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    1600 Wabash Ave Mattoon, IL 61938

    Sponsored
    For Sale
    $385,000

    Prime Downtown Location, Huge Potential

    Property size:
    20,877 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional property, located at 1600 Wabash Ave. in Mattoon, Illinois, presents a unique investment opportunity. The offering includes a substantial 20,877 square foot building complex situated on a 0.32-acre lot. The main structure, constructed in 1929, features a large sanctuary, multiple meeting rooms, classrooms, office space, and a kitchen. A secondary building, added in 1959, complements the existing space. The property also includes a dedicated parking lot, as detailed in the available documentation. This meticulously maintained property has undergone significant updates over the past decade, including major systems such as the roof and HVAC. The building is equipped with a sound system and lighting, ready for immediate use. The asking price is $385,000. This versatile property offers a multitude of potential uses, making it an ideal investment for a variety of businesses or organizations. Its prime downtown Mattoon location provides excellent visibility and accessibility. Detailed property documents are available for review. This is a rare opportunity to acquire a substantial, well-maintained property with significant potential in a thriving Illinois community.

    Property Features for 1600 Wabash Ave

    General Information

    Property type
    Land
    Square Feet
    20,877 SF
    Lot Size
    13,939 SF

    HighLights

    • $385,000 asking price.
    • Special purpose property, land, 20,877 square feet.
    • 0.32‑acre lot size.
    • Located at 1600 Wabash Ave., Mattoon, IL 61938.
    • Historic downtown Mattoon church with multiple large rooms, including a sanctuary, kitchen, offices, and classrooms; includes furniture.
    • Adjacent parking lot included.
    Property Profile Location Intelligence

    Current Use by Public Records

    First Christian Church Protestant Church

    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
    Mattoon
    County
    Coles
    State
    Illinois
    Longitude
    -88.3741614
    Latitude
    39.4807785

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    FAQs

    What type of property is this?
    Land - Prime Downtown Location, Huge Potential
    Where is this land located?
    The property is located at 1600 Wabash Ave Mattoon, IL.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: $385,000 asking price.; Special purpose property, land, 20,877 square feet.; 0.32-acre lot size.
    Request Owner's contact information
    1600 Wabash Ave Mattoon, IL 61938
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    Mattoon, IL 61938
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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
    1600 Wabash Ave Mattoon, IL 61938
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