Listed By: Krystel Gonzalez · License #475185100 Show Phone

Source: Remaxadream

Added: Jul 10 Changed: Oct 4 Last Checked: Oct 4 at 6:38AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Krystel Gonzalez

Investment Insights

Based on property information with market context.

The property consists of five separate parcels totaling 119.45 acres of agricultural land, previously used as an agricultural research center. It includes two metal buildings in excellent condition, totaling nearly 9,000 square feet of adaptable indoor space, with newer flooring in the primary building and abundant storage areas.

The buildings are each supported by their own 200 amp breaker box, which can accommodate most industrial power requirements. The existing infrastructure is described as maintained and updated, supporting immediate functionality for agricultural or related operations.

With multiple parcels and warehouse-style structures already in place, the site offers a straightforward platform for agricultural endeavors alongside practical on-site storage and work space within the existing buildings.

Key Highlights

• 119.45‑acre agricultural property on county road frontage (900 ft) with gravel road surface
• Former agricultural research center on five separate parcels
• Two metal buildings in excellent condition totaling nearly 9,000 sq ft of adaptable space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$111,583

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,231,660 $2.2M

Cap Rate 7%

$1,594,043 $1.6M

Cap Rate 9%

$1,239,811 $1.2M

Market Conditions

NOI Build-Up for 9,000 SF

Gross rent

$140.4K $15.60/SF

− Vacancy

−$9.1K −$1.01/SF

EGI

$131.3K $14.59/SF

− OpEx

−$19.7K −$2.19/SF

NOI

$111.6K $12.40/SF

Area

Boone County, IL

Vacancy

6.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,231,660

Cap Rate 7%

$1,594,043

Cap Rate 9%

$1,239,811

Alternative Uses

Best Use

Warehouse

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,583 @ 7.0% cap · market cap 5.87%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,573 @ 7.0% cap · market cap 8.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Agricultural land / Farmland

Suggested Use

Top Pick Plumbing Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 61012, IL

2,160

Population

788

Households

2.7

Avg Household Size

37

Median Age

22%

College-Educated

83%

High-School Grad

36.2 sq mi

ZIP Area

60

Density / Sq Mi

$98,750

Median Household Income

$35,691

Median Earnings

$800

Median Rent

$168,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this agricultural land / farmland located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Agricultural land / Farmland - 119+ acres of farmland with two metal buildings totaling nearly 9,000 sq. ft. and separate 200-amp electrical service.

Where is this agricultural land / farmland located?

The property is located at 11635 Wange Road Capron Capron, IL.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 119.45‑acre agricultural property on county road frontage (900 ft) with gravel road surface; Former agricultural research center on five separate parcels; Two metal buildings in excellent condition totaling nearly 9,000 sq ft of adaptable space