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

    875 N Monroe St Decatur, IL 62522

    Sponsored
    For Sale
    Contact for pricing

    LAND - Decatur, IL

    Lot size:
    0.35 Acres
    Days on Market:
    133
    Last Refresh:
    Jan 24 at 5:06 am

    Property Features for 875 N Monroe St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    04121038002500
    Lot size
    0.35 Acres

    We can help!

    Listing Contact
    Henry Torn

    LISTWITHFREEDOM.COM (855) 456-4945

    Listing agent Henry Torn (855) 456-4945

    Listing date Sep 14, 2025

    MLS# 12456715 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Commercial Land in Decatur, IL

    Located at 875 Monroe Street in Decatur, IL, this commercial land offers an opportunity for businesses to expand or establish a new location. The property is strategically positioned on Monroe Street, providing access to major roads and proximity to downtown Decatur and local attractions. The location is suitable for retail, office space, or other commercial developments, offering visibility and traffic potential. It is located minutes away from downtown Decatur and key business hubs, close to residential neighborhoods with a potential customer base, and near parks, schools, and community services. The lot size is 0.35 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.963988
    Latitude
    39.849633

    Nearby Similar for Sale

    • $2,350,000

      65-Unit Multifamily Investment Opportunity

      High-yield multifamily property near Millikin University with value-add potential.
      1740-1760 S Fairview Ave, Decatur, IL 62521
      View Details
    • $539,000
      1.67 Acres

      Decatur Industrial Warehouse on Route 121

      Industrial warehouse on Route 121 with easy Interstate access.
      2627 Route 121 N, Decatur, IL 62526
      View Details
    • $800,000
      14,500 SF

      Mixed-Use Property with Income Potential

      Value-add investment opportunity in Decatur's downtown commercial corridor.
      334 W Main St, Decatur, IL 62522
      View Details
    • $1,247,500
      10,160 SF

      Decatur Commercial Investment Opportunity

      Well-maintained commercial property with established tenants and strong returns.
      3090 N Main St, Decatur, IL 62526
      View Details
    • $825,000
      32,995 SF

      Industrial Warehouse on 2.84 Acres

      32,995 SF industrial warehouse on 2.84 acres for sale.
      2881 E Parkway Dr, Decatur, IL 62526
      View Details
    • $650,000
      19 SF

      Decatur Industrial Building with Yard

      Industrial property featuring three structures and a fenced laydown yard.
      765 E Pythian Ave, Decatur, IL 62526
      View Details
    • $489,000
      4,996 SF

      Fully Leased Office Investment Property

      Fully leased office building with high visibility and future development potential.
      1110 Arbor Dr, Decatur, IL 62526
      View Details
    • $65,000
      1,050 SF

      Decatur Mixed-Use Property For Sale

      Versatile commercial/residential property in Decatur, ideal for investors/entrepreneurs.
      609 E Van Buren Ave, Decatur, IL 62526
      View Details
    • $297,600
      7,288 SF

      Eldorado Street Investment Opportunity

      Two-story brick building near downtown and Millikin University.
      535 W Eldorado St, Decatur, IL 62522
      View Details
    • $279,000
      3,000 SF

      Decatur Bar and Billiards Venue

      Established bar and billiards venue with a loyal customer base.
      858 W Green St, Decatur, IL 62522
      View Details
    • $675,000
      11,884 SF

      248 N Park St, Decatur, IL

      Mixed-use properties • 11,884 SF
      248 N Park St, Decatur, IL 62523
      View Details
    • $133,500
      2,911 SF

      Commercial Auto Garage For Sale

      Commercial auto garage on a double corner lot.
      989 W Harrison Ave, Decatur, IL 62526
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land in Decatur, IL, great for development.
    Where is this commercial land located?
    The property is located at 875 N Monroe St Decatur, IL.
    What is the asking price?
    The asking price for this property is $4,400.
    What are key features of this property?
    This property features: - Prime commercial land in Decatur's commercial district on Monroe Street.; - High visibility and high traffic location.; - Suitable for retail, office space, or mixed-use commercial developments.
    (855) 456-4945
    Request Owner's contact information
    875 N Monroe St Decatur, IL 62522
    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.
    875 N Monroe St
    Decatur, IL 62522
    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
    875 N Monroe St Decatur, IL 62522
    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
    Henry Torn
    Real Estate License ID: 478027424
    (855) 456-4945
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.