Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Galena Meadows Title is generated by Realmo AI

    Sproule Lane lot 73, Galena, IL 61036

    View on Map
    Claim this Listing
    For Sale
    $49,500

    LAND - GALENA, IL

    Lot size:
    0.52 Acres
    Added:
    Aug 19, 2016
    Days on Market:
    3580
    Last Refresh:
    Jun 7 at 12:06 pm

    Property Features for Sproule Lane lot 73

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    431300110701
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Description
    To follow on Deed

    We can help!

    Listing Contact
    DAMON HEIM
    DAMON HEIM

    Listing agent DAMON HEIM License #471000758

    Listing office COLDWELL BANKER NETWORK REALTY 401 S MAIN ST., Galena, IL

    Listing date Aug 19, 2016

    MLS# 132041 Listing URL

    Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Convenient location within the city, close to schools and shopping.
    • City water and sewer access.
    • Secluded feel within the Galena Scenic Meadows Subdivision.
    • Sidewalks in place.
    • Adjoins Indian Ridge Subdivision.
    • Mix of open space and trees on a rear sloping lot.

    Overview

    This 0.52-acre lot is located in the Galena Scenic Meadows Subdivision. The rear sloping lot features a mix of open space and trees. The subdivision offers a secluded feel within the city, while remaining conveniently located near schools and shopping. City water and sewer are accessible, and sidewalks are in place. The subdivision adjoins Indian Ridge Subdivision. Covenants and restrictions apply.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Galena
    County
    Jo Daviess
    State
    Illinois
    Longitude
    -90.4320976
    Latitude
    42.4322019

    Nearby Similar for Sale

    • $749,900
      4,600 SF

      Versatile Commercial Space in Galena

      Multi-faceted commercial complex with office and warehouse space.
      11470 Industrial Drive, GALENA, IL 61036
      View Details
    • $200,000
      2,250 SF

      Specialty Cremation Facility Building

      Specialty property with city water and sewer on a 0.55-acre lot, including key operating equipment and spaces.
      1214 N West Street, GALENA, IL 61036
      View Details
    • $914,000
      6,000 SF

      Galena Commercial Property with Warehouse

      6,000 SF retail space with 3,750 SF warehouse.
      1233 N Franklin Street, GALENA, IL 61036
      View Details
    • $1,700,000
      11,400 SF

      Two-Level Retail and Office Building

      Two-level, multi-tenant building with retail showroom and office suites on a highly visible highway corridor.
      800 Spring Street, Galena, IL 61036
      View Details
    • $1,550,000

      Prime Land in Galena, IL

      11.33 acres in Galena, city utilities available.
      9146 US Hwy 20 W, GALENA, IL 61036
      View Details
    • $30,000

      Galena Territory Buildable Homesite

      Buildable homesite with views and access to community amenities.
      3 Beacon Trail, Galena, IL 61036
      View Details
    • $140,000

      Wooded Homesite in Galena Territory

      Secluded 1.84-acre homesite near Eagle Ridge Resort & Spa.
      14 Cinnamon Drive, GALENA, IL 61036
      View Details
    • $1,132,000

      6.93 Acres in Galena, IL

      6.93 acres near Gateway Park with city utilities.
      US HWY 20 W lot: 1, GALENA, IL 61036
      View Details
    • $13,900

      Wooded Homesite in Galena Territory

      1.46 acre wooded homesite with access to Galena Territory amenities.
      447 Territory Drive, Galena, IL 61036
      View Details
    • $11,900

      Wooded Homesite in Galena Territory

      1.31 acre wooded homesite with access to Galena Territory amenities.
      449 Territory Drive, Galena, IL 61036
      View Details
    • $1,295,000
      5,655 SF

      Rehabbed Commercial Building in Galena

      Investment property with leased and vacant space in Galena, IL.
      11358 Industrial Drive, Galena, IL 61036
      View Details
    • $120,000

      Land Near Galena Recreation Park

      7.92 acres near Galena with stream and wooded acreage.
      8244 Creek Crossing Court, GALENA, IL 61036
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Rear sloping lot with open space and trees.
    Where is this residential land & home lot located?
    The property is located at Sproule Lane lot 73 Galena, IL.
    What is the asking price?
    The asking price for this property is $49,500.
    What are key features of this property?
    This property features: Convenient location within the city, close to schools and shopping.; City water and sewer access.; Secluded feel within the Galena Scenic Meadows Subdivision.
    (815) 266-2427
    We can help!
    Listing Contact
    DAMON HEIM
    DAMON HEIM
    Real Estate License ID: 471000758
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    Sproule Lane lot: 73, GALENA, IL 61036
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!