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    555 MADISON Street Riverton, IL 62561

    View on Map
    Pending
    $575,000

    MULTI_FAMILY - Riverton, IL

    Added:
    Feb 10, 2026
    Days on Market:
    50
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 555 MADISON Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Rooms
    Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 8, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bedroom 7
    Parking
    10
    Parking features
    Guest
    Interior features
    Storage
    Standard status
    Pending
    APN
    15090476009

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    Per county tax records
    TaxAnnualAmount
    9333

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1991
    Number of units
    10
    Building materials
    Brick
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Debra Sarsany
    Debra Sarsany

    Listing agent Debra Sarsany License #475118739

    Listing office The Real Estate Group, Inc. 3701 West Wabash, Springfield, IL

    Listing date Feb 10, 2026

    MLS# CA1041690 Listing URL

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

    Overview

    Well-Maintained Multi-Family Riverton Property

    This well-maintained multi-family property in Riverton, IL, features a total of 10 units. The property includes an all-brick 8-plex consisting of eight 2-bedroom, 1-bathroom units. Additionally, there is a 4-car detached garage, also constructed of brick, with two 1-bedroom, 1-bathroom units located above. Landlord is responsible for garbage, water, and sewer expenses. The property also includes two coin-operated laundry rooms. The 4-car garage offers storage space or the potential for additional rental income and includes a bathroom. A new roof will be installed on the main 8-plex. Rent roll and expense report are available in Documents.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center Pharmacy Department Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverton
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.541044
    Latitude
    39.848793

    Nearby Similar for Sale

    • $575,000

      Riverton Multifamily Investment Opportunity

      Well-maintained 10-unit multifamily property in Riverton, Illinois.
      555 MADISON Street, Riverton, IL 62561
      View Details
    • $575,000

      Riverton, IL Commercial Property

      Commercial property for sale in Riverton, Illinois, 62561.
      555 MADISON Street, Riverton, IL 62561
      View Details
    • $3,200,000

      Versatile Industrial Property Near Springfield

      Strategic location for logistics, fleet operations, and service-based businesses.
      2675 Overpass Road unit: 1, Riverton, IL 62561
      View Details
    • $259,900

      Two Homes, One Riverton Parcel

      Two single-family homes on one lot, great investment opportunity.
      600 Piza, Riverton, IL 62561
      View Details

    FAQs

    What type of property is this?
    Apartment building - 10 units, including 8-plex and garage with apartments.
    Where is this apartment building located?
    The property is located at 555 MADISON Street Riverton, IL.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: All brick 8‑plex featuring eight 2 BR, 1 BA units.; Additional income potential from a 4‑car garage with two 1 BR, 1 BA units above.; **NEW ROOF to be installed on the main 8‑plex.**
    (217) 313-0580
    We can help!
    Listing Contact
    Debra Sarsany
    Debra Sarsany
    Real Estate License ID: 475118739
    Learn More
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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
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