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    Recreational Farmland Tract Title is generated by Realmo AI

    1712 Tax School Road, Lacon, IL 61540

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    For Sale
    $403,725

    44-acre farm with productive tillable ground, established deer habitat, and road frontage on three sides for flexible access.

    Type:Land
    Lot size:
    44.00 Acres
    Added:
    May 28, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 2:26 am

    Property Features for 1712 Tax School Road

    General Information

    Standard status
    Active
    Lot size
    44.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Brad Belser

    Listing agent Brad Belser License #475.164898

    Listing office Jim Maloof Realty, Inc.

    Listing date May 28, 2026

    Source Compass

    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 Jim Maloof Realty, Inc.

    HighLights

    • 44± acre farm in Marshall County, a few miles northeast of Lacon, IL and less than 2 miles west of Lake Wildwood
    • Approximately 26± acres of productive tillable ground with a 120 PI
    • Balance of acreage includes thick bedding cover and mature timber
    • Gently rolling topography with habitat diversity and established food plot locations
    • Road frontage on three sides with convenient access from the south, east, and west
    • Includes exterior grain bin(s)

    Overview

    This 44± acre farm offers a working agricultural component alongside strong recreational features. Approximately 26± acres are productive tillable ground with a stated 120 PI, providing a base of farmable acreage. The remainder of the tract is described as thick bedding cover, mature timber, and food plot areas designed to support year-round deer habitat. The property is characterized by gently rolling topography and habitat diversity that can support both hunting and holding deer, with an additional noted area that could support a future pond or lake.

    Located a few miles northeast of Lacon, Illinois, the tract is also less than two miles west of Lake Wildwood in Marshall County. Access is a key benefit, with road frontage on three sides providing convenient entry points from the south, east, and west.

    For buyers seeking farmland with income-producing ground and practical outdoor use, this layout provides a mix of tillable acreage and established cover for hunting. It also supports long-term flexibility for the next owner, including the option to develop additional water features and maintain the property as a rural homesite and recreation base where the existing habitat structure can be preserved and managed.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lacon
    County
    Marshall
    State
    Illinois
    Longitude
    -89.328256
    Latitude
    41.081889

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 44-acre farm with productive tillable ground, established deer habitat, and road frontage on three sides for flexible access.
    Where is this agricultural land / farmland located?
    The property is located at 1712 Tax School Road Lacon, IL.
    What is the asking price?
    The asking price for this property is $403,725.
    What are key features of this property?
    This property features: 44± acre farm in Marshall County, a few miles northeast of Lacon, IL and less than 2 miles west of Lake Wildwood; Approximately 26± acres of productive tillable ground with a 120 PI; Balance of acreage includes thick bedding cover and mature timber
    (309) 231-1449
    We can help!
    Listing Contact
    Brad Belser
    Real Estate License ID: 475.164898
    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.

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