250 Peru Street
Paw Paw, IL, 61353 $ 230,000
Bedrooms-- Baths-- Sq 2,422 for $230,000. This 2,422 square foot property was built in 1891 on a lot size of 0.433196.
Business owner retiring after more than 30 years, creating a rare opportunity to acquire a highly versatile mixed-use property in the heart of a caring small-town community. Whether you're an investor seeking cash flow, an entrepreneur looking for a live-work setup, or a business owner ready to expand, this property offers exceptional flexibility and long-term potential. The main floor and basement levels provide approximately 2,000 sq ft of space for a variety of commercial uses including professional offices, educational services, retail, wellness businesses, studios, or community-focused enterprises. The established commercial layout allows for immediate occupancy or adaptation to suit your business needs. The upper level features a private 2-bedroom, 1-bath apartment, providing valuable rental income, employee housing, or owner-occupied living quarters. Situated on two village lots, the property includes a fenced outdoor area, blacktop recreation space, an attached 1-car garage, and an oversized barn/2-car garage offering additional storage, workshop space, contractor facilities, or future business expansion possibilities. Well maintained with ongoing updates and improvements since 1992, this property presents multiple value-add opportunities, including continued mixed-use operation, commercial redevelopment, additional rental income strategies, or conversion to other permitted uses. Invest in your future while becoming part of a thriving small-town community. TIF Incentives available. Properties offering this combination of commercial space, residential income, ample storage, and redevelopment potential are rarely available.
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FeaturesGeneralCooling Central Air Window Unit(s) Zoned
Utilities Electric to Site Natural Gas Available Sewer Connected
Possession Closing
Roof Composition
Zoning OTHER
Construction Materials Block Wood Other Frame
Year Built 1891
Electric Circuit Breakers Separate Meters
Tenant Pays Electricity Heat Sewer
Stories Count 2
Township Wyoming
Property Subtype Mixed Use
Tax Year 2025
Gross Income 650
Additional Parcels Description 22181047602300
County Lee
Insurance Expense 0
Property Type Commercial Sale Mixed Use
Possible Use Commercial Other
Status Active
Directions Chicago Rd to Peru ST south
City Paw Paw
Number Of Units Total 2
MLS Area Paw Paw
Lot Size Square Feet 18870
Tax Annual Amount 6003.52
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N Y
Lease Type N/A
Standard Status Active
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InteriorFlooring Carpet Vinyl Other
Total Fireplaces 0
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ExteriorWater Source Municipal Water
Foundation Details Block Concrete Perimeter
Building Area Total 2422
Lot Dimensions 85x222
Frontage Type City Street
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* Excluded FeaturesList BySwanson Real EstateBroker
wrsleezer10@gmail.comEmail
NearbyAbout Paw Paw, IL 822 Population
9% Since 2002
$ 52,679 Median Income
39.43 Median Age
23% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 6/3/2026 | $230,000 | | Listed Price |