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    121 Elm St Alton, IL 62002

    For Sale
    $285,000

    Prime Commercial Redevelopment Opportunity

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    310
    This exceptional 2.18-acre property in Alton, Illinois, presents a unique investment prospect. The former school building at 121 W Elm Street offers a wealth of potential for adaptive reuse. Its classic architecture, high ceilings, and abundant natural light create a captivating atmosphere. The expansive interior includes multiple classrooms, a gymnasium, an auditorium, a kitchen, and administrative offices, providing flexibility for diverse projects. The layout allows for creative repurposing into various commercial ventures. Imagine transforming this landmark into trendy loft apartments, a vibrant co-working space, or a unique condominium complex. The spacious outdoor area offers ample room for expansion, recreational amenities, or beautifully landscaped communal gardens. The property's size and versatility make it ideal for a variety of uses, including a private school, daycare center, or vocational training center. The building's substantial size and desirable location in Alton present a rare opportunity to acquire a significant property with immense potential for substantial return on investment. The asking price is $285,000. This is a chance to acquire a piece of Alton's history and shape its future.

    Property Features for 121 Elm St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    94,961 SF

    Building Details

    Year Built
    1907
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McKinley Elementary School Elementary School

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison-IL
    State
    Illinois
    Longitude
    -90.18705
    Latitude
    38.92064

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Commercial Redevelopment Opportunity
    Where is this commercial real estate located?
    The property is located at 121 Elm St Alton, IL.
    What is the asking price?
    The asking price for this property is $285,000.
    465-2966
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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
    121 Elm St Alton, IL 62002
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