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Property profile & analytics
OFF-MARKET Estimated value $225,000
Office Spaces

601 Sparta St Steeleville, IL 62288-1536

0.19 ac lot
Entity Owned Absentee Owner Free & Clear
Property ID
US28-4223911
Property summary
AI-generated overview

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 profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Lot 0.19 ac (8,400 SF)
APN 17-020-009-00
UPID US28-4223911
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$305k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$225k
Owner & transaction history
Pbr Holdings LLC
Pbr Holdings LLC
since 2026
Last sale
$350,000
6 recorded transactions
2026
$40,000
2024
Price N/A
2024
Price N/A
2022
Price N/A
2022
Price N/A
2021
$350,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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