417-416 W Wood St, Decatur, IL
Multi-family for Sale - $800,000 - 16,248 Sq. Ft. on 1 acres
Agent Info
| Nick Ragle Coldwell Banker Commercial Devonshire Realty |
Property Info
| CIMLS# | 1188513 |
| Location 417-416 W Wood St Decatur IL 62522 | |
| Updated | March 6th, 2026 |
| Type | Multi-family |
| Price | $800,000 |
| Building | 16,248 Sq. Ft. |
| Land | 1 acres |
Property Description
417 W Wood Street is a converted multifamily property featuring four 866 SF two-bedroom/one-bath apartment units on the second floor, currently in leasable condition, with a first floor comprised of office space, lobby area, and dormitory-style rooms. The layout presents a compelling value-add opportunity, as the first floor can be reconfigured to create four additional apartment units, significantly increasing rental income potential. Investors also have the option to purchase the property alongside the two adjacent buildings (447-461), which are currently occupied by Abbott EMS Services under triple net leases, providing immediate stabilized cash flow. The tenant has expressed a desire to continue leasing the garage and training facility building and is willing to collaborate with a new owner to structure long-term lease extensions, creating both near-term income stability and long-term upside through multifamily expansion. Additionally, this offering may be purchased as part of a broader portfolio that includes 1645 N 21st Street, Decatur, IL, and 1102 Ravina Park, Decatur, IL, both of which are occupied by the same tenant under triple net lease structures. The assets may be acquired individually or as a package, offering investors a combination of stabilized NNN income and value-add residential upside within the Decatur market.



