Live-Work Property with Retail
8621 US Highway 12 Richmond, IL 60071
For Sale
$224,990
COMMERCIAL - Richmond, IL
Property Size759 SF
Lot Size0.50 Acres
Price / SF$296.43
Days on Market202
Property Features for 8621 US Highway 12
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMR
Standard status
Active
APN
0421100005
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7907
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Well
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
HomeSmart Connect LLC
(847) 495-5000
Listed By:
Salvatore Soccorso · License #475144533
(847) 495-5000
Added: Jan 8
Changed: Jul 21
Last Checked: Jul 29 at 12:06AM
MLS# 12543720
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.
This live-work property combines a 2BR home attached to a commercial space. The commercial portion includes a 23x33 area with room for a future bathroom and is separately metered, which may allow the commercial area to be rented out. The property also features newer 200 AMP electric service with 2 meters and 2 HVAC systems. Additional amenities include a basement, a 2-car garage, and privacy to the rear of the property.
Located in Richmond on US RT 12, the site is described as highly visible on a heavily trafficked roadway just north of the 12/31 intersection. The property is zoned COMMR, and the remarks note level access to the Prairie Trail.
Offered as-is, with buyer responsible for paying for the survey, this property may suit users looking for an on-site residence alongside income-producing or flexible commercial space.
Located in Richmond on US RT 12, the site is described as highly visible on a heavily trafficked roadway just north of the 12/31 intersection. The property is zoned COMMR, and the remarks note level access to the Prairie Trail.
Offered as-is, with buyer responsible for paying for the survey, this property may suit users looking for an on-site residence alongside income-producing or flexible commercial space.
Key Highlights
- 2‑bedroom home attached to 23x33 commercial area with space for a future bathroom
- Commercial portion is separately metered and could be rented out
- Two HVAC systems and 200 AMP electric with 2 meters
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.6k | $24.48 |
| − Vacancy | −$4.6k | −$6.10 |
| EGI | $14.0k | $18.38 |
| − OpEx | −$3.5k | −$4.60 |
| NOI | $10.5k | $13.79 |
759 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$149.5K
$130.8K – $174.4K
NOI $10,465 @ 7.0% cap · market cap 4.65%
Second Best
Mixed Use
$112.2K
$98.2K – $130.9K
NOI $7,856 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$262.0K
$229.3K – $305.7K
NOI $18,343 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Attached 2BR residence and separately metered 23x33 commercial area with room for a future bathroom.
Where is this live-work space located?
The property is located at 8621 US Highway 12 Richmond, IL.
What is the asking price?
The asking price for this property is $224,990.
What are key features of this property?
This property features: 2‑bedroom home attached to 23x33 commercial area with space for a future bathroom; Commercial portion is separately metered and could be rented out; Two HVAC systems and 200 AMP electric with 2 meters
