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    300 Church St Salem, IL 62881

    Sponsored
    For Sale
    $96,000

    Downtown Salem, IL - Versatile Commercial Space

    Property size:
    1,113 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This 1,113 square foot commercial building is ideally situated just two blocks south of West Main Street in Salem, Illinois. The property offers significant potential for a variety of businesses, boasting two large office suites, a convenient kitchenette, and ample storage space. An oversized safe is included in the sale. Covered parking is available for tenants and employees, supplemented by a large, additional parking lot. Currently, a portion of the north parking lot generates a monthly income of $100 through a separate lease. This income stream represents an added benefit for the new owner. The building's versatile layout allows for customization to suit diverse business needs. The property is eligible for potential city grants and incentives, providing an attractive opportunity for entrepreneurs seeking financial assistance. This presents a unique chance to acquire a well-located commercial property with existing income potential and the possibility of further financial support. The building's central location and ample parking make it an attractive option for a wide range of commercial ventures. Serious inquiries are encouraged to explore the possibilities this property offers. The property is being sold as-is.

    Property Features for 300 Church St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,113 SF

    Building Details

    Year Built
    1972
    Property Profile Location Intelligence

    Current Use by Public Records

    Harness Justin Insurance Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Illinois
    Longitude
    -88.9477
    Latitude
    38.62564

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    FAQs

    What type of property is this?
    Commercial real estate - Downtown Salem, IL - Versatile Commercial Space
    Where is this commercial real estate located?
    The property is located at 300 Church St Salem, IL.
    What is the asking price?
    The asking price for this property is $96,000.
    Request Owner's contact information
    300 Church St Salem, IL 62881
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    Salem, IL 62881
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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
    300 Church St Salem, IL 62881
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