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    1810 Main St Morton, IL 61550

    Sponsored
    For Sale
    Contact for pricing

    Net-leased medical office; strong tenant.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional net-leased investment opportunity presents a 13,200 square foot free-standing medical office building located at 1810 S Main St, Morton, IL 61550, in Tazewell County. The property enjoys a prime location near Peoria, Illinois. For the past 45 years, this building has served as a forensic laboratory for the Illinois State Police Department, demonstrating a long-standing and stable tenancy. The building has recently undergone significant improvements, including a complete overhaul of the HVAC system, a refreshed parking lot, and extensive interior office renovations. These upgrades ensure the property remains in excellent condition and caters to the needs of its established tenant. Further enhancing its investment appeal, the lease has been recently renewed for a substantial 10-year term, incorporating built-in rent escalations that provide predictable income growth. This presents a rare opportunity to acquire a stable, net-leased property with a long-term, creditworthy tenant and a proven track record of success. The property's location, recent renovations, and long-term lease make it an attractive investment for discerning buyers seeking a secure and profitable addition to their portfolio. The building is classified as a medical office and is situated at latitude 40.591576 and longitude -89.4735203.

    Property Features for 1810 Main St

    General Information

    Property type
    Medical offices

    HighLights

    • Net lease medical office investment opportunity.
    • 13,200 SF free‑standing building in Morton, IL, near Peoria.
    • Illinois State Police occupy the building under a recently renewed 10‑year lease with rent escalations.
    • Recent improvements include HVAC, parking lot, and office renovations.
    • The property has been occupied by the Illinois State Police as a forensic lab for 45 years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Morton
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.4735203
    Latitude
    40.591576

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    FAQs

    What type of property is this?
    Medical office - Net-leased medical office; strong tenant.
    Where is this medical office located?
    The property is located at 1810 Main St Morton, IL.
    What are key features of this property?
    This property features: Net lease medical office investment opportunity.; 13,200 SF free-standing building in Morton, IL, near Peoria.; Illinois State Police occupy the building under a recently renewed 10-year lease with rent escalations.
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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
    1810 Main St Morton, IL 61550
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