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    223 Main St Knoxville, IL 61448

    Sponsored
    For Sale
    $220,000

    Renovated income property, prime location.

    Property size:
    3,040 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This stunning, completely renovated two-story brick commercial building at 223 E Main Street in Knoxville, IL, presents a rare opportunity to acquire a turn-key income-generating property. Boasting 3,040 square feet, the building features a captivating new façade highlighted by a floor-to-ceiling glass entryway. The main floor offers versatile retail space ideal for a variety of businesses, complete with a full bathroom, enhancing its adaptability. Currently leased, this space provides immediate income potential. Upstairs, a spacious and charming two-bedroom, one-bathroom loft-style apartment awaits. This modern apartment seamlessly blends contemporary design with historic character, showcasing exposed brick and lathe and plaster walls. The open studio-style layout includes a large eat-in kitchen, wide hallways, and a massive living room bathed in natural light from expansive new windows offering picturesque views of downtown Knoxville. The apartment's modern conveniences include a full complement of appliances, including a washer and dryer, ensuring a hassle-free experience for tenants. This property is priced at $220,000 and represents an exceptional investment opportunity in a highly desirable location. Don't miss the chance to own this beautifully modernized building with historic charm and immediate income potential.

    Property Features for 223 Main St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,040 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Knoxville
    County
    Knox
    State
    Illinois
    Longitude
    -90.28239
    Latitude
    40.90824

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    Nearby Similar for Sale

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      Knoxville Restaurant & Office Complex

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      221 Main St, Knoxville, IL 61448
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    FAQs

    What type of property is this?
    Commercial real estate - Renovated income property, prime location.
    Where is this commercial real estate located?
    The property is located at 223 Main St Knoxville, IL.
    What is the asking price?
    The asking price for this property is $220,000.
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    223 Main St Knoxville, IL 61448
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    Knoxville, IL 61448
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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
    223 Main St Knoxville, IL 61448
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