1518 5TH Avenue, Moline, IL 61265 | QC4217496 | Mel Foster Brokerage, LLC

1518 5TH Avenue $2,150,000

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    1518 5TH Avenue Moline, IL 61265

    Pending Continue to Show
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    • Commercial
    • MLS# QC4217496
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    Views: 334 Days On Site: 157

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    Property Details

    Great investment and development opportunity for the Reliance & Malcom buildings located in the Downtown Moline Commercial Historic District. The connected 5-story and 3-story buildings total 62,610 SF (53,970 SF & 8,640 SF). Extensive renovations have been completed with floors 1-3 new plumbing, electrical, windows, HVAC, and quality interior finishes. The retail tenants on the 1st and 2nd floor are University Club (banquet hall) Cafe Fresh (restaurant) and Debord's (catering). The third floor is renovated office space with three suites. Floors 4-5 are in shell condition with the opportunity to develop 17 apartments. The buildings are located in a TIF district and additional incentives available for the future development of the 4/5 floors. Please call the LA for additional information.

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    Neighborhood

    61265 (Moline) Demographics

    39 Median Age
    2,347 Population Density (per sq. mile)
    35% College Educated
    $51,305 Estimated Median Income
    12,474 Estimated Total Home Owners
    6,386 Estimated Total Renters
    66% / 34% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    44,360 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $140,750 Median Sales Price
    50 Homes Sold
    74 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $2,150,000
        5/6/2021 11:54:54 AM Status Changed Source New Value: Pending Continue to Show
        4/7/2021 10:40:28 AM Status Changed Source New Value: Pending (No Showings)
        12/8/2020 4:55:00 PM New in Database Source New Value: $2,150,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.