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    430 Mississippi Ave Elwood, IL 60421

    For Sale
    $765,000

    Prime location, versatile space, high ROI potential.

    Property size:
    2,953 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional retail property, located at 430 E Mississippi Ave in Elwood, Illinois (zip code 60421), presents a unique investment opportunity. The 2,953 square foot building, constructed in 2005, sits on a one-acre lot and is zoned C-2, allowing for a variety of uses. Previously a bank, the property boasts desirable features including drive-through capabilities and a functional vault, adding significant value and versatility. The building's layout also includes dedicated office space, providing ample room for administrative functions or additional retail space. The asking price is $765,000, translating to $259.06 per square foot. This owner-user investment opportunity is ideal for a variety of retail concepts, including convenience stores, grocery stores, or restaurants. The single-story building offers excellent accessibility and visibility, situated in a prime Elwood location. The property's solid construction and existing features make it an attractive option for immediate occupancy and potential development. This is a rare chance to acquire a well-maintained, versatile commercial space in a thriving community. The property is available for a modified lease.

    Property Features for 430 Mississippi Ave

    General Information

    Property type
    Restaurants
    Square Feet
    2,953 SF
    Lot Size
    43,560 SF

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Solid bank building with drive‑thru and functional vault.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Auto Repair Shop Clothing Store Hotel & Motel Pharmacy Auto Parts Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Elwood
    County
    Will
    State
    Illinois
    Longitude
    -88.103311279733
    Latitude
    41.406212943377

    Nearby Comparable

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      Elwood Commercial Lot: Prime Location

      High-traffic corner lot, ready to build.
      11 Mississippi Ave, Elwood, IL 60421
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      Prime Development Land on Route 53

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Restaurant - Prime location, versatile space, high ROI potential.
    Where is this restaurant located?
    The property is located at 430 Mississippi Ave Elwood, IL.
    What is the asking price?
    The asking price for this property is $765,000.
    What are key features of this property?
    This property features: Solid bank building with drive-thru and functional vault.; ;
    Request Owner's contact information
    430 Mississippi Ave Elwood, IL 60421
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    Elwood, IL 60421
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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
    430 Mississippi Ave Elwood, IL 60421
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