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    Versatile Mahomet Property with Potential Title is generated by Realmo AI

    110 S Lombard Street, Mahomet, IL 61853

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    Claim this Listing
    For Sale
    $449,000

    COMMERCIAL - Mahomet, IL

    Type:Office
    Lot size:
    0.36 Acres
    Added:
    Mar 30, 2026
    Days on Market:
    51
    Last Refresh:
    May 19 at 6:06 pm

    Property Features for 110 S Lombard Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    151315328001
    Lot size
    0.36 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 1 Pittman's, Cecil, 1st Add
    Tax Annual Amount
    9055

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1988
    Floors in Building
    1
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Nick Taylor
    Nick Taylor

    Listing agent Nick Taylor License #471001633

    Listing office Taylor Realty Associates 116 S Lombard P.O. Box 110, Mahomet, IL

    Listing date Mar 30, 2026

    MLS# 12604756

    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

    • Spacious 5‑bedroom, 3‑bathroom layout suitable for a large family.
    • Finished basement with kitchenette, 2 bedrooms, full bath, and rec room provides ample additional living space.
    • Open‑concept main floor with vaulted beamed ceilings and stone wood‑burning fireplace creates an inviting atmosphere.
    • Private primary suite includes an attached full bath and walk‑in closet.
    • Large backyard with a peaceful tree line offers privacy.
    • Attached 2‑car garage provides convenient parking and storage.

    Overview

    This one-story property, currently utilized as office space, offers the potential to be transformed into a spacious primary residence. The versatile layout features five bedrooms and three bathrooms. The open-concept main floor is highlighted by vaulted beamed ceilings and a large living room with a stone wood-burning fireplace. The functional kitchen and convenient main-floor laundry add to the home's practicality. The private primary suite includes an attached full bath and walk-in closet, along with two additional bedrooms and a flexible bonus room suitable for an office, playroom, or guest space. The finished basement expands the living area with a kitchenette, two additional bedrooms, a full bathroom, a generous rec room, and ample storage. Outside, the property features a large backyard with a peaceful tree line for added privacy and an attached 2-car garage. Situated in Mahomet, Illinois, on a 0.36-acre lot, this property presents a unique opportunity for either commercial or residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Crossroads Counseling Solutions Counselor Carrara-Hay Marianne Psychotherapist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mahomet
    County
    Champaign
    State
    Illinois
    Longitude
    -88.4000373
    Latitude
    40.1929514

    FAQs

    What type of property is this?
    Office units - Spacious property in Mahomet, Illinois, with residential or commercial potential.
    Where is this office units located?
    The property is located at 110 S Lombard Street Mahomet, IL.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Spacious 5‑bedroom, 3‑bathroom layout suitable for a large family.; Finished basement with kitchenette, 2 bedrooms, full bath, and rec room provides ample additional living space.; Open‑concept main floor with vaulted beamed ceilings and stone wood‑burning fireplace creates an inviting atmosphere.
    (217) 355-0700
    We can help!
    Listing Contact
    Nick Taylor
    Nick Taylor
    Real Estate License ID: 471001633
    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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