Your AI Navigator in Commercial Real Estate
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

    87Th St Monmouth, IL 61462

    Sponsored
    For Sale
    $45,000

    Vacant Land - Monmouth, IL

    Lot size:
    0.84 Acres
    Days on Market:
    282
    Last Refresh:
    Jan 21 at 10:06 am

    Property Features for 87Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    09-021-002-07
    Parking features
    Garage
    Lot size
    0.84 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    John Doyle

    Doyle & Associates Realty, LLC (309) 734-7253

    Listing agent John Doyle (309) 734-7253

    Listing date Apr 15, 2025

    MLS# 11077446 Listing URL

    Copyright © 2026 My State MLS. 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

    Residential Lot near Golf Course

    This large corner residential building lot is located adjacent to Gibson Woods Golf Course on the southwest corner as you enter Wedgewood Dr. in Monmouth, Illinois. The lot offers a view of the municipal golf course, with the Number 7 Tee box located directly south. It features 133 feet of frontage along Wedgewood Dr. and 240 feet along Gibson Woods Golf course. The property is located within the United School District, and the tax rate is 34% less than within the City Limits of Monmouth or Galesburg. The lot size is 0.84 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Monmouth
    County
    Warren
    State
    Illinois
    Longitude
    -90.617491
    Latitude
    40.933572

    Nearby Similar for Sale

    • $490,900
      16,984 SF

      Monmouth Commercial Property on Five Acres

      Commercial property with three buildings on five acres in Monmouth.
      1420 North Main St, Monmouth, IL 61462
      View Details
    • $398,500
      3,648 SF

      Retail Property on North Main

      3648 SF retail space with parking in Monmouth, Illinois.
      420 North Main St, Monmouth, IL 61462
      View Details
    • New
      $295,000
      3,480 SF

      Leased Commercial Property in Monmouth

      Three leased offices, including Secretary of State Driver's License Services.
      318 North Main St, Monmouth, IL 61462
      View Details
    • $1,203,745

      Productive Farmland with Income Potential

      Tillable farmland with high productivity index and income potential.
      0000 W Knox Rd, Monmouth, IL 61462
      View Details
    • $450,000
      12,915 SF

      classrooms

      2 offices
      1100 Jackson Ave, Monmouth, IL 61462
      View Details
    • $396,423
      3,253 SF

      Monmouth Animal Hospital NNN

      IL Medical Office Investment: 8.5% Cap Rate
      360 11Th St, Monmouth, IL 61462
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Large corner lot with golf course views in Monmouth, Illinois.
    Where is this residential land & home lot located?
    The property is located at 87Th St Monmouth, IL.
    What is the asking price?
    The asking price for this property is $45,000.
    What are key features of this property?
    This property features: - Large corner lot adjacent to Gibson Woods Golf Course.; - Located on the southwest corner of Wedgewood Drive.; - Enjoy views of the Number 7 Tee box on the municipal golf course.
    (309) 734-7253
    Request Owner's contact information
    87Th St Monmouth, IL 61462
    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.
    87Th St
    Monmouth, IL 61462
    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
    87Th St Monmouth, IL 61462
    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
    John Doyle
    (309) 734-7253
    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.