200 N Chicago St, Magnolia, IL 61336

Unique investor opportunity! This historic Masonic Lodge has been converted into a 4-unit, multifamily property. Each unit features updated 2 bedrooms and 1 bathroom, with utilities separated for each unit. Upstairs two units are currently operating as long-term rentals, with tenants on 12-month leases. Downstairs two units are offered as short-term rentals, fully furnished. They operate very successfully, often rented for 3 months at a time. The lack of alternative short-term lodging in the area makes these a desired housing choice, especially for utility and agricultural professionals working in the area. These lower units could easily be converted to traditional long-term rental units and find similar success. Coin-operated laundry is also made available onsite, through an additional provider. Magnolia, Illinois, offers a peaceful and welcoming community. It provides a small-town charm, while just a short drive to the city conveniences of Spring Valley, Peru, Streator, Wenona, and Henry. Don't miss out on this rare chance to own a multi-purpose investment property in Magnolia. Property being sold "as is".