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.

Property Features

Local Schools