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    400 Main St Mazon, IL 60444

    Sponsored
    For Sale
    $649,000

    MULTI_FAMILY - Mazon, IL

    Lot size:
    0.23 Acres
    Days on Market:
    53
    Last Refresh:
    Jan 19 at 3:06 pm

    Property Features for 400 Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    Rooms
    Bathroom 53, Bathroom 56, Bathroom 32, Bathroom 64, Bathroom 35, Bathroom 18, Bathroom 11, Bathroom 9, Bathroom 24, Bathroom 33, Bathroom 61, Bathroom 42, Bathroom 6, Bathroom 54, Bathroom 55, Bathroom 57, Bathroom 31, Bathroom 39, Bathroom 7, Bathroom 63, Bathroom 15, Bathroom 25, Bathroom 44, Bathroom 23, Bathroom 59, Bathroom 27, Bathroom 1, Bathroom 43, Bathroom 36, Bathroom 60, Bathroom 21, Bathroom 5, Bedroom 1, Bathroom 65, Bathroom 22, Bathroom 37, Bathroom 20, Bathroom 52, Bathroom 19, Bathroom 58, Bathroom 17, Bathroom 48, Bathroom 62, Bathroom 13, Bathroom 29, Bathroom 38, Bathroom 49, Bathroom 4, Bathroom 34, Bathroom 40, Bathroom 8, Bathroom 41, Bathroom 47, Bathroom 12, Bathroom 50, Bathroom 30, Bathroom 28, Bathroom 51, Bathroom 2, Bathroom 45, Bathroom 10, Bathroom 26, Bathroom 3, Bathroom 46, Bathroom 14, Bathroom 16
    Bedrooms
    1
    APN
    0821232004
    Basement
    Crawl Space
    Lot size
    0.23 Acres

    Utilities

    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1969
    Floors in Building
    2
    Number of units
    9
    Building materials
    Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    William Sole
    William Sole

    Sancken Sole Realty (815) 844-4104 [email protected]

    Listing agent William Sole (815) 252-8456

    Listing date Nov 28, 2025

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Well-Maintained 9-Unit Apartment Building

    Located in Mazon, IL, this well-maintained 9-unit efficiency apartment building is available for sale. The property features updated siding and awnings from 2021, along with a newer roof installed in 2015. A notable feature is the 45' x 24' detached Morton building, presenting excellent potential for additional income. The Morton building includes a service entry door, a 14' x 12' overhead garage door, 100-amp electrical service, a 4" floor drain, and 6" insulated walls and ceiling, making it suitable for storage rental or other flexible applications. Each efficiency unit is equipped with its own small refrigerator and microwave. Tenants have access to a shared kitchen and laundry area. Situated on a 0.23-acre lot, this property is zoned COMMR. This property offers a solid long-term investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Auto Repair Shop Garden Center Convenience Store Daycare Center Travel Agency Pawn Shop Laundry Service Butcher Parking Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Mazon
    County
    Grundy
    State
    Illinois
    Longitude
    -88.420893
    Latitude
    41.238534

    Nearby Similar for Sale

    • $250,000
      0.16 Acres

      Mixed-Use Building with Apartments

      Commercial building with four rented apartments in downtown Mazon.
      518 Depot St, Mazon, IL 60444
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    • $150,000
      1.44 Acres

      Versatile Commercial Property in Mazon, IL

      Commercial property with office, warehouse, storage, and historic grain elevator.
      604 South St, Mazon, IL 60444
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    • $175,000
      12,000 SF

      Mazon Commercial Property - Huge Potential

      Versatile 12,000 sq ft property, 1.44 acres
      604 South St, Mazon, IL 60444
      View Details

    FAQs

    What type of property is this?
    Apartment building - 9-unit apartment building with detached Morton building for additional income.
    Where is this apartment building located?
    The property is located at 400 Main St Mazon, IL.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: - Strong cash flow and solid long-term investment opportunity.; - Impressive 45' x 24' detached Morton building with 14' x 12' overhead door, 100-amp electrical service, and insulated walls/ceiling, offering excellent additional income potential.; - Well-maintained 9-unit efficiency apartment building.
    (815) 844-4104
    Request Owner's contact information
    400 Main St Mazon, IL 60444
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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
    400 Main St Mazon, IL 60444
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    We can help!
    Listing Contact
    William Sole
    William Sole
    Real Estate License ID: 471000241
    (815) 844-4104
    Learn more
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