Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    117 Spring Court Worden, IL 62097

    View on Map
    For Sale
    $57,000

    Land - Worden, IL

    Lot size:
    2.00 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    13
    Last Refresh:
    Apr 5 at 1:06 pm

    Property Features for 117 Spring Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Agricultural
    Standard status
    Active
    APN
    07-2-11-18-00-000-031
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    72

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Barry Schulhofer

    Listing agent Barry Schulhofer License #471.022870

    Listing office Strano & Associates 1910 Carlyle Avenue, Belleville, IL

    Listing date Mar 24, 2026

    MLS# 25065217 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Homesite in Edwardsville School

    This 2-acre parcel offers the opportunity to build a custom home. Located in the Edwardsville School District, the land provides ample room for a custom home, yard, garden, or workshop. The property allows for privacy while still being close to conveniences. This property is located in Worden, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Worden
    County
    Madison
    State
    Illinois
    Longitude
    -89.81035
    Latitude
    38.88375

    Nearby Similar for Sale

    • $839,900
      3,223 SF

      Historic Farm Estate with Lake

      31-acre estate featuring a historic home and stocked lake.
      7536 Prairietown Road, Worden, IL 62097
      View Details
    • $385,000
      3,300 SF

      New All-Brick Triplex Investment

      Newly completed triplex with spacious units and ample parking.
      329 Rutledge Street, Worden, IL 62097
      View Details
    • $245,000
      2,342 SF

      Worden Income Property with Residences

      Investment opportunity with duplex and manufactured home in Worden.
      307 Sandbach, Worden, IL 62097
      View Details
    • $199,000

      Worden, IL Land Parcel

      10+/- acre parcel with building potential in Worden, IL.
      0 Possum Hill Road, Worden, IL 62097
      View Details
    • $25,000

      Residential Lot in Worden, IL

      Level residential lot available in Worden, Illinois.
      412 E Donnewald Street, Worden, IL 62097
      View Details
    • $839,900
      3,223 SF

      Historic Estate with Modern Updates

      31-acre estate featuring historic charm, modern updates, and recreational amenities.
      7536 Prairietown Road, Worden, IL 62097
      View Details
    • $25,000

      Residential Land in Worden, Illinois

      Residential land available in Worden, Illinois.
      0 Bottermann Street, Worden, IL 62097
      View Details
    • $750,000
      12,808 SF

      Warehouse Property on 11.31 Acres

      Industrial property with warehouse space and outdoor storage.
      726 Main St, Worden, IL
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2-acre homesite in the Edwardsville School District.
    Where is this residential land & home lot located?
    The property is located at 117 Spring Court Worden, IL.
    What is the asking price?
    The asking price for this property is $57,000.
    What are key features of this property?
    This property features: Located in the highly desirable Edwardsville School District.; Large 2‑acre parcel provides ample space for a custom home and outdoor amenities.; Offers the opportunity to build a custom home perfectly suited to the buyer's lifestyle.
    (618) 257-7690
    We can help!
    Listing Contact
    Barry Schulhofer
    Real Estate License ID: 471.022870
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!