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.
This home of over 2000 sq ft has been used as a duplex for many years. The floor plan and pictures anticipate more what it would be like if returned to a single family home. The staircase has been closed off but diagram attempts to display what the floor plan could be like w it opened up. This is a handyman special with so much potential. Currently 2nd floor is accessed as a second floor apartment w exterior stairs. If you can remove some paneling & some creativity---this home has good bones and is worth your effort! Newer septic, city water. 3 c garage and a 1 c garage. Owner resided on first floor and always found tenant for 2nd floor easily.**Sunroom is not heated so is not part of stated sq ftg. Home to be sold in "as is" condition.
MRED as Distributed by MLS Grid #09530736
Dec 12, 2012
Listing Removed
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Dec 3, 2012
Listed
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MRED as Distributed by MLS Grid #09554265
Mar 31, 2011
Listing Removed
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Jan 12, 2011
Listed
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MRED as Distributed by MLS Grid #09545799
Dec 31, 2010
Listing Removed
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Jun 28, 2010
Listed
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Year
Property tax
Land + Additions
Assessment*
2025
$2,931 (+3.7%)
$3,990 + $47,520
$51,510
2024
$2,827 (+4.2%)
$3,990 + $47,520
$51,510
2023
$2,713 (+3.7%)
$3,670 + $43,680
$47,350
2022
$2,617 (+3.7%)
$3,400 + $40,480
$43,880
2021
$2,524 (+0.7%)
$3,190 + $38,010
$41,200
2020
$2,507 (−4.6%)
$3,030 + $36,100
$39,130
2019
$2,628 (+4.5%)
$2,830 + $33,800
$36,630
2018
$2,515 (−0.2%)
$2,730 + $32,660
$35,390
2017
$2,520 (+2.3%)
$2,600 + $31,070
$33,670
2016
$2,464 (+0.6%)
$2,500 + $29,900
$32,400
2015
$2,449 (+25.1%)
$2,440 + $29,140
$31,580
2013
$1,958
$2,390 + $28,600
$30,990
Public record
Beds
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Lot size
0.28 Acres
Year renovated
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
1880
Style
Other
County
Champaign County
APN
192723158002
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on Aug 7, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 104° expected this year, 19 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Philo, IL • 61864
Average low and high temperatures (°F)
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48
53
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25
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 109 W Madison St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $69,000 and $259,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $69K to $259K.