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Two to Four Units · Aledo, IL
$189,500
beds · 5 baths
501 SW 3rd Street, Aledo, IL, 61231
A brick-and-mortar place to make your own — room to make it home.
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What’s special

Well-maintained 5-unit apartment building located within walking distance to schools, parks, churches, the YMCA, historic downtown Aledo, restaurants, shopping, and a movie theater. This property offers a strong investment opportunity with multiple unit types and a convenient in-town location. The building consists of five units, including one efficiency apartment (formerly office space) located at the front of the building, two 2-bedroom units on the main level, and two 1-bedroom units on the upper level. The three main-level units offer accessibility-friendly features. Recent updates include windows, flooring, insulation, appliances, downspouts, and heating systems, contributing to the overall maintenance and functionality of the property. At the time of listing, four units are tenant-occupied with established tenancy ranging from approximately 2 to 13 years. The efficiency unit is currently vacant, offering an opportunity for additional rental income. Buyer will assume existing leases.
— the listing agent’s description

The home

5 baths
Built in 1954
0.13-acre lot
Two to Four Units

What it’ll cost

$5,931 taxes / yr
No HOA
39 days on dwello

Estimated monthly payment

$1,557/mo
Principal & interest$1,008
Property taxes$494
Homeowners insurance$55
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Tour this home

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WED
Jun 3
THU
Jun 4
FRI
Jun 5
SAT
Jun 6
11:00 am
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39 days on dwello
Price history
Listed for sale
Apr 25, 2026
$189,500
Earlier records
Listed
Oct 24, 2025
$189,500
From MLS records — independently verify.
Property taxes
2025
Annual tax bill (MLS)
$5,931/yr
From county records — verify with the assessor.

Features

BaseboardVinyl SidingPublic SewerOff StreetYes

Schools

Elementary — Apollo Elementary School
Middle — Mercer County Junior High School
High — Mercer County High School
Assigned schools per the listing — always verify enrollment + boundaries with the district.
Neighborhood
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Nearby places via OpenStreetMap — approximate; verify what matters to you. Map © Mapbox © OpenStreetMap.
MLS listing dataMRED
Listed by Starr Fell · eXp Realty
Listing last updated Jun 2, 2026 · data refreshed from the MLS Jun 17, 2026, 6:22 PM CT
Based on information submitted to the MLS GRID as of Jun 17, 2026, 6:22 PM CT. Listing data © MRED LLC, distributed by MLS GRID — deemed reliable but not guaranteed; independently verify. Anything shown below this point is not MLS listing data.
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