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    500-508 Broadway St Lincoln, IL 62656

    Sponsored
    For Sale
    $350,000

    Prime Location, 11,000 sq ft, $350,000

    Property size:
    11,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 11,000-square-foot commercial building at 500-508 Broadway Street in Lincoln, Illinois, presents a unique investment opportunity. For over a century, this property served as the headquarters for the State Bank of Lincoln, offering a rich history and established presence within the community. The building boasts a substantial layout featuring twenty-plus private offices, multiple restrooms, and four spacious conference rooms. The impressive lobby is highlighted by high ceilings, adding to the building's grandeur. A significant feature is the inclusion of a large, walk-in vault, providing ample secure storage space. The seller, Heartland B&T, envisions a repurposing of this facility to better serve the Lincoln community. This presents a remarkable chance for creative redevelopment, transforming this landmark building into a valuable asset for the area. The property's size and existing infrastructure offer considerable flexibility for a variety of commercial uses. Its central location on Broadway Street ensures high visibility and accessibility. The asking price of $350,000 represents a compelling value for a property of this scale and historical significance. This is an exceptional opportunity to acquire a substantial commercial property with significant potential in a thriving Illinois community.

    Property Features for 500-508 Broadway St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    11,000 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.36272
    Latitude
    40.14725

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Location, 11,000 sq ft, $350,000
    Where is this commercial real estate located?
    The property is located at 500-508 Broadway St Lincoln, IL.
    What is the asking price?
    The asking price for this property is $350,000.
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    500-508 Broadway St Lincoln, IL 62656
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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
    500-508 Broadway St Lincoln, IL 62656
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