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    328 State St Jacksonville, IL 62650

    Sponsored
    For Sale
    $69,900

    Prime location, 1710 sq ft, income-producing apartment.

    Property size:
    1,710 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    340
    This 1710-square-foot commercial building is ideally situated on East State Street in Jacksonville, Illinois. Its prime location boasts high visibility, being adjacent to the KC Hall, across from Trinity Church and the Jacksonville Area Museum, and near the Jacksonville Area Convention and Visitors Bureau. The building features a large storefront window perfect for showcasing merchandise, a spacious main room measuring 65x18 feet, restrooms, and a small kitchen area. An added benefit is a 2-bedroom apartment on the upper level currently generating $450 in monthly rent. The full basement provides ample storage space. The property also includes a charming garden area with substantial hardscaping. The building's previous use included party bookings, presenting diverse possibilities for a new owner. The building has two HVAC units—one upstairs in the apartment and one in the basement for the main floor. Utilities are mostly separate, with the owner responsible for the main level's water bill. The upstairs appliances belong to the tenant, who requires 48-hour notice for showings. The zoning is B3—Business—Limited Business District. The roof age is unknown

    Property Features for 328 State St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,710 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
    Jacksonville
    County
    Morgan
    State
    Illinois
    Longitude
    -90.22572
    Latitude
    39.73445

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    FAQs

    What type of property is this?
    Commercial real estate - Prime location, 1710 sq ft, income-producing apartment.
    Where is this commercial real estate located?
    The property is located at 328 State St Jacksonville, IL.
    What is the asking price?
    The asking price for this property is $69,900.
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    328 State St Jacksonville, IL 62650
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    Jacksonville, IL 62650
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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
    328 State St Jacksonville, IL 62650
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