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Listing provided courtesy of Lori Bonarek RealtyMREDas Distributed by MLSGrid- MLS# 12393172MLS Provider

603 N Prospect StreetCambridge, IL 61238

Commercial · 4 Beds · 1.06 Acres
$1,999,999 Active

603 N Prospect Street Overview

Time on Site:
378 days
Visits:
39

This listing presents an excellent investment opportunity consisting of two multi-family properties located at 603 N. Prospect Street, Cambridge and 503 10th Avenue, Orion. Together, the properties offer a total of 41 residential units, including 24 studio apartments, ten one-bedroom units, four handicap-accessible one-bedroom units, and two two-bedroom units. Both buildings operate under HUD housing requirements, serving residents who are 62 years of age or older or individuals with qualifying disabilities. The properties are well-maintained and provide key amenities such as a community room and coin-operated laundry facilities, offering comfort and convenience for tenants. With a strong history of occupancy and consistent rental income, these safe and secure buildings represent a turnkey portfolio with significant income potential in the affordable housing sector.

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603 N Prospect Street Facts & Features

  • Type Commercial
  • Lot 1.06 Acres

Details

General

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Income: 0
  • Gross Scheduled Income: 0
  • Insurance Expense: 0
  • Maintenance Expense: 0
  • Net Operating Income: 0
  • Operating Expense: 0
  • Trash Expense: 0
  • Water Sewer Expense: 0

Building Information

  • Year Built: 0

Business Information

  • Current Use: Multi-Family

Location/Region

  • County Or Parish: Henry
  • MLS Area Major: Out of Area West
  • Township: Western

Tax Information

  • Tax Annual Amount: $11,505.48
  • Tax Year: 2024

General Information

  • Parcel Number: 1807202012
  • Property Type: Commercial Sale
  • Zoning: MULTI

Interior

General Information

  • Stories: 1

Exterior

Lot Information

  • Additional Parcels: Yes
  • Frontage Type: City Street
  • Lot Size Acres: 1.06
  • Lot Size Dimensions: 152 X 304
  • Lot Size Square Feet: 46174

Building Exterior/Construction

  • Construction Materials: Vinyl Siding
  • Roof: Composition

General Information

  • Number Of Units Total: 40

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 24

Unit 2 Details

  • Unit Type: Unit 2
  • Beds Total: 1
  • Baths Total: 1
  • Units Total: 10

Unit 3 Details

  • Unit Type: Unit 3
  • Beds Total: 1
  • Baths Total: 1
  • Units Total: 4

Unit 4 Details

  • Unit Type: Unit 4
  • Beds Total: 2
  • Baths Total: 1
  • Units Total: 2

Unit 5 Details

  • Unit Type: Unit 5
  • Beds Total: 0
  • Units Total: 0

Unit 6 Details

  • Unit Type: Unit 6
  • Beds Total: 0
  • Units Total: 0

Unit 7 Details

  • Unit Type: Unit 7
  • Beds Total: 0
  • Units Total: 0

603 N Prospect Street Neighborhood

Community

61238 (CAMBRIDGE) Demographics

42
Median Age
30
Population Density (per sq. mile)
30%
College Educated
$61,484
Estimated Median Income
1,010
Estimated Total Home Owners
137
Estimated Total Renters
88% / 12%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

603 N Prospect Street Monthly Cost

$
$ %
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$
$
Eric Nowik
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

603 N Prospect Street Market Data

Based on the last 30 days in this zip code

$141,042
Average List Price
$73
Average Price per Square Foot
2
Properties Sold
51
Average Days on Market
7
Properties for Sale
Calculations provided by Reliance Network

603 N Prospect Street History

Date Event Value Agent
1/24/2026Source: MRED Status Change
Active
1/19/2026Source: MRED Price Reduction
$1,999,999 -9.1%
1/19/2026Source: MRED Status Change
Price Change
6/21/2025Source: MRED Status Change
Active
6/16/2025Source: MRED Added to Database
June 16, 2025