Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    I-72 Rte 4 Barry, IL 62312

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Illinois Commercial Land, $595,000

    Property Features for I-72 Rte 4

    General Information

    Property type
    Land
    Lot Size
    546,678 SF

    We can help!

    Listing Contact
    Scott Reichmann
    Scott Reichmann

    Listing Agent: Scott Reichmann

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 25.46-acre commercial land parcel presents a unique investment opportunity in Barry, Illinois. Strategically located immediately adjacent to I-72 Exit 20 in western Pike County, this property boasts significant frontage along both I-72 and a county road. The gently rolling terrain offers excellent visibility and accessibility. The site benefits from the presence of all utilities except gas. This location is particularly attractive due to its proximity to Barry, Illinois, situated directly across I-72. The seller, a regional electric provider, is keen to facilitate additional power supply and job creation in the area. Further enhancing its appeal, this property is situated within both a Tax Increment Financing (TIF) district and an Enterprise Zone, indicating a supportive local government actively promoting economic development. The Barry city officials are known for their proactive and forward-thinking approach to business development. The property's APN is 46-027-07c and 46-027-07e. The asking price is $595,000, translating to approximately $23,370 per acre. The permitted zoning is B-2 Highway Business, allowing for a wide range of commercial uses. This is a rare opportunity to acquire a substantial, well-located commercial land parcel with significant development potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Barry
    County
    Pike
    State
    Illinois
    Longitude
    -91.0171777
    Latitude
    39.6947504

    Nearby Similar for Sale

    • $61,000
      3,680 SF

      Mixed-Use Commercial Building in Barry, IL

      Mixed-use property with storefronts and apartment potential in Barry, IL.
      725 Bainbridge St, Barry, IL 62312
      View Details
    • $500,000

      Hotel with Business Booster Program

      Hotel with 24 guest rooms and potential business incentives.
      142 Smith St, Barry, IL 62312
      View Details
    • $44,900
      1,080 SF

      Historic Barry Commercial Building

      1080 sq ft, charming, AS-IS
      853 Main St, Barry, IL 62312
      View Details

    FAQs

    What type of property is this?
    Land - Prime Illinois Commercial Land, $595,000
    Where is this land located?
    The property is located at I-72 Rte 4 Barry, IL.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: 25.46-acre commercial land parcel in Barry, IL.; Prime I-72 (Exit 20) location with excellent visibility and road frontage.; All utilities available except gas; seller will assist with power upgrades.
    (618) 610-1632 Call to check price and availability
    Request Owner's contact information
    I-72 Rte 4 Barry, IL 62312
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    I-72 Rte 4
    Barry, IL 62312
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    I-72 Rte 4 Barry, IL 62312
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Reichmann
    Scott Reichmann
    Real Estate License ID: 475129149
    (618) 610-1632
    Learn more
    Google sign-in failed. Please try again or use another login method.