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    1902 N County Road 3000 N Rantoul, IL 61866

    Sponsored
    For Sale
    $233,000

    COMMERCIAL - Rantoul, IL

    Lot size:
    3.01 Acres
    Days on Market:
    31
    Last Refresh:
    Jan 14 at 12:06 pm

    Property Features for 1902 N County Road 3000 N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    110432300002
    Lot size
    3.01 Acres

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    1965
    Floors in Building
    1
    Flooring type
    Carpet, Varies
    Building materials
    Brick, Block
    Roof type
    Composition

    eXp Realty, LLC (888) 574-9405 [email protected]

    Listing agent Jennifer McLennand (217) 390-7149

    Listing date Dec 15, 2025

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Unique Rantoul Property with Possibilities

    This property, located approximately one mile east outside Rantoul city limits on Rt 136, offers a range of potential uses. Situated on 3.01 acres zoned Agriculture, the property allows for applying for zoning variance for residential or commercial use. The red brick building features an amazing vaulted, wood framed, planked, and beamed cathedral ceiling with an approximate height of 24' at center. The congregation area spans approximately 3,000 square feet, with an additional 1800 SF building attached that currently has no HVAC. The buyer can renovate or remove this attached building. A shed is also present on the property. The total square footage of the main building is 4800 SF, not including classroom areas, entryway, foyer and upper floor. A complete tear off of 3 layers of shingles and new roof was installed late March of 2024 with 35 year warrantied architectural shake shingles, 10 yr. warranty by Central Roofing on the install. Potential uses include a reception hall or event venue, daycare center, community living, church, offices with large meeting hall, retail/antique mall, shelter for animals or people, doctor or dentist offices, restaurant/bar, or private school. The property could also be converted into a residential home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Realty agency Building Supply Food Market Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Rantoul
    County
    Champaign
    State
    Illinois
    Longitude
    -88.096764
    Latitude
    40.312453

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    FAQs

    What type of property is this?
    Church & religious facility - Versatile 4800 SF property on 3 acres near Rantoul.
    Where is this church & religious facility located?
    The property is located at 1902 N County Road 3000 N Rantoul, IL.
    What is the asking price?
    The asking price for this property is $233,000.
    What are key features of this property?
    This property features: - New roof installed in March 2024 with 35-year warranty on architectural shake shingles and 10-year warranty on installation.; - Large 4800 sq ft brick building plus an additional attached 1800 sq ft building on 3 acres.; - Zoned Agriculture with potential for residential or commercial rezoning.
    (217) 390-7149
    Request Owner's contact information
    1902 N County Road 3000 N Rantoul, IL 61866
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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.

    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
    1902 N County Road 3000 N Rantoul, IL 61866
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