$40,000

1808 State Street, Granite City, IL 62040

  • 4,967 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1940
  • Property Lot Size Icon6,251sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $8/sqft
  • Property List Date Icon Listed 26 days ago

Property Description

Price listed is Starting Bid Only. Bidding starts closing 02/04/2026 @ 6 p.m. Discover your chance to own a potential filled, income-producing asset in the heart of Granite City. This partially leased 5-unit building generates $1,000 in monthly rental income at the current rental rates, offering immediate cash flow and long-term investment potential. The building features three-2BR/1BA units and two-1BR/1BA units. Currently, the owner pays for water and trash for the building with the tenants responsible for electric and gas thanks to dedicated meters, keeping operational costs manageable and transparent. Zoned C-Commercial within the Granite City zoning jurisdiction, the building is currently operating as a multi-unit apartment building, with any alternate use requiring city approval. Conveniently located near public transit, schools, and major Metro East roadways, this property combines accessibility with strong rental appeal. With two fully rented units, this is a smart investment whether you are expanding your portfolio or stepping into multifamily real estate for the first time. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers. Showings available on open house date only due to tenants occupying property.

Listing Status:
Pending
Date Added:
January 14, 2026
Data Last Updated:
February 10, 2026 at 7:17AM
Listing Office:
Adams Auction & Real Estate Services Inc. : 618-234-8751
MLS ID:
26002418
  • Basement: Full
  • A/C: Central AirWall/Window Unit(s)
  • Heating: Forced AirNatural Gas
  • Fireplace: Fireplaces: 0
  • Style: Other
  • Parking: Parking LotParking spaces: 0
  • Roofing: Flat
  • General: BlockBrickOtherTwo
  • Originating MLS: maris2
  • School District: Granite City DIST 9
  • County: Madison
  • Zoning: ORIGINAL PLAT OF GRANITE CITY LOT 22 50X12522-2-19-24-12-202-018
  • Utilities: Cable AvailableElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater ConnectedOther
  • Water: Public
  • Source: maris2
  • Ownership: Private

This listing courtesy of Adams Auction & Real Estate Services Inc.

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

P

Prather Elementary School

2450 W 25th St, Granite City, IL, 62040

Grades KG-4

1.22 miles away

L

Lake School

3201 E 23rd St, Granite City, IL, 62040

Grades 5-12

1.94 miles away

G

Granite City High School

3148 Fehling Rd, Granite City, IL, 62040

Grades 9-12

1.93 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.