Business owner retiring-offering a rare commercial real estate investment opportunity to reimagine this well-maintained, income-producing property for your next venture or portfolio expansion. Currently operating as a long-standing daycare and preschool, this versatile mixed-use property is primed for transformation with multiple high-value exit strategies. Ideally positioned for commercial mixed-use zoning potential, continue operating a business while incorporating comfortable residential living quarters. Investors will appreciate the ability to convert into a multi-unit income property, with potential for 2-3 rental units utilizing the existing footprint, strategic bathroom enhancements, an existing 2nd-floor apartment, and an exterior-access finished basement-ideal for separate tenant entry and rental flexibility. Alternatively, reimagine the property as a multi-family investment property or fully deconvert into a spacious single-family home, perfectly suited for multi-generational living with defined separation, privacy, and flexible floorplan options to accommodate extended family or dual living needs. Set on two village lots, the property features a fenced yard, a blacktop half basketball court, and ample outdoor space for expansion, recreation, or value-add improvements. The oversized barn/garage offers exceptional storage, workshop, or contractor space, complemented by an attached one-car garage currently utilized by the tenant. Meticulously maintained with consistent interior updates since 1992, this is a rare opportunity for investors, developers, or owner-occupants to secure a flexible, high-potential property with strong income-producing capability, redevelopment upside, and long-term ROI potential.
New
$230,000
250 Peru St, Paw Paw, IL 61353
5beds
2,422sqft
Est.:
Single Family Residence
Built in 1891
-- sqft lot
$-- Zestimate®
$95/sqft
$-- HOA
What's special
Blacktop half basketball courtFenced yardComfortable residential living quartersAttached one-car garageExterior-access finished basementAmple outdoor space
- --
- on Zillow |
- 245
- views |
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Zillow last checked:
Listing courtesy of:
Wendi Sleezer, ABR,PSA,RENE,SRS 630-486-6514,
Swanson Real Estate
Source: MRED as distributed by MLS GRID,MLS#: 12624406
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 5
- Full bathrooms: 1
- 1/2 bathrooms: 4
Rooms
- Room types: Kitchen, Bedroom 5, Enclosed Porch Heated, Exercise Room, Storage
Primary bedroom
- Features: Flooring (Carpet)
- Level: Main
- Area: 180 Square Feet
- Dimensions: 12X15
Bedroom 2
- Features: Flooring (Carpet)
- Level: Main
- Area: 160 Square Feet
- Dimensions: 10X16
Bedroom 3
- Features: Flooring (Carpet)
- Level: Main
- Area: 81 Square Feet
- Dimensions: 9X9
Bedroom 4
- Level: Second
- Area: 117 Square Feet
- Dimensions: 13X9
Bedroom 5
- Level: Second
- Area: 72 Square Feet
- Dimensions: 8X9
Dining room
- Features: Flooring (Carpet)
- Level: Main
- Area: 195 Square Feet
- Dimensions: 13X15
Other
- Features: Flooring (Carpet)
- Level: Main
- Area: 176 Square Feet
- Dimensions: 8X22
Exercise room
- Features: Flooring (Carpet)
- Level: Basement
- Area: 180 Square Feet
- Dimensions: 15X12
Family room
- Features: Flooring (Carpet)
- Level: Basement
- Area: 338 Square Feet
- Dimensions: 26X13
Kitchen
- Level: Main
- Area: 132 Square Feet
- Dimensions: 11X12
Kitchen 2nd
- Level: Second
- Area: 90 Square Feet
- Dimensions: 10X9
Living room
- Features: Flooring (Carpet)
- Level: Main
- Area: 520 Square Feet
- Dimensions: 26X20
Storage
- Level: Basement
- Area: 144 Square Feet
- Dimensions: 8X18
Heating
- Natural Gas, Forced Air
Cooling
- Central Air
Appliances
- Included: Range, Dishwasher, Refrigerator, Washer, Dryer, Other, Multiple Water Heaters
- Laundry: Main Level, Upper Level, In Unit, Laundry Closet
Features
- 1st Floor Bedroom, In-Law Floorplan
- Flooring: Carpet
- Basement: Finished,Exterior Entry,Other,Egress Window,Partial Exposure,Rec/Family Area,Storage Space,Daylight,Full
Interior area
- Total structure area: 3,482
- Total interior livable area: 2,422 sqft
- Finished area below ground: 900
Video & virtual tour
Property
Parking
- Total spaces: 6
- Parking features: Concrete, Gravel, Garage, Yes, Garage Owned, Attached, Detached, Off Street, Driveway, Alley Access, Garage Faces Side, Owned
- Attached garage spaces: 3
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: No Disability Access
Features
- Patio & porch: Patio
- Exterior features: Other
- Fencing: Fenced
Lot
- Dimensions: 84x226x100x62x64x99
- Features: Irregular Lot, Mature Trees
Details
- Additional structures: Second Garage
- Additional parcels included: 22181047602300
- Parcel number: 22181047602500
- Special conditions: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Wood Siding
- Foundation: Concrete Perimeter
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1891
- Major remodel year: 1992
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Park, Curbs, Sidewalks, Street Lights, Street Paved
HOA
- Services included: None
Location
- Region: Paw Paw
Financial & listing details
- Price per square foot: $95/sqft
- Tax assessed value: $171,645
- Annual tax amount: $5,299
- Ownership: Fee Simple
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 3/13/2026 | Listing removed | $245,000$101/sqft |
Source:  MRED as distributed by MLS GRID #12328619 Report a problem | ||
| 4/3/2025 | Listed for sale | $245,000+2.5%$101/sqft |
Source: MRED as distributed by MLS GRID #12328619 Report a problem | ||
| 9/6/2024 | Listing removed | $239,000$99/sqft |
Source: MRED as distributed by MLS GRID #11997850 Report a problem | ||
| 3/6/2024 | Listed for sale | $239,000+4.4%$99/sqft |
Source: MRED as distributed by MLS GRID #11997850 Report a problem | ||
| 8/25/2023 | Listing removed | -- |
Source: MRED as distributed by MLS GRID #11612117 Report a problem | ||
| 5/8/2023 | Price change | $229,000-8%$95/sqft |
Source: MRED as distributed by MLS GRID #11612117 Report a problem | ||
| 8/24/2022 | Listed for sale | $249,000-0.4%$103/sqft |
Source: MRED as distributed by MLS GRID #11612117 Report a problem | ||
| 8/23/2022 | Listing removed | -- |
Source: MRED as distributed by MLS GRID #11254869 Report a problem | ||
| 3/3/2022 | Listed for sale | $249,900$103/sqft |
Source: MRED as distributed by MLS GRID #11254869 Report a problem | ||
| 1/26/2022 | Listing removed | -- |
Source: MRED as distributed by MLS GRID #11254869 Report a problem | ||
| 10/25/2021 | Listed for sale | $249,900$103/sqft |
Source: MRED as distributed by MLS GRID #11254869 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,511 +9.4% | $57,215 +18% |
| 2023 | $4,124 +30% | $48,488 +31.7% |
| 2022 | $3,173 +6.2% | $36,829 +8% |
| 2021 | $2,987 | $34,101 +3% |
| 2020 | -- | $33,107 +3% |
| 2019 | $2,868 +12.3% | $32,143 +5.5% |
| 2018 | $2,552 | $30,463 +3% |
| 2017 | $2,552 +1.5% | $29,576 |
| 2016 | $2,515 -0.4% | $29,576 |
| 2015 | $2,525 -17.2% | $29,576 -16.4% |
| 2014 | $3,050 +889.8% | $35,365 -3% |
| 2013 | $308 -90% | $36,459 -2% |
| 2012 | $3,088 | $37,203 |
Find assessor info on the county website
Monthly payment
Est. payment
$1,599/mo
Principal & interest
$1231
Property taxes
$368
More affordability tools
Climate risks
Neighborhood: 61353
Nearby schools
GreatSchools rating
- 7/10Paw Paw Elementary SchoolGrades: K-5Distance: 0.3 mi
- 4/10Paw Paw Junior High SchoolGrades: 6-8Distance: 0.3 mi
Schools provided by the listing agent
- Elementary: Paw Paw Elementary School
- Middle: Paw Paw Jr/Sr High School
- High: Indian Creek Middle School
- District: 271
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Illinois
- Lee County
- Paw Paw
- 61353
- 250 Peru St
Nearby cities
Nearby zip codes
Other Paw Paw Topics
