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$230,000

  • For Sale
  • Active
  • Multi-Family
  • 5 Total Beds
  • 3 Car Garage
  • Updated 4 days ago

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Business owner retiring-offering a rare commercial real estate investment opportunity to reimagine this well-maintained, income-producing property for your next venture or portfolio expansion. Currently operating as a long-standing daycare and preschool, this versatile mixed-use property is primed for transformation with multiple high-value exit strategies. Ideally positioned for commercial mixed-use zoning potential, continue operating a business while incorporating comfortable residential living quarters. Investors will appreciate the ability to convert into a multi-unit income property, with potential for 2-3 rental units utilizing the existing footprint, strategic bathroom enhancements, an existing 2nd-floor apartment, and an exterior-access finished basement-ideal for separate tenant entry and rental flexibility. Alternatively, reimagine the property as a multi-family investment property or fully deconvert into a spacious single-family home, perfectly suited for multi-generational living with defined separation, privacy, and flexible floorplan options to accommodate extended family or dual living needs. Set on two village lots, the property features a fenced yard, a blacktop half basketball court, and ample outdoor space for expansion, recreation, or value-add improvements. The oversized barn/garage offers exceptional storage, workshop, or contractor space, complemented by an attached one-car garage currently utilized by the tenant. Meticulously maintained with consistent interior updates since 1992, this is a rare opportunity for investors, developers, or owner-occupants to secure a flexible, high-potential property with strong income-producing capability, redevelopment upside, and long-term ROI potential.

Full Property Details for 250 Peru St

General

  • Price: $230,000
  • Taxes: $6,003 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12618041

Rental Information

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

Interior

  • Basement: Finished, E

Rooms

Bathrooms

  • Total Bathrooms: 5
  • Upper - Full Baths: 1

Bedrooms

  • Total Bedrooms: 5

Additional Information

  • Equipment: Carbon Monoxide Detectors, Multiple Water Heaters

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Spaces: 3
  • Total Spaces: 7
  • Parking Features: Garage, Yes, Garage Owned, Attached, Detached, Off-Alley, Off-Street, Driveway, Garage Faces Side, Owned

Location

  • Area: Paw Paw
  • County: Lee
  • Township: Wyoming
  • Driving Directions: Chicago Rd to Peru St south

School Information

  • School District: 271
  • Elem School District: 271
  • Midd School District: 271
  • High School District: 145
  • Elementary School: Paw Paw Elementary School
  • Middle School: Paw Paw Jr/Sr High School
  • High School: Indian Creek Middle School
  • Private School: Indian Creek Middle School

Heating & Cooling

  • Heating Type: Natural Gas, Forced Air

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Architectural Info: Farmhouse, Traditional
  • Architectural Style: Farmhouse, Traditional
  • Construction: Frame
  • Exterior Const.: Frame
  • Basement: Yes
  • Basement Desc.: Finished, Exterior Entry, Other, Egress Window, Daylight, Full
  • Foundation: Block, Concrete Perimeter
  • Roof: Asphalt
  • Windows: Screens
  • Year Built: 1891
  • Built Before 1978: Yes
  • Remodeled/Updated: 1992

Unit Information

  • Units in Building: 2

Additional Structures

  • Other Structures: Second Garage

Lot Features

  • Lot Size Range: .25 to .49 Acre
  • Lot Dimensions: 84 x 226 x 100 x 62 x 64 x 99
  • Fence: Yes
  • Lot Features: Irregular Lot
  • Zoning: OTHER
  • Fencing (Description): Fenced, Wood

Financial Considerations

  • Parking Included: Yes
  • Assessment Year: 1891
  • Tax Amount: $6,003.52
  • Tax Year: 2025
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 22181047602500

Listed by Swanson Real Estate

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— 250 Peru St —

  • Swanson Real Estate

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NMLS#: 1598647

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NMLS#: 1598647

Get Pre-Approved

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with our affiliated in-house agency

Request a Quote

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

Schools serving 250 Peru St

School District:Lee Center Community Unit School District 271
NameGradesDistance
Paw Paw Elementary School
PO Box 37, Paw Paw, IL 61353
K-50.3 mi
Paw Paw Junior High School
PO Box 37, Paw Paw, IL 61353
6-80.3 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 for 250 Peru St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$4,511
42%
$57,215
18%
2021
$3,173
—
$48,488
32%
2021
$3,173
9%
$36,829
8%
2020
$2,920
2%
$34,101
3%
2019
$2,868
5%
$33,107
3%
2018
$2,721
—
$32,143
6%
2018
$2,721
7%
$30,463
3%
2017
$2,552
1%
$29,576
—
2016
$2,515
—
$29,576
—
2015
$2,525
—
$29,576
—
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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250 Peru Street, Paw Paw, IL 61353 (MLS# 12618041) is a Multi-Family property with 2 units containing 5 bedrooms and 0 full bathrooms. 250 Peru Street is currently listed for $230,000 and was received on May 07, 2026. Want to learn more about 250 Peru Street? Do you have questions about finding other Multi-Family real estate for sale in Paw Paw? You can browse all Paw Paw real estate or contact a Coldwell Banker agent to request more information.

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