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    The Largest CRE Database in the US with Over 1 Million Listings

    8890 US Hwy 45 N Eldorado, IL 62930

    View on Map
    For Sale
    $99,000

    COMMERCIAL - Eldorado, IL

    Lot size:
    3.70 Acres
    Added:
    Mar 17, 2024
    Days on Market:
    752
    Last Refresh:
    Apr 7 at 6:06 am

    Property Features for 8890 US Hwy 45 N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    50
    Standard status
    Active
    APN
    04-1-099-10
    Lot size
    3.70 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    S15, T08, R07, QSW, L, B PT NW1/4 SW1/4 LYING SE OF RT 45 LESS ROW COMM NE COR ETC
    Tax Annual Amount
    2374

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating)
    Cooling system
    Window Unit(s), Wall/Window Unit(s)

    Building Details

    Year built
    1999
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Vinyl Siding, Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Marci R Watson
    Marci R Watson

    Listing agent Marci R Watson License #475127232

    Listing office All In One Real Estate Company 603 N. COMMERCIAL ST., Harrisburg, IL

    Listing date Mar 17, 2024

    MLS# EB452642

    Copyright © 2025 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

    Eldorado Commercial Property with Possibilities

    This commercial property in Eldorado, Illinois, presents endless possibilities with a great business location. The property was previously used as a lawn and garden, and car/farm equipment lot. The building has a little over 2000 square feet and includes electricity, septic system, heat, and air conditioning. Water would need to be hauled in or added. The previous seller hauled water in. The property features a small apartment with a full bath, kitchen, and bedroom. There is also a half bath with a washer and dryer. Outside, there is a covered front patio, a drive-through garage, a 20 x 20 detached garage, and an enclosed carport/garage. Heating is provided by three propane wall heaters, and there are two window units for cooling. Built-in desk, bar, and shelving stay with the property. A small pond is located in the wooded area. The lot size is 3.7 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Map

    City
    Eldorado
    County
    Saline
    State
    Illinois
    Longitude
    -88.418891
    Latitude
    37.834755

    Nearby Similar for Sale

    • $200,000

      Multi-Use Property on Route 45

      Four-unit property with restaurant, office/apartment space, and apartments.
      1216 US Hwy 45 Route, Eldorado, IL 62930
      View Details
    • $199,790
      12,000 SF

      Dollar General Investment Opportunity

      Dollar General leased property for sale below replacement cost.
      1217 US-45, Eldorado, IL 62930
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Versatile commercial property in Eldorado, IL, with multiple structures.
    Where is this parking lot & garage located?
    The property is located at 8890 US Hwy 45 N Eldorado, IL.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: Versatile Commercial Space: Over 2000 sq ft, previously a lawn and garden/equipment lot, offering a prime business location.; Functional Building: Includes electricity, septic system, heat, and A/C, plus a small apartment with full bath, kitchen, and bedroom.; Multiple Garage/Storage Options: Features a drive‑through garage and a 20x20 detached garage. Also includes an enclosed carport/garage.
    (618) 841-7952
    We can help!
    Listing Contact
    Marci R Watson
    Marci R Watson
    Real Estate License ID: 475127232
    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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