501 N THIRD AND 506 E WILSON The seller is offering both of these houses on the same lot for $140,000.00 AND $10,000.00 CASH BACK AT CLOSING TO HELP YOU BUILD A GARGAE. DON'T MISS THIS ONE. Investment Opportunity - Two Homes for One Price! Don't miss this unique opportunity to own two homes for just $140,000! Whether you're looking for an income-producing property or a flexible living arrangement, this property offers incredible potential. The front house features 3 bedrooms and 1 full bathroom, providing comfortable living space with plenty of room. The back house includes 2 bedrooms and 1 bathroom, perfect for extended family, guests, or rental income. Both homes are in very nice condition, making this a move-in ready investment with multiple possibilities: Live in one home and rent the other for extra income Create a mother-in-law or guest quarters Use as a dual rental property for strong investment potential Ideal for multi-generational living Properties with this kind of flexibility are rare. With two homes on one property, the options are endless! Schedule a showing today and explore the possibilities!
Closed
$135,000
501 3rd St, Villa Grove, IL 61956
3beds
1,408sqft
Single Family Residence
Built in 1919
7,797 Square Feet Lot
$135,600 Zestimate®
$96/sqft
$1,187 Estimated rent
Home value
$135,600
Estimated sales range
Not available
$1,187/mo
Zestimate® history
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List your homeWhat's special
Very nice conditionComfortable living space
Zillow last checked:
Listing updated:
Listed by:
Cassandra Eversole-Gunter 309-235-7719,
Heartland Real Estate of Central Illinois, Inc
Bought with:
Samantha Cary
Happ Realty
Source: MRED as distributed by MLS GRID,MLS#: 12583733
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
Rooms
- Room types: No additional rooms
Primary bedroom
- Level: Main
- Area: 169 Square Feet
- Dimensions: 13X13
Bedroom 2
- Level: Main
- Area: 180 Square Feet
- Dimensions: 12X15
Bedroom 3
- Level: Main
- Area: 150 Square Feet
- Dimensions: 15X10
Kitchen
- Features: Kitchen (Eating Area-Table Space), Flooring (Vinyl), Window Treatments (Blinds)
- Level: Main
- Area: 270 Square Feet
- Dimensions: 27X10
Laundry
- Level: Main
- Area: 15 Square Feet
- Dimensions: 5X3
Living room
- Features: Flooring (Wood Laminate), Window Treatments (Blinds)
- Level: Main
- Area: 165 Square Feet
- Dimensions: 11X15
Heating
- Natural Gas
Cooling
- Central Air
Appliances
- Included: Refrigerator, Gas Cooktop, Gas Oven
Features
- Basement: None
Interior area
- Total structure area: 1,408
- Total interior livable area: 1,408 sqft
- Finished area below ground: 0
Property
Accessibility
- Accessibility features: No Disability Access
Features
- Stories: 1
Lot
- Size: 7,797 Square Feet
- Dimensions: 50X142
Details
- Parcel number: 04030230800500
- Special conditions: None
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Vinyl Siding
Condition
- New construction: No
- Year built: 1919
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Services included: None
Location
- Region: Villa Grove
Financial & listing details
- Price per square foot: $96/sqft
- Tax assessed value: $66,069
- Annual tax amount: $1,789
- Date on market: 3/4/2026
- Listing terms: FHA
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 7/10/2026 | Sold | $135,000-3.6%$96/sqft |
Source:  MRED as distributed by MLS GRID #12583733 Report a problem | ||
| 6/8/2026 | Contingent | $140,000$99/sqft |
Source: MRED as distributed by MLS GRID #12583733 Report a problem | ||
| 3/4/2026 | Listed for sale | $140,000+64.7%$99/sqft |
Source: MRED as distributed by MLS GRID #12583733 Report a problem | ||
| 1/19/2021 | Listing removed | -- |
Source:  MRED as distributed by MLS GRID Report a problem | ||
| 9/10/2020 | Listed for sale | $85,000$60/sqft |
Source: Century 21 Heartland-Champaign #10852312 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $1,789 +6.5% | $22,023 +7.5% |
| 2023 | $1,680 +41.9% | $20,477 +42.2% |
| 2022 | $1,184 +5.9% | $14,400 +5.9% |
| 2021 | $1,118 +3% | $13,597 +4.9% |
| 2020 | $1,086 -0.8% | $12,962 |
| 2019 | $1,094 -12.7% | $12,962 -9.4% |
| 2017 | $1,253 | $14,312 |
| 2015 | $1,253 +15.6% | $14,312 +12.4% |
| 2014 | $1,084 -22.3% | $12,738 -17.5% |
| 2013 | $1,394 | $15,434 -9.1% |
| 2012 | $1,394 +1.6% | $16,976 |
| 2011 | $1,372 -1.6% | $16,976 |
| 2010 | $1,394 | $16,976 |
Find assessor info on the county website
Neighborhood: 61956
Nearby homes
- $117,0002 bd1 ba2.2k sqft503 3rd St, Villa Grove, IL 61956Off Market
- $9,9902 bd1 ba-- sqft500 E Wilson St, Villa Grove, IL 61956Off Market
- $88,0002 bd1 ba1k sqft505 3rd St, Villa Grove, IL 61956Off Market
- $112,600-- bd1 ba969 sqft504 2nd St, Villa Grove, IL 61956Off Market
- $7,452-- bd-- ba-- sqft405 3rd St, Villa Grove, IL 61956Off Market
- $135,0003 bd2 ba1k sqft404 E Wilson St, Villa Grove, IL 61956Sold
- $88,8002 bd1 ba1k sqft507 3rd St, Villa Grove, IL 61956Off Market
- $14,418-- bd-- ba-- sqft512 E Wilson St, Villa Grove, IL 61956Off Market
Nearby schools
GreatSchools rating
- 7/10Villa Grove Elementary SchoolGrades: PK-6Distance: 0.4 mi
- 6/10Villa Grove Jr High SchoolGrades: 7-8Distance: 0.4 mi
- 3/10Villa Grove High SchoolGrades: 9-12Distance: 0.4 mi
Schools provided by the listing agent
- Elementary: Villa Grove Elementary School
- Middle: Villa Grove Junior High School
- High: Villa Grove High School
- District: 302
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Illinois
- Douglas County
- Villa Grove
- 61956
- 501 3rd St
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