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    103 N Main Street Tuscola, IL 61953

    View on Map
    For Sale
    $140,000

    COMMERCIAL - Tuscola, IL

    Type:Retail
    Added:
    Jul 8, 2025
    Days on Market:
    269
    Last Refresh:
    Apr 2 at 10:06 am

    Property Features for 103 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    09023413901100

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    ORIGINAL TOWN N23'5" OF S49' OF S85' LOTS 9 & 10 BLK 23
    TaxAnnualAmount
    2877

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    1976
    Floors in Building
    2
    Number of units
    1

    We can help!

    Listing Contact
    Steve Littlefield
    Steve Littlefield

    Listing agent Steve Littlefield License #475138856

    Listing office KELLER WILLIAMS-TREC 2441 Village Green Place, Champaign, IL

    Listing date Jul 8, 2025

    MLS# 12413450

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Tuscola Commercial Opportunity

    Located in downtown Tuscola, this commercial property presents a business opportunity. Currently used as a modern hair salon, the property offers potential for other business ventures. The building features over 2,800 square feet of space, divided between a main floor and a loft area. The loft area can be used for storage or finished for additional business space. The property has a modern aesthetic with updated lighting and paint.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Visual Image Salon Hair Salon Tuscola Masonic Temple Volunteer Organization

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tuscola
    County
    Douglas
    State
    Illinois
    Longitude
    -88.287622
    Latitude
    39.799388

    Nearby Similar for Sale

    • $750,000

      Historic Downtown Tuscola Commercial Portfolio

      Turn-key commercial and residential portfolio in the heart of Tuscola.
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    • $320,000

      Tuscola Showroom and Office Space

      18,000 SF showroom/office space in downtown Tuscola, Illinois.
      211 & 215 N Main Street, Tuscola, IL 61953
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    • $120,000

      Tuscola Commercial Showroom/Retail Space

      Over 3300 square feet in downtown Tuscola, Illinois.
      106 E Sale Street, Tuscola, IL 61953
      View Details
    • $130,000

      Retail Building in Downtown Tuscola

      Retail/showroom space in downtown Tuscola near amenities.
      108 E Sale Street, Tuscola, IL 61953
      View Details
    • $365,000

      Tuscola Commercial Building For Sale

      Prime location commercial building with high traffic and business potential.
      901 E Southline Road, Tuscola, IL 61953
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    • $990,000
      37 SF

      37,619 SF Former Grocery Store

      Well-maintained building with ample parking and multiple uses.
      605 E Southline Rd Tuscola, IL 61953, IL 61953
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    • $990,000
      37,619 SF

      Former Grocery Store with Parking

      37,619 SF building, formerly a grocery store, for sale.
      607 E Southline Rd, Tuscola, IL
      View Details
    • $365,000

      Tuscola Commercial Building Opportunity

      Large, open concept building in prime Tuscola location.
      901 E Southline Road, Tuscola, IL 61953
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial property in downtown Tuscola with potential for various ventures.
    Where is this retail space located?
    The property is located at 103 N Main Street Tuscola, IL.
    What is the asking price?
    The asking price for this property is $140,000.
    What are key features of this property?
    This property features: Prime commercial opportunity in downtown Tuscola.; Spacious 2,800+ sq ft building with main floor and loft.; Loft area suitable for storage or additional business space.
    (217) 356-6100
    We can help!
    Listing Contact
    Steve Littlefield
    Steve Littlefield
    Real Estate License ID: 475138856
    Learn More
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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
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