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$720,000
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Property Description
Turnkey 11-Unit Investment Opportunity - Prime Location. Rare opportunity to own three adjacent multi-family buildings (11 total units) on a single parcel in a desirable, high-demand neighborhood. Two 4-unit townhouse-style buildings with full basements. One 3-unit ranch-style building-single-level living. All units have adjacent parking for tenant convenience.Excellent rental history and long-term tenants. Major Updates Include: New boilers (2023) in one 4-family building,Commercial-grade gutters and fascia boards (2023), Updated boiler electrical system. 3-family building features electric heat-paid by tenants. Owner provides heat and water for the two 4-unit buildings. New roofs and gutters installed in 2018/2022. All buildings are located within the same complex-easy to manage with no travel between units. Strong cash flow and income potential of up to $165,000/year make this a prime investment opportunity. 531 Pearl Avenue and 535 Pearl Avenue to be sold as a package deal.
Full Property Details
Full Property Details for 535 Pearl Ave
General
- Sold For: $720,000
- Taxes: $12,623 (2024)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12360597
- Added to Site: 253 day(s) ago
Location
- Area: Loves Park
- County: Winnebago
- Driving Directions: East Riverside Street to Pearl Ave
Heating & Cooling
- Heating Type: Electric, Hot Water
Structural Information
- Stories/Levels: 2
- Year Built: 1967
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 50 x 180.2 x 50 x 180.2
Financial Considerations
- Assessment Year: 1967
- Tax Amount: $12,623
- Tax Year: 2024
Disclosures and Reports
- Property ID: 1207105008
Listed by Gambino Realtors Home Builders
Sold by Realty One Group Excel
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Schools
Schools serving 535 Pearl Ave
School District:Harlem Unit School District 122
| Name | Grades | Distance |
|---|---|---|
Loves Park Elementary School 344 Grand Avenue, Loves Park, IL 61111 | 1-6 | 0.5 mi |
Harlem Middle School 735 Windsor Road, Loves Park, IL 61111 | 7-8 | 1.2 mi |
Harlem High School 9229 North Alpine Road, Machesney Park, IL 61115 | 9-12 | 3.8 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 535 Pearl Ave
Date
Details
Price
Change
Source
7/31/2025
Sold
$720,000
-16.28%
MLS
5/16/2025
Price Reduced
$860,000
-9.47%
MLS
5/08/2025
Listed
$950,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
535 Pearl Avenue, Loves Park, IL 61111 (MLS# 12360597) is a Commercial property that was sold at $720,000 on July 31, 2025. Want to learn more about 535 Pearl Avenue? Do you have questions about finding other Commercial real estate for sale in Loves Park? You can browse all Loves Park real estate or contact a Coldwell Banker agent to request more information.

