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.

Philo is located in Illinois. Philo, Illinois has a population of 1,421. Philo is more family-centric than the surrounding county with 32.99% of the households containing married families with children. The county average for households married with children is 30.63%.
The median household income in Philo, Illinois is $94,635. The median household income for the surrounding county is $56,939 compared to the national median of $69,021. The median age of people living in Philo is 37.3 years.
The average high temperature in July is 84.4 degrees, with an average low temperature in January of 16.6 degrees. The average rainfall is approximately 40.6 inches per year, with 22 inches of snow per year.