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    Choice Realty

    101 Grassy Lane, Carencro, LA 70520
    (337) 258-0235
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    Size: 10+ agents

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    Illinois

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    Property Types

    • Commercial Sale
    • Commercial Lease
    • Land
    • Farm

    Listings

    For Sale (29)

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    Commercial Land Freeport, Illinois
    $2,000,000

    Commercial Land Freeport, Illinois

    Commercial land available for development with high visibility and easy access.

    1203 Il Rt 26 N, Freeport, IL 61032
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    Recreational Land in Lake Carroll
    Contact for pricing
    0.26 Acres

    Recreational Land in Lake Carroll

    Buildable lot in private recreational community near Chicago.

    3521 Shady Ln, Lake Carroll, IL 61046
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    Land in Galena Territory
    $39,000
    0.99 Acres

    Land in Galena Territory

    Land near The General Golf Course in Galena Territory.

    2 Redwing Ct, Galena, IL 61036
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    Residential Land in Johnson City
    $65,000
    0.40 Acres

    Residential Land in Johnson City

    Partially wooded lot on dead end street near amenities.

    101 Knobb Hill Rd, Johnson City, TN 37601
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    Residential Land in Johnson City
    $62,000
    0.40 Acres

    Residential Land in Johnson City

    Partially wooded lot in a convenient location.

    101 Knobb Hill Rd, Johnson City, TN 37601
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    Commercial Property in Freeport, IL
    $135,000

    Commercial Property in Freeport, IL

    Corner lot with office, bathrooms, and ample parking.

    221 W Galena Ave, Freeport, IL 61032
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    Residential Lot in Freeport, IL
    Contact for pricing
    0.35 Acres

    Residential Lot in Freeport, IL

    Residential building lot in Countryside Estates subdivision.

    3222 W Rye Ridge Ct, Freeport, IL 61032
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    Residential Lot in Countryside Estates
    Contact for pricing
    0.45 Acres

    Residential Lot in Countryside Estates

    Residential building lot in Freeport, IL, with covenants and restrictions.

    3218 W Rye Ridge Ct, Freeport, IL 61032
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    Land Near Galena Territory Marina
    $49,500
    0.88 Acres

    Land Near Galena Territory Marina

    0.88 acre lot near marina with Galena Territory amenities.

    1 Fawn Ln, Galena, IL 61036
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    Commercial Property with Residential Home
    $399,000
    3,000 SF

    Commercial Property with Residential Home

    Gas station, garage, hardware store, and residential home for sale.

    1582 Blue Springs Rd, Elizabethton, TN 37643
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    Downtown Lafayette Commercial Property
    $425,000
    3,900 SF

    Downtown Lafayette Commercial Property

    Prime commercial property in downtown Lafayette with office and warehouse space.

    310 S Buchanan St, Lafayette, LA 70501
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    Kingsport Land Parcel on I26
    $950,000
    27.80 Acres

    Kingsport Land Parcel on I26

    27+ acre commercial land with I26 frontage in Kingsport.

    Easy St W Of, Kingsport, TN 37663
    View details
    Golf Course View Building Lot
    $50,000
    0.76 Acres

    Golf Course View Building Lot

    Located in The Galena Territory, with views of the fairway.

    7 Hickory St, Galena, IL 61036
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    Residential Lot in Freeport, IL
    Contact for pricing
    0.28 Acres

    Residential Lot in Freeport, IL

    Residential building lot suitable for a single-family home.

    3214 Rye Ridge Trl, Freeport, IL 61032
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    Buildable Lot with Panoramic Views
    Contact for pricing
    0.51 Acres

    Buildable Lot with Panoramic Views

    Open lot with utilities, amenities, and lake access.

    33 Lake Ridge Rd, Galena, IL 61036
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    Residential Land with Lake Views
    $50,000
    0.93 Acres

    Residential Land with Lake Views

    0.93-acre lot with seasonal lake views and privacy.

    20 Arrowwood Ln, Galena, IL 61036
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    Commercial Land in Enterprise Zone
    Contact for pricing

    Commercial Land in Enterprise Zone

    Two B-3 zoned lots totaling 0.82 acres in Freeport, IL.

    South Tbd E, Freeport, IL 61032
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    62 Acres of Verdant Grassland
    $599,000
    62.00 Acres

    62 Acres of Verdant Grassland

    Land with pond, pole barn, and income potential.

    3175 W Mitchell Rd, Hanover, IL 61041
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    Land in Galena Territory
    $35,000
    0.68 Acres

    Land in Galena Territory

    Upsloping lot with mature trees and potential long views.

    12 Saddleback Rd, Galena, IL 61036
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    Galena Business with Real Estate
    $375,000

    Galena Business with Real Estate

    Business opportunity near downtown Galena with historical significance.

    414 Spring St, Galena, IL 61036
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    Retail Business Opportunity in Galena
    $600,000

    Retail Business Opportunity in Galena

    Retail business with real estate for sale on Highway 20.

    412 Spring St, Galena, IL 61036
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    Freeport Land in Cul-de-sac
    $44,500
    1.54 Acres

    Freeport Land in Cul-de-sac

    Two lots totaling 1.54 acres in Freeport, Illinois.

    1820 S Yellow Creek Rd, Freeport, IL 61032
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    Residential Land in Galena Territory
    $39,900
    0.83 Acres

    Residential Land in Galena Territory

    Building lot with greenspace, near golf and recreation.

    271 Blackhawk Dr, Galena, IL 61036
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    Secluded Land with Valley Views
    $75,000
    2.02 Acres

    Secluded Land with Valley Views

    Private Galena land with vistas, near golf and recreation.

    93 Heatherdowns Ln, Galena, IL 61036
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    Residential Land Near Owners Club
    Contact for pricing
    1.53 Acres

    Residential Land Near Owners Club

    1.53 acre lot near Owners Club in Galena, Illinois.

    20 Wagoner Ln, Galena, IL 61036
    View details
    Golf View Lot in Galena
    $58,000
    0.69 Acres

    Golf View Lot in Galena

    0.69 acre golf view lot in The Galena Territory.

    137 W Glen Hollow Rd, Galena, IL 61036
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    Residential Land in Quiet Area
    Contact for pricing
    0.56 Acres

    Residential Land in Quiet Area

    Spacious lot in Thunder Bay subdivision, Galena, Illinois.

    3 Honeycomb Ct, Galena, IL 61036
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    Turn Key Galena Inn
    $850,000

    Turn Key Galena Inn

    Mixed-use property with unlimited possibilities in downtown Galena, Illinois.

    412 Spring St, Galena, IL 61036
    View details
    Elevated Land with Panoramic Views
    $199,000
    2.23 Acres

    Elevated Land with Panoramic Views

    2+ acre Galena Territory building site with exceptional views.

    3 Eagle Ln, Galena, IL 61036
    View details

    For Lease (2)

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    Office Space in Galena
    $650 / Mo

    Office Space in Galena

    Versatile office space for rent in a desirable Galena location.

    5129 W Longhollow Rd, Galena, IL 61036
    View details
    Enterprise Zone Land For Sale
    Contact for pricing

    Enterprise Zone Land For Sale

    Two B-3 zoned parcels totaling 0.82 acres in Freeport, IL.

    South St, Freeport, IL 61032
    View details

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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Choice Realty
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