Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    26 Wellesley Pl Alton, IL 62002

    Sponsored
    Picture of Residential land & home lots at Wellesley Pl 26, Alton, IL
    For Sale
    Contact for pricing

    Land - Alton, IL

    Lot size:
    0.35 Acres
    Days on Market:
    73
    Last Refresh:
    Feb 25 at 5:06 pm

    Property Features for 26 Wellesley Pl

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Single-Family
    APN
    20-2-02-31-02-204-010
    Exterior features
    Level
    Lot size
    0.35 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Rick Lauschke
    Rick Lauschke

    Coldwell Banker Brown Realtors (618) 692-7290

    Listing agent Rick Lauschke (618) 465-2966 License #471.000992

    Listing date Dec 15, 2025

    MLS# 4208158 Listing URL

    Copyright © 2026 MARIS. 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

    Residential Lot in Established Subdivision

    This 0.35-acre residential building lot is located within an established subdivision in Alton, Illinois. Suited for single-family construction, the lot is a great walkout building site. Builders are welcome.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Skin Care Clinic Auto Parts Store Kitchen & Bath Showroom Cafe & Coffee Shop Grocery & Convenience Store Storage Facility Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.138785
    Latitude
    38.934038

    Nearby Similar for Sale

    • $300,000
      7,340 SF

      Former Bank Building on Parkway

      Visible former bank building with drive-thru and ample parking.
      4365 Alby St, Alton, IL 62002
      View Details
    • $990,000
      8,800 SF

      Alton Bar and Grill For Sale

      Turnkey bar and grill with versatile commercial space.
      2204 Fosterburg Rd, Alton, IL 62002
      View Details
    • $550,000
      7,126 SF

      Retail, Warehouse, and Restaurant Space

      Commercial property featuring retail, warehouse, and restaurant spaces for sale.
      1856 E Broadway, Alton, IL 62002
      View Details
    • $340,000
      19,534 SF

      Former Bank Building in Alton

      Versatile commercial property with ample parking and finished lower level.
      1520 Washington Ave, Alton, IL 62002
      View Details
    • $210,000
      1,870 SF

      Alton Office Building For Sale

      Move-in ready office building in downtown Alton, Illinois.
      500 E 6Th St, Alton, IL 62002
      View Details
    • $350,000
      0.04 Acres

      Turnkey Bar with Gaming

      Established bar with gaming in downtown Alton, Illinois.
      314 State St, Alton, IL 62002
      View Details
    • $149,900
      4,687 SF

      Mixed-Use Building in HUB Zone

      Two-story mixed-use building with retail, office, and warehouse potential.
      1850 E Broadway, Alton, IL 62002
      View Details
    • $525,000
      16,128 SF

      Alton Warehouse/Retail/Industrial Space

      16,128 SF multi-use building in HUBZone.
      2726 E Broadway, Alton, IL 62002
      View Details
    • $89,000
      1,980 SF

      Alton Commercial Building with Workshop

      Commercial building with mechanic shop and car enthusiast workshop.
      1117 Milton Rd, Alton, IL 62002
      View Details
    • $250,000
      2,263 SF

      Alton Mixed-Use Commercial Opportunity

      Versatile commercial building with storefront, garage, and unfinished basement.
      2517 College Ave, Alton, IL 62002
      View Details
    • $75,000
      1,247 SF

      Alton Commercial Property For Sale

      Commercial property for sale in Alton, Illinois on Central Avenue.
      1401 Central Ave, Alton, IL 62002
      View Details
    • $832,000
      41.60 Acres

      Alton Farm Land For Sale

      41.6 acres of land in Alton, Illinois.
      Wood Station Rd, Alton, IL 62002
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential building lot for sale in Alton, Illinois.
    Where is this residential land & home lot located?
    The property is located at 26 Wellesley Pl Alton, IL.
    What is the asking price?
    The asking price for this property is $19,500.
    What are key features of this property?
    This property features: - Walkout building lot; - Established subdivision; - Level lot
    (618) 444-9182
    Request Owner's contact information
    26 Wellesley Pl Alton, IL 62002
    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.
    26 Wellesley Pl
    Alton, IL 62002
    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
    26 Wellesley Pl Alton, IL 62002
    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
    Rick Lauschke
    Rick Lauschke
    Real Estate License ID: 471.000992
    (618) 444-9182 (618) 465-2966 4652966
    Learn more
    Google sign-in failed. Please try again or use another login method.