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1 W Main Street, Albion, IL 1 Main St 3,516 SF 100% Leased Retail Building Albion, IL 62806 $287,500 ($81.77/SF)
Investment Highlights
- Prime Downtown Location
- Major Updates & Move-In Ready Condition
- Mixed-Use Income Potential
Executive Summary
Great investment opportunity in the heart of downtown Albion! This mixed-use property features a beautifully maintained restaurant space on the main level and a stylish upper-level Airbnb/apartment offering 2-3 bedrooms and 1 full bath. Both levels have been nicely updated and are move-in ready.
The restaurant includes seating, equipment, 2 half baths, vinyl plank flooring installed in 2023, and a tankless water heater added in 2025. Upstairs features a comfortable and inviting living space with new washer and dryer included. Separate meters provide added flexibility for owners and tenants.
Major updates include roof replacement in 2021, downstairs AC in 2025, and replacement windows. Excellent Main Street location directly across from the town square with convenient on-street parking and strong visibility for business traffic. Great opportunity for an owner/operator, investor, or someone looking for a live/work setup.
The restaurant includes seating, equipment, 2 half baths, vinyl plank flooring installed in 2023, and a tankless water heater added in 2025. Upstairs features a comfortable and inviting living space with new washer and dryer included. Separate meters provide added flexibility for owners and tenants.
Major updates include roof replacement in 2021, downstairs AC in 2025, and replacement windows. Excellent Main Street location directly across from the town square with convenient on-street parking and strong visibility for business traffic. Great opportunity for an owner/operator, investor, or someone looking for a live/work setup.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$22,000
|
$6.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$22,000
|
$6.26
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$9,000
|
$2.56
|
| Net Operating Income |
$13,000
|
$3.70
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $22,000 |
| Annual Per SF | $6.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $22,000 |
| Annual Per SF | $6.26 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $2.56 |
| Net Operating Income | |
|---|---|
| Annual | $13,000 |
| Annual Per SF | $3.70 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,516 SF
Building Class
B
Year Built
1900
Price
$287,500
Price Per SF
$81.77
Percent Leased
100%
Building Height
2 Stories
Building FAR
2.18
Lot Size
0.04 AC
Opportunity Zone
Yes
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 10-02-429-013 | Improvements Assessment | $11,840 (2024) |
| Land Assessment | $4,770 (2024) | Total Assessment | $16,610 (2024) |
Property Taxes
Parcel Number
10-02-429-013
Land Assessment
$4,770 (2024)
Improvements Assessment
$11,840 (2024)
Total Assessment
$16,610 (2024)
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1 W Main Street, Albion, IL | 1 Main St
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