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1348 Madison Avenue, 
Madison, IL 62060

$199,000


Bed


Bath


4,608

Sq Ft


Multi-Family

Active

Listed by

Devin Outman

Landmark Realty

Last updated:

March 21, 2026, 02:54 PM

MLS#

25073689

Source:

MO MARIS

About This Home

1348 Madison Avenue

Here is your opportunity to add a solid cash flow surplus to your portfolio. This mixed use property offers a variety of income producing methods. Both of the residential upstairs apartments are currently rented, and the turn key bar & grill is ready to open right away, with a new owner or tenant of your choice. The main floor fully operational bar and grill was previously rented for $1,500/mo. Items included in the sale and will be transferred to the new owner, are all of the kitchen equipment consisting of the commercial stove top, fryers, prep coolers, range hood, perfectly functioning large walk in refrigeration system, and beer coolers. The upstairs residential apartment units consist of a 2 Bedroom 1 Bath, paying $900/mo. And a spacious 1 bedroom 1 bath unit and comes fully furnished provided by the seller, the tenants are paying $850/mo. The roof was completely replaced with architectural shingles in 2023. The commercial tenant once paid ALL utilities as apart of their lease terms, considering there is one electric, gas, & water meter. Lastly, there is an extra parcel included in the sale 21-2-19-401-037, it is a gravel lot for extra parking, or further development opportunity, located directly across the street on the opposite corner lot. That parcel has a separate address of 1400 Madison Ave. Feel free to contact the listing agent for further details.

Home Facts

Multi-Family

Built in 1940

Price Summary

199,000

$43 per Sq. Ft.

MLS #:

25073689

Last Updated:

March 21, 2026, 02:54 PM


Rooms & Interior

Interior

Living Area:

4,608 Sq. Ft.


Structure

Structure

Year Built:

1940


Lot

Lot Size (Sq. Ft):

12,750


Finances & Disclosures

Finances

Price:

$199,000

Price per Sq. Ft:

$43 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.