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    Mixed-Use Building with Apartment Potential Title is generated by Realmo AI

    801 - 805 1st Street, La Salle, IL 61301

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    Claim this Listing
    For Sale
    Under Contract
    $349,900

    COMMERCIAL - Lasalle, IL

    Lot size:
    0.20 Acres
    Added:
    Jul 2, 2025
    Days on Market:
    319
    Last Refresh:
    May 16 at 7:06 pm

    Property Features for 801 - 805 1st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active Under Contract
    APN
    1815415030
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3312

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    9
    Building materials
    Wood, Brick

    We can help!

    Listing Contact
    John Dunholter

    Listing agent John Dunholter License #471000199

    Listing office Brummel Properties, Inc. 58 Chicago Road, Oswego, IL

    Listing date Jul 2, 2025

    MLS# 12409525

    Copyright © 2026 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.

    HighLights

    • Significant structural reinforcements, new roofs, exterior concrete, landscaping, hardscaping, gutters and siding already completed.
    • Six upscale apartments are fully framed with electrical and plumbing rough‑ins completed, and HVAC ductwork largely installed.
    • Additional materials purchased including TREX decking boards, steel doors, and electrical equipment.
    • Potential for mixed‑use building with retail space on the ground floor.
    • Underground conduits in place for electrical and gas supply.
    • Space available for nine parking spaces.

    Overview

    The former Maytag building is planned to be a mixed-use property featuring six upscale apartments on the second floor and retail space on the ground floor. The apartments are fully framed, with electrical and plumbing rough-ins completed. HVAC ductwork is largely installed for the apartments. Significant structural reinforcements have been made, along with the installation of new roofs, exterior concrete, landscaping, hardscaping, gutters, and siding. Additional materials already purchased for the property include TREX decking boards, steel doors, and electrical equipment. Electrical and gas supply still need to be brought to the building, but underground conduits are in place to accommodate these utilities. The ground floor is currently dirt, as electrical work was in progress before the installation of a new floor. There is space available for nine parking spaces. The property is located in Lasalle, IL, within the 61301 postal code area, and is zoned COMMR. The lot size is 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    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
    La Salle
    County
    LaSalle
    State
    Illinois
    Longitude
    -89.093373
    Latitude
    41.328329

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with six apartments and retail space potential.
    Where is this mixed-use property located?
    The property is located at 801 - 805 1st Street La Salle, IL.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Significant structural reinforcements, new roofs, exterior concrete, landscaping, hardscaping, gutters and siding already completed.; Six upscale apartments are fully framed with electrical and plumbing rough‑ins completed, and HVAC ductwork largely installed.; Additional materials purchased including TREX decking boards, steel doors, and electrical equipment.
    (630) 551-8005
    We can help!
    Listing Contact
    John Dunholter
    Real Estate License ID: 471000199
    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.

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