RARE 16-UNIT VALUE-ADD ON 1.90 ACRES Built in 1978 as an assisted living residence and later operated as Doll Memorial Apartments, this single-story, 12,545 sq ft building offers something few small-town investments can: purpose-built construction, an efficient layout and real room to grow. The unit mix is simple and highly rentable. There are 8 studios (approx. 529 sq ft) and 8 two-bedroom apartments (approx. 634 sq ft), each with its own bathroom. The single-level design means no stairs, easy access to every unit and straightforward maintenance and turnovers. Ten units are currently vacant, and most are already in rentable condition, giving the next owner a clear path to lease-up through light work rather than major renovation. All of this sits on a generous 1.90-acre lot on the south side of Lena, near IL Route 73 and a short drive from Freeport. It's an outstanding opportunity for the investor ready to fill units, add value and build long-term equity. Buyer to verify all information.

Listing Courtesy of MRED as distributed by MLS Grid of Home One Realty



Based on information submitted to the MLS GRID as of 2026-11-04 08:11 AM 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: 2026-11-04 08:11 AM UTC
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