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    601 Sparta St Steeleville, IL 62288

    Sponsored
    For Sale
    $85,000

    Versatile commercial property with apartment, high visibility.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This 0.19-acre commercial property located at 601 N Sparta Street, Steeleville, IL, is priced at $85,000 and presents a unique investment opportunity. Previously operating as a laundromat, the building retains all the necessary plumbing and electrical hookups for continued use as such. This provides a significant advantage for a prospective buyer looking to quickly establish a similar business. However, the adaptable layout and existing infrastructure make it equally suitable for a wide range of alternative commercial ventures. The property enjoys a high-visibility location, ensuring excellent exposure to potential customers. A key feature is the inclusion of an on-site apartment, offering the potential for supplemental rental income or convenient owner occupancy. Adding to its appeal, this property is eligible for liquor and/or gaming licenses, opening doors to additional revenue streams and business expansion possibilities. The building's square footage is not currently specified. This versatile property offers a rare blend of established infrastructure, prime location, and significant income-generating potential, making it an attractive proposition for entrepreneurs and investors alike.

    Property Features for 601 Sparta St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    8,276 SF

    Building Details

    Year Built
    1973
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Steeleville
    County
    Randolph-IL
    State
    Illinois
    Longitude
    -89.65866
    Latitude
    38.00998

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Commercial real estate - Versatile commercial property with apartment, high visibility.
    Where is this commercial real estate located?
    The property is located at 601 Sparta St Steeleville, IL.
    What is the asking price?
    The asking price for this property is $85,000.
    226-6447
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    601 Sparta St Steeleville, IL 62288
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    Steeleville, IL 62288
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    Realmo Value Estimation

    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.

    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.

    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
    601 Sparta St Steeleville, IL 62288
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