4-Bedroom Illinois Fixer-Upper – Only $22,500!
A 4-bedroom layout, 2 full bathrooms, approximately 1,600 square feet, full basement, enclosed front porch, and deep backyard make 503 E Mason Street in Polo, Illinois an eye-catching renovation opportunity for just $22,500.
Built in 1900, this traditional two-story home sits on a roughly 7,405-square-foot lot and is currently being sold as an REO/lender-owned property. The home needs renovation, but its size and floor plan provide plenty to work with.
Approximately 1,600 Sq Ft
The home offers approximately 1,600 square feet of living space spread across two stories.
Its traditional floor plan begins with an enclosed front porch, which leads into a spacious living room.
From there, the layout continues into the dining room and kitchen, creating distinct spaces rather than one completely open floor plan.
4 Bedrooms & 2 Full Bathrooms
One of the biggest surprises at this price is the bedroom count.
The property offers 4 bedrooms and 2 full bathrooms.
One bedroom and one full bathroom are conveniently located on the main floor, providing flexibility for guests, a home office, or someone who prefers fewer stairs.
Upstairs are three additional bedrooms and the second full bathroom.
Main-Floor Laundry
Another useful feature is main-floor laundry.
That eliminates the need to carry laundry into the basement and could make the home’s everyday layout more convenient after renovations are completed.
Full Unfinished Basement
Below the house is a full unfinished basement.
It isn’t included in the finished living area, but it provides additional space for utilities, storage, tools, and renovation projects.
Because this is an older 1900 home, buyers should carefully inspect the basement, foundation, moisture conditions, and structural components.
Deep Backyard & Deck
The lot measures approximately 51 x 171 feet, creating a particularly deep backyard.
A rear deck overlooks the yard, which provides room for gardening, recreation, outdoor entertaining, or other future improvements.
The property does not have an HOA.
Natural Gas Heat
Heating is provided by a natural-gas forced-air system.
The current listing identifies no central air-conditioning system, so a future owner may want to factor cooling upgrades into the renovation budget.
The property is connected to public water and public sewer.
REO Property
This home is REO/lender owned, with the owner identified as the Secretary of Veterans Affairs.
The property was built before 1978, so lead-based paint may be present.
The seller also does not pay certain customary closing expenses, and proof of funds is required for cash transactions. Buyers using financing will need an appropriate lender pre-approval.
The property may also qualify for Vendee financing, subject to eligibility and approval.
Listed at $22,500
At just $22,500, the low price reflects the renovation work ahead.
Still, the combination of 4 bedrooms, 2 full bathrooms, approximately 1,600 square feet, a full basement, main-floor laundry, enclosed porch, deck, and deep lot gives this century-old Illinois home plenty of possibilities.
For an experienced buyer prepared to renovate, 503 E Mason Street could be an interesting project at a remarkably low entry price.
Listed on Zillow