202 Spring St, Evansville, IL 62242

Price listed is Starting Bid Only. Bidding starts closing 11/19/2025 @ 6:30 p.m. Opportunity knocks for investors or savvy flippers with this rare chance to own two buildings on a single parcel in the heart of Evansville, Illinois. Situated on a prominent corner lot, this unique property offers flexibility, income potential, and room to grow. The building, located at 509–511 Liberty Street, features approximately 1,216 square feet of finished space. Inside, you will find four versatile rooms, two half bathrooms, and a stand-alone shower. The structure also includes a full unfinished basement and an expansive upper level that offers the potential to significantly increase the livable square footage once finished. Recently approved for residential occupancy by the City of Evansville, this building, fully connected to public utilities, and primed for your next vision, whether that be a personal residence, office space, or creative redevelopment. Just steps away, and around the corner the building at 202 Spring Street is a charming 1-bedroom, 1-bathroom rental unit generating steady income from a long-term tenant currently paying $600 per month rent. This home offers 936± square feet of comfortable living space, including a spacious living room, a large bedroom, a full bathroom, and a well-equipped eat-in kitchen with ample cabinet and counter space. Both buildings are fully electric with separate electric meters, while there is one water meter servicing both units the owner pays this monthly bill. Located within Evansville city zoning, any alternative uses would require city approval. The property’s strategic location near the Kaskaskia River, schools, and major thoroughfares like IL Route 3 enhances its appeal for a variety of uses. Whether you are looking to live in one unit and rent the other, expand your investment portfolio, or launch a new project, this multi-structure parcel offers exceptional potential and flexibility in a growing community. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers. ** Property lies within a 100 year AE-Flood Plain **