REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Fri

Jan

Sat

Jan

Sun

Jan

Chad Klein

chadkleinrealty@gmail.com +1(618) 979-5271

$ 40,000

Est. payment | -/mo

4,967 SqFt

Save

$ 40,000

Est. payment | -/mo

Save

4,967 SqFt

Open House

Sun Jan 25, 12:00pm - 2:00pm

Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Active

Purchase Type For Sale

Square Footage 4,967 sqft

Price per Sqft $8

Subdivision Granite City

MLS Listing ID 26002418

Style Other

Year Built 1940

Annual Tax Amount $1,347

Lot Size 6,250 Sqft

Acres 0.1435

Property Sub-Type 5 Family or More

Property Description

Price listed is Starting Bid Only. Bidding starts closing 1/28/2026 @ 6 p.m. Discover your chance to own a potential filled, income-producing asset in the heart of Granite City. This partially leased 5-unit building generates $1,000 in monthly rental income at the current rental rates, offering immediate cash flow and long-term investment potential. The building features three-2BR/1BA units and two-1BR/1BA units. Currently, the owner pays for water and trash for the building with the tenants responsible for electric and gas thanks to dedicated meters, keeping operational costs manageable and transparent. Zoned C-Commercial within the Granite City zoning jurisdiction, the building is currently operating as a multi-unit apartment building, with any alternate use requiring city approval. Conveniently located near public transit, schools, and major Metro East roadways, this property combines accessibility with strong rental appeal. With two fully rented units, this is a smart investment whether you are expanding your portfolio or stepping into multifamily real estate for the first time. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers. Showings available on open house date only due to tenants occupying property.

Location

State IL

County Madison

Rooms

Basement Full

Interior

Heating Forced Air, Natural Gas

Cooling Central Air, Wall/Window Unit(s)

Fireplaces Type None

Fireplace Y

Exterior

Parking Features false

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

Roof Type Flat

Private Pool false

Building

Story 2

Water Public

Level or Stories Two

Structure Type Block,Brick,Other

Schools

Elementary Schools Granite City Dist 9

Middle Schools Granite City Dist 9

High Schools Granite City

School District Granite City Dist 9

Others

Ownership Private

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Auction, Listing As Is

Listed by Adam Jokisch • Adams Auction & Real Estate Services Inc.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(618) 979-5271

chadkleinrealty@gmail.com

IL, USA

1808 State ST Granite City, IL 62040