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    114 Market St Colchester, IL 62326

    Sponsored
    For Sale
    $50,000

    Prime Vacant Commercial Property; 1750 sq ft, $50k

    Property size:
    1,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional commercial property, located at 114 E MARKET Street in Colchester, Illinois (zip code 62326), presents a unique investment opportunity. The property consists of a single-story, 1,750 square foot building situated on a 2,875 square foot lot. Built in 1900, the building is currently vacant, offering immediate potential for a variety of commercial uses. The property is zoned to allow for flexible business ventures. Recent improvements include a brand new on-demand water heater installed in 2024. The building has been thoroughly cleaned and is ready for immediate occupancy. The property's downtown Colchester location offers high visibility and accessibility. The surrounding block has experienced significant property improvements in recent years, indicating a positive trend in the area. The seller is open to considering lease options in addition to a sale. This is an affordable entry point into the Illinois commercial real estate market, offering significant upside potential for the right buyer or tenant. The property's size and location make it ideal for a variety of retail or office uses. Take advantage of this opportunity to establish your business in a thriving community with no zoning restrictions.

    Property Features for 114 Market St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    1,750 SF

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    1

    HighLights

    • $50,000 asking price.
    • 1,750 square foot vacant commercial building on a 2,875 square foot lot.
    • Located at 114 E MARKET Street, Colchester, IL 62326.
    • Property includes retail and office space; built in 1900, one story.
    • Vacant and ready for immediate occupancy; new water heater installed in 2024.
    • Owner will consider leasing options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Storage Facility HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Colchester
    County
    McDonough
    State
    Illinois
    Longitude
    -90.791932
    Latitude
    40.424596

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Vacant Commercial Property; 1750 sq ft, $50k
    Where is this office property / space located?
    The property is located at 114 Market St Colchester, IL.
    What is the asking price?
    The asking price for this property is $50,000.
    What are key features of this property?
    This property features: $50,000 asking price.; 1,750 square foot vacant commercial building on a 2,875 square foot lot.; Located at 114 E MARKET Street, Colchester, IL 62326.
    Request Owner's contact information
    114 Market St Colchester, IL 62326
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    Colchester, IL 62326
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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
    114 Market St Colchester, IL 62326
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