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Rockford, Illinois Homes & Real Estate For Sale
Cell: (815) 222-8800

Real Estate Agent Chad Pierce

Chad Pierce

Cell: (815) 222-8800
Rockford

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551-564 N Clarence Avenue, Watseka, IL 60970

$2,000,000
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  • 551-564 N Clarence Avenue, Watseka, IL 60970 Main Photo

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Contingent
BEDS0 BATHS MLS#11093257
STATUSContingent PROPERTY TYPEMulti Unit - Multiple
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Property Description

GILMAN/WATSEKA - FOR SALE - 54 TOTAL UNITS - SUBSIDIZED SENIOR HOUSING - All 2 unit buildings (27 total buildings plus 1 office/recreational building) 42 units in Watseka, 12 units in Gilman. Currently tied into Rural Development/USDA loans and subsidized via USDA/RD/HUD. Any and all buyer must be qualified to acquire USDA/RD properties to continue with the subsidy structured payments. 48 - one bedroom units and 6 two bedroom units. Properties are in Good condition. Out of state owners are looking to liquidate their Illinois assets. Financials available to qualified buyers.

551-564 N Clarence Avenue | MLS# 11093257

This multi-family property located at 551-564 N Clarence Avenue, Watseka, IL 60970 is currently listed for sale with an asking price of $2,000,000. Search Watseka real estate on cpierce.gogambino.com today.

Property Features

Property Type: Multi Unit - Multiple
Cooling: Wall Sleeve
Lot Size: 4.94 Acres
Roof Type: Composition
Stories: 1.0
Taxes: $6,458
Year Built: 1990

Feature Descriptions

Current Use: Multi-Family, Elderly Housing
Drains: Accessible Entrance, Security Lighting, Storms and Screens (as exist)
Exterior: Wood
Foundation: Concrete Perimeter
Frontage Type: City Street, Public Road, Paved
HVAC: Electric
Lot Dimensions: 4.94 AC
Miscellaneous Indoor: Common Meeting Room/s, Accessible Entrance, Laundry Room
Miscellaneous Outdoor: Accessible Entrance, Security Lighting, Storms and Screens (as exist)
Parcel#: 19331770010000
Parking: 51-100 Spaces
Potential Use: Multi-Family, Elderly Housing, Single Room Occupancy
Tenant Pays: Air Conditioning, Electricity, Heat
Units: 54

Listed By / Shown By

Listed By

Agency Name: McColly Bennett Real Estate
Agency Phone: 815-929-9381

Shown By

Agent Name: Chad Pierce
Agent Phone: Cell: (815) 222-8800
Agency Title: Gambino Realtors

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Estimated Payment

$ 10,206.12 per month $9,084.62 Principal & Interest $538.17 Property Tax $583.33 Homeowner's Insurance

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/24/2026. The listing information on this page last changed on 04/24/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Fri 04/24/2026 12:00:30 AM EST) or MRED MLS (last updated Thu 04/23/2026 11:58:08 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Thu 04/23/2026 10:15:31 PM EST) or Northern Illinois Commercial Association Realtors (last updated Thu 04/23/2026 2:10:09 PM EST). Real estate listings held by brokerage firms other than Gambino Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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