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407 N Ash Ave Forreston, IL 61030

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For Sale
$1,050,000

Land with income potential in Forreston, Illinois.

Lot size:
1.20 Acres

Property Features for 407 N Ash Ave

General Information

Lot size
1.20 Acres

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Listing Contact
Enon Winkler
Enon Winkler
Source: Moodyscre

Listing Agent: Enon Winkler

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

Forreston Land with Income Potential

This property presents an opportunity for income generation through infilling the remaining five vacant sites within a stabilized community. The streets within the property are owned and maintained by The City of Forreston. Projections indicate the potential to achieve a total operating income of $225,158 by year five, along with a cash-on-cash return of 21.46% by year three. The estimated value in year three is approximately $2,200,000, based on underwriting at a 7.00% cap rate. Partial seller financing is available, with an amount of $115,000, a 6.00% interest rate, and a term of 3-5 years.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Mobile home & RV ...

Suggested Use

Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Bar & Pub

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

Location Insight

  • Map
  • Local Demand
City
Forreston
County
State
Illinois
Longitude
-89.575837
Latitude
42.122171

FAQs

What type of property is this?
Land - Land with income potential in Forreston, Illinois.
Where is this land located?
The property is located at 407 N Ash Ave Forreston, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: - Ability to achieve a **cash-on-cash return of 21.46% by year three**; - Potential to achieve a total operating income of $225,158 by year five; - Estimated value in year three of ~$2,200,000 based on our underwriting at a 7.00% cap rate
More about this property
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