Price Reduced Listing
275 E Prairie Street,Manhattan, IL 60442
Manhattan, IL 60442
Description
*** Brand NEW roof installed July 2026. All units updated too. Rarely does an opportunity like this hit the market in the heart of rapidly growing Manhattan - a solid brick, fully occupied 4-unit investment property perfectly positioned in one of Will County's most desirable suburban communities known for its top-rated schools, strong household incomes, commuter convenience, and small-town charm. This well-maintained two-story building offers an ideal unit mix with three spacious 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with most interiors thoughtfully updated and improved within the last three years to appeal to today's tenants. Investors will appreciate the simplified management structure with all-electric appliances, electric heat, and separate electric hot water heaters, along with updated windows within the last 11 years and a renovated common laundry area that adds additional tenant convenience and long-term value. The property also features abundant rear parking plus additional front parking, a major advantage for tenants seeking suburban ease and functionality. Located on a quiet residential street just moments from downtown Manhattan, local restaurants, shopping, transportation, parks, and highly regarded school districts. This property checks every box for investors seeking stable occupancy, long-term appreciation potential, and consistent suburban rental demand. Manhattan continues to attract families, commuters, and professionals looking for a quieter lifestyle with access to Chicago via Metra while enjoying the benefits of a high homeownership community with continued residential growth and limited multifamily inventory. Opportunities to acquire turnkey, income-producing brick multifamily assets in locations like this are becoming increasingly difficult to find, making this an exceptional addition for seasoned investors, 1031 exchange buyers, or those looking to break into multifamily ownership with a low-maintenance, high-demand suburban asset positioned for long-term success. The building next door at 265 is also being sold. Double your investment(s)
Details
| MLS # | 12647590 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1969 |
| Days On Site | 101 |
| Listing Provided By | Village Realty, Inc. | Anastasia Rimovsky |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 |
Interior
| Rooms Total | 15 |
|---|---|
| Heating | Electric |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Parking Features | Unassigned, Yes, Owned |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 16031.46 |
Area Information
| State | IL |
|---|---|
| County | Will |
| City | Manhattan |
| Zip Code | 60442 |
| Area | Manhattan | Wilton Center |
| Listing VS Median (in 60442) | |
Price: $625,000 low | high Med: $429,900 On site: 101 low | high Med: 18 | |
Market Activity 60442
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Learn More About This Property
| State | IL |
|---|---|
| County | Will |
| City | Manhattan |
| Zip Code | 60442 |
| Area | Manhattan | Wilton Center |
| Listing VS Median (in 60442) | |
Price: $625,000 low | high Med: $429,900 On site: 101 low | high Med: 18 | |
