109 W Madison Street

Philo, IL 61864

Excellent investment opportunity in the heart of Philo! This income-producing property offers over 2,000 square feet and has been successfully operated as a duplex for many years. Currently configured as two 2-bedroom, 1-bath units, the home also offers the potential to be converted back into a single-family residence by reopening the interior staircase to the second floor. The upper unit, accessed by a private exterior staircase, features updated paint, an updated bathroom, and an updated kitchen area, while the spacious main-level unit is occupied by long-term tenants. A shared laundry area is located in the basement, and both residential leases extend through April 2027, providing immediate rental income. Additional income is generated by a detached 3-car garage and a separate 1-car garage, both currently leased as storage units. The property features an updated septic system with city water service, a roof replaced by the current owner, separately metered electric service, shared water and gas that are billed back to the tenants, a large welcoming front porch, rear tenant parking, and a common outdoor area perfect for relaxing or grilling. Being sold as is, this handyman special offers outstanding investment potential with multiple possibilities in a desirable small-town community.

Listing Courtesy of MRED as distributed by MLS Grid of Green Street Realty



Based on information submitted to the MLS GRID as of 2026-09-30 06:42 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2026-09-30 06:42 PM UTC
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