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    120 Chicago St Lincoln, IL 62656

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    For Sale
    Contact for pricing

    Downtown Lincoln, IL: Two Buildings, Huge Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents two adjacent, two-story commercial buildings located at 120 S Chicago Street in Lincoln, Illinois, 62656. Offered at $15,000, this property comprises land and existing structures zoned for commercial use. Both buildings are currently vacant and require significant repairs; they are sold strictly "AS IS." The buildings have been unoccupied for several years, presenting a unique chance for a buyer to revitalize a prime downtown location. The property's address is 120 S Chicago Street, situated in Logan County, Illinois. The precise geographic coordinates are latitude 40.1468157 and longitude -89.3639433. Given their size and location, these buildings offer substantial potential for redevelopment and repurposing to suit a variety of commercial ventures. The "AS IS" condition allows for creative vision and flexibility in renovation plans. This is an ideal opportunity for an investor seeking a high-return project with significant upside potential in a central Illinois location. The property's current condition necessitates a comprehensive assessment of repair needs prior to purchase. Serious inquiries are encouraged to explore the full potential of this unique downtown Lincoln property.

    Property Features for 120 Chicago St

    General Information

    Property type
    Retail properties

    HighLights

    • $15,000 asking price.
    • Commercial land, office, and retail property located at 120 S Chicago Street, Lincoln, IL 62656.
    • Two adjacent, two‑story buildings in Lincoln, IL, requiring renovation; sold as‑is.
    • Commercially zoned.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.3639433
    Latitude
    40.1468157

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    FAQs

    What type of property is this?
    Retail property - Downtown Lincoln, IL: Two Buildings, Huge Potential
    Where is this retail property located?
    The property is located at 120 Chicago St Lincoln, IL.
    What is the asking price?
    The asking price for this property is $15,000.
    What are key features of this property?
    This property features: $15,000 asking price.; Commercial land, office, and retail property located at 120 S Chicago Street, Lincoln, IL 62656.; Two adjacent, two-story buildings in Lincoln, IL, requiring renovation; sold as-is.
    Request Owner's contact information
    120 Chicago St Lincoln, IL 62656
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    Lincoln, IL 62656
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    Realmo Value Estimation

    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.

    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.

    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
    120 Chicago St Lincoln, IL 62656
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