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

    2005 Dog Walk Rd Equality, IL 62934

    Sponsored
    For Sale
    $599,000

    Farm/Estate, Cabin - Equality, IL

    Type:Farm
    Property size:
    1,600 SF
    Lot size:
    40.00 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 5 at 12:06 am

    Property Features for 2005 Dog Walk Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bonus Room, Living Room
    Bedrooms
    2
    Bathrooms
    1
    Parking features
    Garage
    Appliances
    Refrigerator
    Size
    1,600 SF
    Lot size
    40.00 Acres

    Utilities

    Heating system
    Propane (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1996
    Year renovated
    1996
    Floors in Building
    1
    Flooring type
    Carpet, Laminate
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    MICHAEL RAY

    Indian Creek Realty

    Listing agent MICHAEL RAY (618) 383-3512

    Listing date Mar 3, 2026

    MLS# 11604935 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Estate Grade Property Near Forest

    This 40-acre estate-grade property is located near the Shawnee National Forest. The land features bluffs and views to the South and West. Approximately 25 acres consist of white oak and other species, supporting deer, turkey, and other wildlife. A 200-yard driveway leads to a 2-bedroom, 1-bathroom cabin with an open kitchen and living area, as well as a walkout deck with double glass doors. Both bedrooms include closets. The cabin is heated by propane heaters and has Southeastern Illinois Electric and Saline Valley Water service. A 200 amp breaker box provides electrical capacity. The cabin also includes a mudroom and utility room with washer and dryer hookups, comprising approximately 1600 square feet of living space. Located up the hill is a 30 x 40 insulated pole building with an overhead garage door, a 14 ft ceiling, a 100 amp electric panel, a concrete floor, and a workbench.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Equality
    County
    Gallatin
    State
    Illinois
    Longitude
    -88.388219
    Latitude
    37.72504

    FAQs

    What type of property is this?
    Farm - 40-acre estate with cabin near Shawnee National Forest.
    Where is this farm located?
    The property is located at 2005 Dog Walk Rd Equality, IL.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Estate-grade 40-acre property bordering Shawnee National Forest with bluffs and views; - Includes a 2 BR, 1 BA cabin with open kitchen/living area and walkout deck; - 30 x 40 insulated pole building with concrete floor and overhead door
    (618) 383-3512
    Request Owner's contact information
    2005 Dog Walk Rd Equality, IL 62934
    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.
    2005 Dog Walk Rd
    Equality, IL 62934
    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
    2005 Dog Walk Rd Equality, IL 62934
    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

    We can help!
    Listing Contact
    MICHAEL RAY
    (618) 383-3512
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!