Opportunity for Value Added Multifamily Project in Historic "McKinley School" building that was converted to 4 -One Bedroom Apartments. Apartments are large enough to renovate into Two Bedroom units with a potential 5th "partially finished" apartment in the basement (not counted in room count or square footage) that would need Code Compliance and Egress to utilize. 2 Story all brick building with carport, coin-op laundry and additional parking. Owner pays for Water, Sewer and Trash as well as gas for heat (boiler for radiant heaters) and hot water. All four units have central air so the potential to remove the boiler and add furnaces to remove the gas expense for the apartments is worth investigating. Financials are based on Actual 2025 YE numbers and currently 2 units are vacant (may change as listing progresses) and listed for rent starting Monday 4/27/26 for $825. Building to be sold as-is. Call your favorite Realtor to view vacant unit and write offer subject to/contingent on seeing and approving all 4 units within 72 hours of accepted offer.
Closed
Listed by: Hartmann Realtors, Inc • Doug A Hartmann, Jr • Contact: 618-570-0629
Bought with: Re/Max Alliance
$250,000
502 Wadsworth St, Collinsville, IL 62234
1beds
1baths
4,334sqft
Multi Family, Apartment
Built in 1905
-- sqft lot
$251,000 Zestimate®
$58/sqft
$853 Estimated rent
Home value
$251,000
$233,000 - $271,000
$853/mo
Zestimate® history
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Additional parkingBoiler for radiant heatersCoin-op laundry
Zillow last checked:
Listing updated:
Listed by:
Doug A Hartmann, Jr 618-570-0629,
Hartmann Realtors, Inc
Bought with:
Jessica L Walden, 475130101
Re/Max Alliance
Source: MARIS,MLS#: 26025429
Originating MLS: Southwestern Illinois Board of REALTORS
Originating MLS: Southwestern Illinois Board of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
Heating
- Natural Gas, Hot Water, Radiant
Cooling
- Ceiling Fan(s), Central Air
Appliances
- Included: Range
Features
- Basement: Full
- Has fireplace: No
Interior area
- Total structure area: 4,334
- Total interior livable area: 4,334 sqft
- Finished area above ground: 2,167
- Finished area below ground: 0
Property
Parking
- Total spaces: 4
- Parking features: Carport
- Carport spaces: 4
Features
- Levels: Two
- Frontage length: 150
Lot
- Size: 0.48 Acres
Details
- Parcel number: 132212709104012
- Special conditions: Listing As Is
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Apartment Style
- Property subtype: Multi Family, Apartment
Materials
- Brick
Condition
- Year built: 1905
Utilities & green energy
- Electric: Ameren
- Water: Public
- Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected
Community & HOA
Community
- Subdivision: Park Place Sub
HOA
- Has HOA: No
Location
- Region: Collinsville
Financial & listing details
- Price per square foot: $58/sqft
- Tax assessed value: $300,450
- Annual tax amount: $6,403
- Date on market: 4/27/2026
- Cumulative days on market: 46 days
- Listing terms: Cash,Conventional,Sell as Entity
- Electric utility on property: Yes
Price history
| Date | Event | Price |
|---|---|---|
| 6/12/2026 | Sold | $250,000-5.7%$58/sqft |
Source:  MARIS #26025429 Report a problem | ||
| 5/12/2026 | Contingent | $265,000$61/sqft |
Source: MARIS #26025429 Report a problem | ||
| 4/27/2026 | Listed for sale | $265,000$61/sqft |
Source: MARIS #26025429 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $6,403 +4.9% | $100,150 +8% |
| 2023 | $6,101 +11.2% | $92,700 +11.7% |
| 2022 | $5,485 +1.9% | $82,960 +6.4% |
| 2021 | $5,384 +3.7% | $77,940 +4.8% |
| 2020 | $5,190 +2.7% | $74,360 +3.5% |
| 2019 | $5,053 | $71,820 +8.7% |
| 2018 | -- | $66,100 |
| 2017 | $4,807 +1.8% | $66,100 +2% |
| 2016 | $4,722 | $64,780 +2.7% |
| 2015 | $4,722 | $63,090 |
| 2014 | $4,722 | $63,090 |
| 2013 | $4,722 | $63,090 |
| 2012 | -- | $63,090 |
| 2011 | -- | $63,090 -19% |
| 2010 | -- | $77,880 +5.8% |
| 2009 | -- | $73,620 +10.4% |
| 2007 | -- | $66,660 +5.4% |
| 2005 | -- | $63,260 +11% |
| 2004 | $4,084 +6% | $57,010 +5.9% |
| 2003 | $3,853 -5.9% | $53,840 -3.4% |
| 2002 | $4,096 | $55,730 +5.6% |
| 2001 | -- | $52,760 +22.8% |
| 2000 | $2,994 | $42,980 |
Find assessor info on the county website
Neighborhood: 62234
Nearby homes
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Nearby schools
GreatSchools rating
- 6/10John A Renfro Elementary SchoolGrades: PK-4Distance: 1.1 mi
- 4/10Collinsville Middle SchoolGrades: 7-8Distance: 2.5 mi
- 3/10Collinsville High SchoolGrades: 9-12Distance: 2.8 mi
Schools provided by the listing agent
- Elementary: Collinsville Dist 10
- Middle: Collinsville Dist 10
- High: Collinsville
Source: MARIS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$251,000
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$251,000
- Illinois
- Madison County
- Collinsville
- 62234
- 502 Wadsworth St
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