Investment Opportunity – Historic Mixed-Use Building in the Heart of Canton 104 E Chestnut Street, Canton, IL 61520 CAN BE SOLD IN LARGER PORTFOLIO SALE (Reach out for more information) - Other Properties Listed at bottom of description. Step into a cash-flowing, value-add opportunity right in downtown Canton. This beautiful old brick building offers a rare mix of main-floor retail and three 2-bedroom apartments upstairs, with historic character, solid bones, and clear upside for the next owner. The main-floor retail space (currently Canton Used Furniture Store) is approx. 4,075 SF with two gas ceiling units and central air – a flexible layout for a variety of commercial uses. Current tenant is 'Canton Used Furniture Store'. The second floor is approx. 3,510 SF and includes three 2 bed / 1 bath apartments with electric baseboard heat and window A/C units. Recent work includes tuck-pointing (2011), added structural support to the rear staircase, roof edge sealing, new flooring and fresh drywall/paint in the common hallway, new flooring and kitchen cabinets in Apt 3, and various plumbing updates. Tenants pay their own gas and electric, while the landlord covers water and trash, keeping operating expenses straightforward. Current Rent (75% occupied): $2,350 (100% occupied = $3,150) Financial Snapshot (R-12, Nov ’24–Oct ’25): Current Gross Rent: $28,200 Current NOI: $17,713 Current Cap Rate: 7.3% (Current Occupancy) / 11.1% (100% Occupancy) Pro-Forma Gross Rent (Fully Stabilized): $40,200 Pro-Forma NOI: $29,713 Pro-Forma Cap Rate: 12.1% There’s additional upside through light cosmetic upgrades (flooring and paint in apts as tenants turn, improved common-area lighting, repainting/repairing the rear stairway, minor retail refresh) and the potential to install a coin-op laundry at the base of the stairs for extra income and stronger tenant demand. Whether you’re looking to add a solid performer to your portfolio or step into your first small-town mixed-use investment, this property delivers cash flow on day one with clear room to grow. Schedule a showing today and see how far your dollars can go at 104 E Chestnut Street. OTHER PROPERTIES IN PORTFOLIO SALE: 104 E Chestnut Street, Canton, IL, 61520 117 N Broadway, Havana, IL, 62644 115 E Market St, Havana, IL, 62644 410 E Euclid Avenue, Lewistown, IL, 61542 727 E Chestnut St, Canton, IL, 61520 804 S Main St, Canton, IL, 61520 366 Thompson Ct, Canton, IL, 61520 940 E Ash St, Canton, IL, 61520 2809 Hoover Avenue, Springfield, IL 62703 123 E Center Street, LeRoy, IL 61752
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
