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    Elizabeth IL Turnkey Country Retreat Title is generated by Realmo AI

    115 Windmill, Elizabeth, IL 61028

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    For Sale
    $1,199,000

    Farm, 2 Story - ELIZABETH, IL

    Type:Farm
    Property size:
    730 SF
    Lot size:
    33.94 Acres
    Price / SF:
    $1,642/SF
    Added:
    Apr 20, 2026
    Days on Market:
    33
    Last Refresh:
    May 22 at 7:06 am

    Property Features for 115 Windmill

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    6
    Parking features
    Garage
    Interior features
    Great Room, Laundry First Floor
    Exterior features
    Garden Shed, Out Building(s)
    Basement Y/N
    1
    Standard status
    Active
    APN
    0700234900
    Size
    730 SF
    Lot size
    33.94 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    10698

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s)

    We can help!

    Listing Contact
    Brandon Beyer

    Listing agent Brandon Beyer License #471021761

    Listing office JIM SULLIVAN REALTY 725 N. Pearl St., Stockton, IL

    Listing date Apr 20, 2026

    MLS# 202602170 Listing URL

    Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey agritourism business opportunity with existing licenses and loyal client base
    • Stunning 34‑acre estate with diverse terrain, including a stocked pond, pastures, tillable acres, and wooded areas
    • Renovated century‑old barn with modern amenities and rustic charm, suitable for events or guest accommodations
    • Spacious six‑bedroom farmhouse with a commercial kitchen, main floor master and laundry, and panoramic views
    • Five guest cabins with heating and cooling, accommodating up to 8‑12 guests each
    • Heated pole shed, hay barn, chicken coops, pizza oven patio, campfire ring, and paved perimeter paths

    Overview

    Discover this turnkey country retreat and established agritourism business located on the edge of Elizabeth, Illinois. This estate spans 33.94 acres and blends renovated facilities with rustic charm, guest accommodations with primary residential space, and diverse terrain and infrastructure suitable for commercial or private uses. A winding blacktop lane passes a nearly two-acre stocked pond on the way to the farmstead, which includes a six-bedroom farmhouse and a renovated century-old barn. There are also five guest cabins and additional outbuildings and farm infrastructure. Positioned on the high point of the property, the farmhouse overlooks a majority of the property and the panoramic views beyond and features a spacious and open flow main floor, main floor master and laundry, three full bathrooms, and a full commercial kitchen. The barn has been completely renovated with modern amenities including multiple bathrooms and shower stalls with on-demand hot water, while maintaining its rustic charm with vaulted wood clad ceilings, exposed beams, wood floors, and warm lighting. Five guest cabins, each with heating and cooling, can host up to 8-12 camp kids per cabin or can easily be arranged for a more private Farm Stay weekend booking. Other outbuildings and infrastructure include a 90 X 46 heated pole shed, a hay barn, landscape shed, two chicken coops, wood-fired pizza oven patio area, campfire ring, and 1 mile of paved perimeter paths. The acreage is diverse and of rolling contour with multiple pastures and fencing set up for rotational grazing, vast lawn, garden and orchard areas, wooded areas, and nearly 6.5 tillable acres used for hay production. The pond is stocked with Largemouth Bass, Catfish and Bluegill and is accessible around the entire perimeter as well as from a beach area and dock area. The existing licenses are in place and there is a loyal, repeat client base. A new owner can build on the existing business foundation, use the property for their own personal country retreat or hobby farm, or put their own entrepreneurial dreams to reality and grow their own agritourism, venue and event, niche hospitality, or other business in a popular destination area near historic Downtown Galena and just a few hours from Chicago. The property size is 730 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Country Experience - Amstutz ... Family Recreation Center

    Suggested Use

    Auto Repair Shop Department Store Food Market HVAC Service Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Jo Daviess
    State
    Illinois
    Longitude
    -90.223794
    Latitude
    42.311868

    FAQs

    What type of property is this?
    Farm - 34-acre estate with farmhouse, barn, cabins, and diverse infrastructure.
    Where is this farm located?
    The property is located at 115 Windmill Elizabeth, IL.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: Turnkey agritourism business opportunity with existing licenses and loyal client base; **Stunning 34‑acre estate** with diverse terrain, including a stocked pond, pastures, tillable acres, and wooded areas; **Renovated century‑old barn** with modern amenities and rustic charm, suitable for events or guest accommodations
    (815) 275-3612
    We can help!
    Listing Contact
    Brandon Beyer
    Real Estate License ID: 471021761
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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    115 Windmill, ELIZABETH, IL 61028
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