603 N Market St, Waterloo, IL 62298

Property Description

ONE TIME SHOW AND SELL - SELLER SELLING AS IS. A rare and exciting opportunity awaits with TWO separate residential buildings situated on one parcel (.429± acres), grandfathered as a multi-family property! The possibilities here are endless with approximately 1,905 sq. ft. combined and parking for 6+ vehicles, plus convenient drive-through access from Market Street to the alley. Whether you're looking for an income-producing investment, vacation property, short-term rental opportunity, or flexible living arrangement, this property checks all the boxes! Operate both homes as short-term rentals, live in the Chalet while generating income from the Cabin, or convert both into full-time residential use—the choice is yours! The timber-frame Chalet is packed with character and charm featuring cathedral ceilings and a stunning 25-foot stone fireplace that instantly steals the show! Offering 2 bedrooms, 2 baths, plus a possible third sleeping area in the lower level (no egress), this home comfortably sleeps 5–6 guests. Relax and unwind in your private hot tub enclosed with a privacy fence, gather around the firepit seating area, and enjoy the convenience of two washer/dryer sets along with a spacious basement storage area. Chalet Updates Include: • 2016: Air Conditioner • 2017: Privacy Fence • 2018: Furnace. The charming Cabin offers the perfect cozy retreat and additional flexibility! This adorable space features 1 bedroom and 1 bath (shower only) along with a beautiful granite kitchen seating area and an inviting outdoor firepit seating area, creating the perfect atmosphere to relax and unwind. Whether used as a short-term rental, guest space, or full-time residence, the Cabin delivers both charm and function. Cabin Updates Include: • 2019: Bathroom/kitchen flooring, shower remodel, water heater & wall heater • 2021: Roof, hot tub with privacy fence • 2023: Kitchen appliances, granite countertops & farmhouse sink • 2024: Loft door replacement, propane firepit & outdoor seating area. Properties offering this kind of versatility are hard to find! Whether you're searching for an investment opportunity, vacation rental potential, or a one-of-a-kind property setup, this may be your golden opportunity knocking at the door!