Storefront Property with Outdoor
For Sale
$189,000
Pending
126 Walnut Street, Washington, IL 61571
Commercial Sale, Washington, IL
Property Size1,184 SF
Lot Size0.12 Acres
Days on Market302
Property Features for 126 Walnut Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
This property is in the same block as the new Tangled Roots rerstaurant located at the corner of Washington Square and Walnut Street.
Subdivision
Washington
Standard status
Pending
APN
020224108020
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4333
Utilities
Cooling system
Central Air
Building Details
Year built
1917
Floors in Building
1
Listing Agency:
Brummel Properties, Inc.
(630) 551-8005
Listed By:
Laura Tomsa · License #471016446
(630) 347-3207
Added: Dec 7, 2025
Changed: Sep 10
Last Checked: Oct 5 at 3:06PM
MLS# 12529064
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 126 Walnut Street in Washington, Illinois, this one-story storefront property contains 1,184 square feet on a 5,000-square-foot lot. The building sits toward the front corner of the parcel, leaving a substantial open area behind it. Interior updating is needed, and the HVAC system requires repair or replacement. Central air is present, and the property dates to 1917.
The parcel is adjacent to the former Knights of Columbus building at 120 Walnut Street. An earlier concept contemplated using both properties for an event center, with this site’s open area supporting outdoor special events. The property is zoned COMMR and is being sold as-is.
The parcel is adjacent to the former Knights of Columbus building at 120 Walnut Street. An earlier concept contemplated using both properties for an event center, with this site’s open area supporting outdoor special events. The property is zoned COMMR and is being sold as-is.
Key Highlights
- 1,184‑square‑foot one‑story storefront building
- 5,000‑square‑foot lot with open land area
- Central air in place; HVAC requires repair or replacement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,189
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,780
$223.8K
Cap Rate 7%
$159,843
$159.8K
Cap Rate 9%
$124,322
$124.3K
Market Conditions
NOI Build-Up for 1,184 SF
Gross rent
$17.8K $15.00/SF
− Vacancy
−$1.8K −$1.50/SF
EGI
$16.0K $13.50/SF
− OpEx
−$4.8K −$4.05/SF
NOI
$11.2K $9.45/SF
Area
Tazewell County, IL
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,780
Cap Rate 7%
$159,843
Cap Rate 9%
$124,322
Alternative Uses
Best Use
Retail
$159.8K
$139.9K – $186.5K
NOI $11,189 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$463.3K
$405.4K – $540.5K
NOI $32,432 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61571, IL
24,766
Population
10,273
Households
2.4
Avg Household Size
40
Median Age
38%
College-Educated
98%
High-School Grad
53.5 sq mi
ZIP Area
463
Density / Sq Mi
$87,852
Median Household Income
$48,329
Median Earnings
$996
Median Rent
$200,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - One-story storefront with open land area and central air, offered in its current condition for buyer-directed improvements.
Where is this storefront property located?
The property is located at 126 Walnut Street Washington, IL.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 1,184‑square‑foot one‑story storefront building; 5,000‑square‑foot lot with open land area; Central air in place; HVAC requires repair or replacement
