Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Development Lots in Downtown Belleville Title is generated by Realmo AI

    607 N Illinois Street, Belleville, IL 62220

    View on Map
    Claim this Listing
    For Sale
    $75,000

    Land - Belleville, IL

    Lot size:
    0.18 Acres
    Added:
    May 6, 2026
    Days on Market:
    12
    Last Refresh:
    May 17 at 4:06 am

    Property Features for 607 N Illinois Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Multi-Family
    Exterior features
    Corner Lot
    Standard status
    Active
    APN
    08-21.0-224-023
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1545

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Rebecca Bollinger
    Rebecca Bollinger

    Listing agent Rebecca Bollinger License #475.155346

    Listing office RE/MAX Preferred 1668 Windham Way, OFallon, IL

    Listing date May 6, 2026

    MLS# 26028072 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Three prime development lots in downtown Belleville.
    • Multifamily zoning ideal for investors and developers.
    • Steps from Belleville Square and Main Street shopping, dining, and entertainment.
    • Builder plans available to expedite development.
    • Potential TIF and grant opportunities for qualified projects.
    • Possible purchase of adjacent city‑owned lot to expand development footprint.

    Overview

    Located at 607, 613, and 615 N Illinois St. in downtown Belleville, these three development lots offer an opportunity for investors and developers. The properties are zoned for multifamily use and are situated steps from the Belleville Square and Main Street shopping, dining, and entertainment district. Builder plans are available to help expedite future development. The area is experiencing growth, with potential TIF and grant opportunities for qualified projects. Buyers are encouraged to confirm all zoning and development possibilities with the city. A city-owned lot at 611 N Illinois St, located between the other two lots, may be available for purchase to expand the development footprint. The parcels total 0.18 acres. This central location, close to amenities and major commuter routes, makes these parcels a valuable investment as multifamily-zoned opportunities in this area are increasingly rare.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.984596
    Latitude
    38.520203

    Nearby Similar for Sale

    • $290,000
      3,400 SF

      Belleville Commercial Space - Turnkey

      Prime downtown commercial space suitable for restaurant, bar, or retail.
      7 S High Street, Belleville, IL 62220
      View Details
    • $299,000
      3,200 SF

      Historic Mixed-Use Building in Belleville

      Two-story mixed-use building in downtown Belleville's commercial corridor.
      18 E Main Street, Belleville, IL 62220
      View Details
    • $249,999

      Belleville Commercial Building For Sale

      Commercial building with four units, ideal for investors.
      1913 N Belt E, Belleville, IL 62221
      View Details
    • $459,000
      8,708 SF

      Belleville Retail Investment Opportunity

      Turn-key commercial property with income potential in downtown Belleville.
      1926 W Main Street, Belleville, IL 62226
      View Details
    • $299,000
      8,744 SF

      Downtown Belleville Office Building

      8,500+ sq ft office building near St. Clair Courthouse.
      12 W Lincoln Street, Belleville, IL 62220
      View Details
    • $56,000
      1,152 SF

      Refurbished Office Space in Belleville

      Refurbished office space in downtown Belleville near the courthouse.
      6 Lebanon Avenue, Belleville, IL 62220
      View Details
    • $315,000
      3,576 SF

      Belleville Multifamily Investment Opportunity

      Four-unit apartment building in Belleville, Illinois, with income potential.
      219 N 48th Street, Belleville, IL 62226
      View Details
    • $115,000

      Belleville Commercial Building For Sale

      Commercial building with showroom, shop, and storage in Belleville, IL.
      2100 N Belt, Belleville, IL 62226
      View Details
    • $165,000
      1,740 SF

      Belleville Duplex: Strong Rental Income

      Well-maintained duplex in Belleville with reliable cash flow.
      40 Queensway Drive, Belleville, IL 62226
      View Details
    • $165,000
      1,740 SF

      Belleville Duplex: Strong Rental Income

      Well-maintained duplex in Belleville with reliable cash flow.
      30 Queensway Drive, Belleville, IL 62226
      View Details
    • $500,000
      61,787 SF

      Belleville Mixed-Use Redevelopment Opportunity

      61,787 SF facility on 17.53 acres with redevelopment potential.
      1901 Mascoutah Avenue, Belleville, IL 62220
      View Details
    • $127,900
      1,437 SF

      Belleville Commercial Building with Equipment

      Turnkey commercial building with equipment in high-traffic Belleville location.
      507 Sherman Street, Belleville, IL 62221
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three multifamily-zoned development lots near Belleville Square.
    Where is this residential land & home lot located?
    The property is located at 607 N Illinois Street Belleville, IL.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Three prime development lots in downtown Belleville.; Multifamily zoning ideal for investors and developers.; Steps from Belleville Square and Main Street shopping, dining, and entertainment.
    (618) 310-3600
    We can help!
    Listing Contact
    Rebecca Bollinger
    Rebecca Bollinger
    Real Estate License ID: 475.155346
    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
    607 N Illinois Street, Belleville, IL 62220
    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!