$3,450,000
4.51± Acres
Active
Macon County, IL
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2490 N Water Street, Decatur, Illinois

MLS ID: 6260243
Status: Active
Price: $3,450,000
Acres: 4.51±
Type: Multi-Family, Residential
Address: 2490 N Water Street
City, State: Decatur, IL
County: Macon County
ZIP Code: 62526
Lat/Long: 39.868647, -88.954082
Parcel Number: 04-12-02-301-001
Year Built: 1975

Description

Logan Square is a legacy mixed-use investment property situated in the heart of Decatur, Illinois on U.S. Route 51 (Water Street). Developed between 1975 and 1979, the 4.51-acre complex consists of three buildings: one mixed-use building with residential apartments and street-level commercial suites, along with two additional residential buildings. The property includes 70 residential units and 13 commercial suites, offering a diversified income stream across 83 total units.

The property has remained under the same original ownership since its construction, presenting a rare opportunity to acquire a locally established asset for the first time in nearly five decades. Logan Square benefits from a central location with public transportation access and close proximity to shopping, restaurants, medical facilities, and schools. Its established operating history, affordable unit mix, and potential for continued rent and occupancy growth make it an attractive value-add investment.

Additional Information

Interior

Appliances: Electric Water Heater
Living Area Source: Public Records

Exterior

Lot Size Area: 5
Lot Size Square Feet: 196,456
Lot Size Units: Acres
Stories: 2
Water Source: Public

Financial/HOA/Schools

Elementary School District: Decatur Dist 61
Middle School District: Decatur Dist 61
High School District: Decatur Dist 61
Subdivision Name: Robert L Logans 1st Add
Tax Annual Amount: 56422
Zoning: O-1

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Brandon Peteroccelli

Brandon Peteroccelli

Moweaqua, Illinois

(217) 706-1440

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All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information current as of October 9, 2026 at 12:22:16 AM UTC.

Listing information provided courtesy of the Central Illinois Board of REALTORS®. IDX information is provided exclusively 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. The data is deemed reliable but is not guaranteed accurate by the MLS.

Listed By: Zane Peterson of Main Place Real Estate - (217) 454-8800