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    201 8Th St Quincy, IL 62301

    Sponsored
    For Sale
    $9,999,999

    34 Units, Class A, High NOI

    Property size:
    62,459 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 34-unit Class A apartment building, completed in 2024, presents a compelling investment opportunity. Located at 201 S 8th St, Quincy, IL, this property boasts 62,459 square feet across three, two-story buildings on a 2-acre lot (APN: 23-7-0294-000-00). Each of the 34 townhomes offers 1,864 square feet of living space, including two bedrooms (one master suite), two and a half bathrooms, a dedicated laundry room, a home office, and an open living/dining area. Residents enjoy premium amenities such as a 24-hour private security service, a private courtyard, and an exclusive fitness center. Each unit includes a one-car garage and an additional driveway parking space. The property's strong financial performance is reflected in its $9,999,999 asking price ($160.11/sq ft, $294,117.62/unit), and a pro-forma NOI of $573,187. The property is zoned D2 and is situated in Quincy's Historic Brewery District. This development received a $926,850 investment from the local government. This turnkey investment offers a blend of historical charm and modern luxury in a high-demand location. The property is owned by an LLC.

    Property Features for 201 8Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    62,459 SF
    Class
    A
    Lot Size
    87,120 SF

    Building Details

    Year Built
    2024
    Buildings
    3
    Stories
    2
    Units
    34

    HighLights

    • $9,999,999 asking price for a Class A, 34‑unit apartment building.
    • 62,459 square feet, built in 2024, with three buildings and two stories.
    • $160.11 price per square foot and $294,117.62 price per unit.
    • $573,187 pro‑forma NOI.
    • Located at 201 S 8th St, Quincy, IL 62301, on a 2‑acre lot (APN: 23‑7‑0294‑000‑00).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Quincy
    County
    Adams
    State
    Illinois
    Longitude
    -91.403319464182
    Latitude
    39.93058616932

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    FAQs

    What type of property is this?
    Multifamily property - 34 Units, Class A, High NOI
    Where is this multifamily property located?
    The property is located at 201 8Th St Quincy, IL.
    What is the asking price?
    The asking price for this property is $9,999,999.
    What are key features of this property?
    This property features: $9,999,999 asking price for a Class A, 34-unit apartment building.; 62,459 square feet, built in 2024, with three buildings and two stories.; $160.11 price per square foot and $294,117.62 price per unit.
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    201 8Th St Quincy, IL 62301
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    Quincy, IL 62301
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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
    201 8Th St Quincy, IL 62301
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