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    Mixed-Use Multifamily and Daycare Property Title is generated by Realmo AI

    250 Peru Street, Paw Paw, IL 61353

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    For Sale
    $230,000

    MULTI_FAMILY - Other - Paw Paw, IL

    Added:
    May 7, 2026
    Days on Market:
    30
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 250 Peru Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Laundry Room, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 5, Bedroom 4, Bathroom 3, Bedroom 1, Utility Room, Bathroom 4, Basement, Bathroom 2
    Parking
    7
    Parking features
    Off Street, Off Alley, Garage, Driveway, Owned
    Window features
    Screens
    Patio and Porch features
    Patio
    Fencing
    Fenced
    Basement
    Finished, Daylight, Full, Exterior Entry
    Standard status
    Active
    APN
    22181047602500

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6004

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1891
    Building materials
    Frame
    Roof type
    Asphalt
    Architectural style
    Other
    Additional Structures
    Second Garage

    We can help!

    Listing Contact
    Wendi Sleezer
    Wendi Sleezer

    Listing agent Wendi Sleezer

    Listing office Swanson Real Estate 503 E. Church Street, Sandwich, IL

    Listing date May 7, 2026

    MLS# 12618041 Listing URL

    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.

    HighLights

    • Currently operating as a daycare and preschool, offering a ready mixed‑use setup with ongoing business use.
    • Built in 1891 with frame construction and an asphalt roof; heated by natural gas forced‑air.
    • Utilities include public water and public sewer; parking available off street and off alley, plus driveway and garage.
    • Features a finished, exterior‑access basement and an existing 2nd‑floor apartment, supporting flexible living or rental layouts.
    • Set on two village lots with a fenced yard and a blacktop half basketball court for outdoor use.
    • On‑site storage/workspace includes an oversized barn/garage plus an attached one‑car garage currently utilized by the tenant.

    Overview

    This mixed-use property is currently operating as a long-standing daycare and preschool, with a configuration that also includes an existing 2nd-floor apartment. The home features a finished basement with exterior access, which can support separate entry and flexible rental or living arrangements. Outside, the property sits on two village lots and includes a fenced yard plus outdoor recreation space with a blacktop half basketball court. For storage and workspace, there is an oversized barn/garage, along with an attached one-car garage currently utilized by the tenant. The interior has had consistent updates since 1992, supporting a well-maintained, usable foundation for an owner-operator or investor.

    Located at 250 Peru Street in Paw Paw, Illinois (Lee County), the property’s two-lot footprint provides room for continued use and possible expansion within the existing improvements.

    For a buyer, the asset offers multiple pathways: it may continue operating as a daycare/preschool while integrating residential living, or it can be reworked into a multi-unit income setup using the existing apartment and basement with separate access. Alternatively, buyers may choose to deconvert into a larger single-family residence with defined separation depending on how the current layout is arranged. The combination of income-producing space, multiple access points, and substantial outbuilding storage makes it a practical option for those seeking a flexible property in a small-town setting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Paw Paw Schoolhouse Daycare Center

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Food Market

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

    Similar Places Nearby

    • Paw Paw Schoolhouse — 250 Peru St, Paw Paw, IL 61353

    Location Insight

    • Map
    • Local Demand
    City
    Paw Paw
    County
    Lee
    State
    Illinois
    Longitude
    -88.981634
    Latitude
    41.688099

    FAQs

    What type of property is this?
    Day care center - Well-maintained property with existing daycare operations and residential unit potential on two village lots.
    Where is this day care center located?
    The property is located at 250 Peru Street Paw Paw, IL.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: Currently operating as a daycare and preschool, offering a ready mixed‑use setup with ongoing business use.; Built in 1891 with frame construction and an asphalt roof; heated by natural gas forced‑air.; Utilities include public water and public sewer; parking available off street and off alley, plus driveway and garage.
    (815) 693-4958
    We can help!
    Listing Contact
    Wendi Sleezer
    Wendi Sleezer
    Request Owner's contact information
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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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