Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Residential Lot in Canton Title is generated by Realmo AI

    354 E LOCUST Street, Canton, IL 61520

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 354 E LOCUST Street, Canton, IL
    Pending
    Contact for pricing

    LAND - Canton, IL

    Lot size:
    0.08 Acres
    Added:
    Feb 27, 2026
    Days on Market:
    83
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 354 E LOCUST Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Pending
    APN
    09-08-27-430-009
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    TWP: 04 SECT/LOT: 07 GOULD S ADDITION W25 6 E 19
    Tax Annual Amount
    1051

    Utilities

    Utilities
    Electricity Available
    Water source
    Public

    We can help!

    Listing Contact
    Michelle Campbell
    Michelle Campbell

    Listing agent Michelle Campbell License #471003258

    Listing office Jim Maloof Realty, Inc. 418 N Main Street, Peoria, IL

    Listing date Feb 27, 2026

    MLS# PA1264461 Listing URL

    Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Vacant level lot ready for development
    • Zoned R‑4, allowing for various residential development options
    • Electricity available at the property
    • Public water source available
    • Lot size is 45x76
    • Located at 354 East Locust

    Overview

    This is a vacant, level lot located at 354 East Locust in Canton, Illinois. The lot dimensions are 45 feet by 76 feet. It is zoned R-4, which is intended for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Fulton
    State
    Illinois
    Longitude
    -90.02904
    Latitude
    40.558132

    Nearby Similar for Sale

    • $345,000
      9,600 SF

      Canton Storage Units For Sale

      Two storage units with space for expansion in Canton, IL.
      351 S 2ND Avenue, Canton, IL 61520
      View Details
    • $750,000

      Mixed-Use Building with Established Bar

      Mixed-use property with bar, apartments, and excellent exposure.
      68 E Elm Street, Canton, IL 61520
      View Details
    • $99,000

      Canton, IL Land Opportunity

      7.52 acres of B-1 zoned land for general business/residential.
      1600 E WALNUT Street, Canton, IL 61520
      View Details
    • $1,800,000
      19,300 SF

      Canton Commercial Property on 4 Acres

      19,300 sq ft commercial property on high-traffic corner lot.
      2051 N Main St, Canton, IL 61520
      View Details
    • Contact for pricing
      14,100 SF

      Canton, IL Multi-Tenant Retail

      Multi-tenant retail building in Canton, IL with immediate investment return.
      128-134 East Chestnut Street and 77 N 1st Ave, Canton, IL 61520
      View Details
    • $128,500

      Three-Unit Apartment Building in Canton

      Three-unit apartment building with separate utilities and off-street parking.
      263 S 1ST Avenue, Canton, IL 61520
      View Details
    • $375,000

      Commercial Land on N. Main

      0.7 acre commercial development site on high-traffic corner lot.
      339-369 N MAIN Street Ash, Canton, IL 61520
      View Details
    • $24,500

      Vacant Corner Lot in Canton

      Vacant corner lot zoned R-4 in Canton, Illinois.
      360 E LOCUST Street, Canton, IL 61520
      View Details
    • $189,900
      7,314 SF

      Commercial Buildings on 2.43 Acres

      Two commercial buildings with outside storage on 2.43 acres.
      1595 E WALNUT Street, Canton, IL 61520
      View Details
    • $1,408,000
      3,250 SF

      Canton Retail Building For Sale

      Retail building with long-term net lease in Canton, Illinois.
      638 N Main St, Canton, IL
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Level vacant lot zoned for residential use in Canton, IL.
    Where is this residential land & home lot located?
    The property is located at 354 E LOCUST Street Canton, IL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant level lot ready for development; Zoned R‑4, allowing for various residential development options; Electricity available at the property
    (309) 338-4471
    We can help!
    Listing Contact
    Michelle Campbell
    Michelle Campbell
    Real Estate License ID: 471003258
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    354 E LOCUST Street, Canton, IL 61520
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!