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    Glenwood Mixed-Use Investment Property Title is generated by Realmo AI

    106 N Main Street, Glenwood, IL 60425

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    Claim this Listing
    For Sale
    $3,500,000

    COMMERCIAL - Glenwood, IL

    Lot size:
    1.97 Acres
    Added:
    Sep 10, 2025
    Days on Market:
    254
    Last Refresh:
    May 21 at 4:06 pm

    Property Features for 106 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active
    APN
    32044000130000
    Lot size
    1.97 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    31507

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    3

    We can help!

    Listing Contact
    Tayser Mohammed

    Listing agent Tayser Mohammed License #475212298

    Listing office REMAX Legends 17W480 22nd St, Oakbrook Terrace, IL

    Listing date Sep 10, 2025

    MLS# 12468733

    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.

    HighLights

    • 20‑Year Triple Net Lease in Place
    • Earn $22,000/month ($264,000/year) Rental Income
    • Mix‑Used Zoning
    • Banquet Hall on the Bottom Floor
    • Enjoy a 3 Bedroom Apartment on Top Floor
    • Central Air Conditioning throughout the property

    Overview

    This mixed-use property in Glenwood, Illinois, features a banquet hall on the bottom level and a three-bedroom apartment on the top floor. The property is zoned for commercial use. The real estate is for sale, and the business operating within the property is not included in the sale. The property is currently under a 20-year triple net lease, generating a rental income of $22,000 per month, which amounts to $264,000 annually. The lot size is 1.9689 acres.
    Location Intelligence

    Current Use by Public Records

    ATM (ATM Link, ... Atm Dos Caminos Grocery & Convenience Store Glenwood Woods-North Parking ... Parking Lot & Garage Glenwood Oaks & Dos ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenwood
    County
    Cook
    State
    Illinois
    Longitude
    -87.6200775
    Latitude
    41.5479442

    Nearby Similar for Sale

    • $350,000
      2,925 SF

      Main Street Commercial Property

      Commercial property on Main Street with warehouse and vacant lot.
      135 E Main Street, Glenwood, IL 60425
      View Details
    • $295,000
      6,561 SF

      Retail Property on Main Street

      Retail space with pylon signage and residential development potential.
      129 E Main St, Glenwood, IL
      View Details
    • $11,500,000
      29,000 SF

      Turnkey Hospitality Portfolio For Sale

      Fully stabilized, high-volume hospitality portfolio with real estate.
      18405 S Halsted St, Glenwood, IL 60425
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with long-term lease in place.
    Where is this mixed-use property located?
    The property is located at 106 N Main Street Glenwood, IL.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: 20‑Year Triple Net Lease in Place; Earn $22,000/month ($264,000/year) Rental Income; Mix‑Used Zoning
    (708) 655-5000
    We can help!
    Listing Contact
    Tayser Mohammed
    Real Estate License ID: 475212298
    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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