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    965 Goreville Road unit 1-6 Goreville, IL 62939

    View on Map
    For Sale
    $774,000

    MULTI_FAMILY - Goreville, IL

    Lot size:
    4.68 Acres
    Added:
    Oct 15, 2025
    Days on Market:
    170
    Last Refresh:
    Apr 2 at 9:06 am

    Property Features for 965 Goreville Road unit 1-6

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Family Room
    Parking
    6
    Parking features
    Guest, Assigned, Carport
    Interior features
    Handicap Access, High Speed Internet, Recreation Room
    Accessibility
    Accessible Approach with Ramp, Accessible Doors
    Standard status
    Active
    APN
    01-16-403-000
    Lot size
    4.68 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    Property includes 4.68 acres
    TaxAnnualAmount
    11684

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2007
    Number of units
    6
    Building materials
    Brick Partial, Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    AMY GRAVES
    AMY GRAVES

    Listing agent AMY GRAVES License #475.127962

    Listing office REALTY 618 LLC 511 E Deyoung St, Marion, IL

    Listing date Oct 15, 2025

    MLS# EB460127

    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

    Profitable Senior Living Facility

    An established and profitable senior living facility is available, offering an opportunity for investment. The property includes 4.68 acres, presenting possibilities for constructing additional investment properties or a custom residential home. The location is near Interstate 57 and 5 miles from Ferne Clyffe State Park. Glenview Senior Apartments feature a secure lobby entrance with individual keypads, leading to a furnished 1458 sq ft common area that includes a private office, systems/storage room, and restroom. The property comprises 6 identical rental units, each approximately 1000 sq. ft., featuring 2 bedrooms, 1 full bath with a 5ft easy step-in shower, and an eat-in kitchen equipped with an electric range, refrigerator, dishwasher, garbage disposal, and stacked washer/dryer. Each unit includes an adjoining living room with a sliding door to an individual patio and green common space. Additional features include a blacktop drive and a 20'x72' 3-sided parking garage with tenant-assigned bays and storage units. The property has been fully occupied since opening, with tenants being private pay.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Senior Housing / Retirement ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Goreville
    County
    Johnson
    State
    Illinois
    Longitude
    -88.9892237
    Latitude
    37.5564478

    Nearby Similar for Sale

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      New Cabins at Lake Egypt

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    • $340,000

      Goreville Commercial Property with Apartments

      Commercial space with office, apartment, and additional apartment units.
      400 S BROADWAY, Goreville, IL 62939
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    • $140,000
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      Downtown Goreville Office Building

      Well-maintained office building in downtown Goreville with high visibility.
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      View Details

    FAQs

    What type of property is this?
    Senior housing / Retirement Home - Established senior living facility with expansion potential on 4.68 acres.
    Where is this senior housing / retirement home located?
    The property is located at 965 Goreville Road unit 1-6 Goreville, IL.
    What is the asking price?
    The asking price for this property is $774,000.
    What are key features of this property?
    This property features: Established, profitable senior living facility with 100% occupancy since opening.; 4.68 acres included, offering potential for expansion or residential development.; Six identical rental units, each approximately 1000 sq. ft. with 2 bedrooms, 1 bath, eat‑in kitchen, and private patio.
    (618) 922-7779
    We can help!
    Listing Contact
    AMY GRAVES
    AMY GRAVES
    Real Estate License ID: 475.127962
    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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