
2017
$530
—
$5,430
—
2016
$531
4%
$5,430
1%
2014
$509
—
$5,370
—
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 314 W 2nd St
314 W Second Street, Gilman, IL 60938 (MLS# 12771668) is a Single Family property with 2 bedrooms and 1 full bathroom. 314 W Second Street is currently listed for $75,000 and was received on September 28, 2026. Want to learn more about 314 W Second Street? Do you have questions about finding other Single Family real estate for sale in Gilman? You can browse all Gilman real estate or contact a Coldwell Banker agent to request more information.

