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    Historical Church on Route 4 Title is generated by Realmo AI

    401 N Vine, Sparta, IL 62286

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    Claim this Listing
    For Sale
    $250,000

    Unimproved Land - Sparta, IL

    Type:Unimproved Land
    Lot size:
    0.50 Acres
    Added:
    Jan 9, 2026
    Days on Market:
    133
    Last Refresh:
    May 22 at 7:06 pm

    Property Features for 401 N Vine

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Parking features
    Driveway, Open, Parking Lot
    Security features
    Smoke Detector(s)
    Standard status
    Active
    APN
    19-036-010-00
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Patsy Lipe
    Patsy Lipe

    Listing agent Patsy Lipe License #475.212612

    Listing office Golden Key Realty 212 N Market Street, Sparta, IL

    Listing date Jan 9, 2026

    MLS# 24074568 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.

    HighLights

    • Well‑maintained historical church building with recent updates.
    • Sanctuary with seating for approximately 100, sound booth, and platform expansion.
    • Features a fellowship hall with a full kitchen and baptistry.
    • Includes upstairs Sunday School room, nursery, and office.
    • Handicapped accessible with 4 exits.
    • Located on a corner lot in a high‑traffic downtown area on Route 4, includes 4 lots.

    Overview

    This historical church is located on Route 4 in Sparta, Illinois. The building has been home to the members of Landmark Apostolic Church for many years and has been well-kept and updated in recent years. Many of the furnishings and personal property can stay. The church features a nice-sized sanctuary, seating approximately 100 people comfortably, a newly constructed sound booth, and a platform expansion. Upstairs, there is a large Sunday School room, a nursery room, and an office. The property also features an attached fellowship hall complete with kitchen cabinets, a sink, a stove/oven, a refrigerator, and a stand-up freezer. The baptistry is located in this area, along with updated men's and ladies' restrooms. The building is handicapped accessible and has 4 exits. The property sits on 4 lots, encompassing 0.5 acres. The location is in the city, on a corner, downtown, and in a high-traffic area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Landmark Apostolic Church Church

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparta
    County
    Randolph
    State
    Illinois
    Longitude
    -89.702002
    Latitude
    38.127849

    FAQs

    What type of property is this?
    Church & religious facility - Well-kept church with sanctuary, fellowship hall, and updated amenities.
    Where is this church & religious facility located?
    The property is located at 401 N Vine Sparta, IL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Well‑maintained historical church building with recent updates.; Sanctuary with seating for approximately 100, sound booth, and platform expansion.; Features a fellowship hall with a full kitchen and baptistry.
    (618) 357-1938
    We can help!
    Listing Contact
    Patsy Lipe
    Patsy Lipe
    Real Estate License ID: 475.212612
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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.

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