Ray McDevitt
- Buy
- Sell
https://www.ruhlmortgage.com/ChrisSchneider.html
Description
Prime Downtown Redevelopment Opportunity! Unlock the potential of this nearly 20,000 sq. ft. property, ideally located in the heart of the thriving downtown district and just steps from restaurants, shopping, nightlife, and entertainment. Priced significantly below a recent appraisal, this property offers an exceptional opportunity for an investor, developer, or entrepreneur ready to bring a vision to life. The main floor features an established commercial/event space complete with an open banquet/event space, a kitchen/prep area, and three half baths that provides an excellent foundation for continued use or future redevelopment. One apartment has been completely renovated and is ready to go, while the remainder of the residential space has been gutted and is ready to be refinished and reimagined into another 11 units. With substantial space, a prime location, and endless possibilities for residential, commercial, or mixed-use development, this property offers the opportunity to create something truly special in the heart of downtown. Whether youre looking to build a unique rental portfolio, create additional residential units, expand commercial space, or develop a one of a kind mixed use destination, 500 S. 8th Street is a blank canvas with incredible potential. **City of Quincy Downtown TIF redevelopment grant funds still available for this location.
Property Highlights
Property Type: Multi Unit - Multiple
General Information
County: Adams
High School: Quincy School District #172
Subdivision: None
Listed By:
Happel, Inc., REALTORS
Office: 217-224-8383
RMLSA
MLS ID: CA1047253
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500 S 8th Street, Quincy, IL 62301.
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563-441-1862
toll free 866-441-1862
Customize Your Rate
| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $475,000 | $475,000 | $475,000 |
| Down Payment | $95,000 | $16,625 | $118,750 |
| Monthly Mortgage Amount | $2,465 | $3,025 | $3,055 |
| Taxes | $661 | $661 | $661 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $209 | $0 |
| Monthly Estimated Total | $3,265 | $4,034 | $3,855 |
Ray McDevitt
REALTOR®
Office: (563) 441-5228
Cell: (563) 940-0754
Licensed in IA & IL
Bettendorf Office
1228 Middle Road
Bettendorf, IA 52722
(563) 441-5000
Bettendorf, IA 52722
(563) 441-5000
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