Map of Property

The Garden Apartments

For Sale

540 W Main Street, Decatur, IL 62522

This Decatur property for sale is located at 540 W Main Street. The current listed sale price for The Garden Apartments is $395,000. The Garden Apartments is situated on a lot that is 0.22 acre in size.

Contacts

broker
Zane Peterson

Main Place Properties

Property Details

  • Property Type Multi-Family
  • Property Size 8,763 SF
  • Units 9
  • Lot Size 0.22 Acre
  • Year Built 1961
  • Year Renovated 2016
  • Date Updated May 5, 2025
Located in the Old Town area of Decatur. Only a few short blocks to downtown Decatur to the East and Millikin University to the West.The Garden Apartment building is a 9 unit low-rise multifamily property. Mid-century design with all brick and steel construction. Nice sized units (6 two bedroom units & 3 one bedrooms). All units on separate electric meters. Shared coin operated washer/dry in basement. 6 covered parking spaces with additional ample street parking. All units have been refurbished with new flooring, paint, fixtures, and appliances. Only blocks away from Downtown Decatur to the East and Millikin University to the West. Capital improvements in the last 10 years included new boiler, furnace, water heater, and all new appliances. Stabilized third-party property management is in place. A profitable opportunity awaits for the right investor! Contact investment broker for all inquiries.
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Highlights

  • 9.2% CAP rate with stabilized management
  • Refurbished units: newer flooring, paint, fixtures, appliances
  • Prime central location near Downtown Decatur & Millikin University
  • Solid brick/steel construction with key system upgrades

Getting around

  • 80/100

    Walk Score ®

  • 65/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Decatur, IL
  • Neighborhood Near West Decatur
  • Zip Code 62522

Points of Interest

  • Mobil

    0.57 miles

  • Corner Gas Station

    1.36 miles

  • Circle K

    1.42 miles

  • Casey's General Store

    1.61 miles

  • Huck's Food & Fuel

    1.97 miles

  • Marathon;Circle K

    2.18 miles

  • Kroger

    2.50 miles

  • County Market Express

    2.82 miles

  • Shell

    3.54 miles

  • Lot M1

    0.45 miles

  • Lot M2

    0.46 miles

  • Lot M3

    0.47 miles

  • Lot M4

    0.49 miles

  • Lot M5

    0.50 miles

  • Lot M10

    0.67 miles

  • Lot M8

    0.70 miles

  • Lot M9

    0.73 miles

  • Lot M7

    0.74 miles

  • Lot M11

    0.80 miles

  • INTOWN MOTEL

    1.09 miles

  • Soy City Motel

    1.65 miles

  • Decatur Inn

    2.54 miles

  • Sandy's Motel

    2.88 miles

  • Lakeview Motel

    3.09 miles

  • Americas Best Value Inn

    3.56 miles

  • Baymont Decatur

    4.77 miles

  • Hampton Inn Decatur Mt. Zion

    4.79 miles

  • Country Inn & Suites

    4.86 miles

  • Holiday Inn Express

    4.87 miles

  • Kroger

    1.42 miles

  • Save-A-Lot

    2.06 miles

  • County Market

    2.89 miles

  • Target

    3.36 miles

  • Walmart Supercenter

    4.07 miles

  • ALDI

    4.76 miles

  • Kohl's

    5.19 miles

  • Hickory Point Mall

    5.27 miles

  • Von Maur

    5.28 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Zane Peterson

Main Place Properties

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