Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Galena Countryside Building Opportunity Title is generated by Realmo AI

    948 South Rocky Hill Road, Galena, IL 61036

    View on Map
    Claim this Listing
    For Sale
    $165,000

    17.99 acres with views, spring, and utilities available.

    Type:Land / Land
    Lot size:
    17.99 Acres
    Added:
    Sep 20, 2025
    Days on Market:
    261
    Last Refresh:
    Mar 17 at 5:28 am

    Property Features for 948 South Rocky Hill Road

    General Information

    Standard status
    Active
    Lot size
    17.99 Acres
    Property subtype
    Land / Land

    We can help!

    Listing Contact
    BRANDON C BEYER

    Listing agent BRANDON C BEYER License #471021761

    Listing office JIM SULLIVAN REALTY

    Listing date Sep 20, 2025

    Source Compass

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

    All listing content including descriptions, pricing, images are the copyrighted material of JIM SULLIVAN REALTY

    HighLights

    • 17.99 acres comprised of 3 adjoining lots in Cedar Lakes Subdivision.
    • Incredible north and west views, especially from the high point.
    • Cleared potential building site protected by cedar trees.
    • Freshwater spring on the property, potentially for a pond.
    • Utility level power and high‑speed fiber internet available.
    • Low HOA fees: $300/year for all 3 lots.

    Overview

    This 17.99-acre property offers a building location with views of the Galena countryside. The acreage consists of three adjoining lots within Cedar Lakes Subdivision. The property offers views to the north and west, particularly from the high point on the south end. The land slopes down from the road and features a cleared building site in the center, surrounded by cedar trees. A freshwater spring emerges from the hillside, offering the potential to construct a pond. Utility-level power and high-speed fiber internet are available along the Rocky Hill Road frontage. The property is subject to Cedar Lakes covenants and restrictions, with HOA fees totaling $300 per year ($100 per lot).
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Hotel & Motel HVAC Service Travel Agency Bed & Breakfast Pet Store Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Galena
    County
    Jo Daviess
    State
    Illinois
    Longitude
    -90.386559
    Latitude
    42.358647

    Nearby Similar for Sale

    • $749,900
      4,600 SF

      Versatile Commercial Space in Galena

      Multi-faceted commercial complex with office and warehouse space.
      11470 Industrial Drive, GALENA, IL 61036
      View Details
    • $200,000
      2,250 SF

      Specialty Cremation Facility Building

      Specialty property with city water and sewer on a 0.55-acre lot, including key operating equipment and spaces.
      1214 N West Street, GALENA, IL 61036
      View Details
    • $914,000
      6,000 SF

      Galena Commercial Property with Warehouse

      6,000 SF retail space with 3,750 SF warehouse.
      1233 N Franklin Street, GALENA, IL 61036
      View Details
    • $1,700,000
      11,400 SF

      Two-Level Retail and Office Building

      Two-level, multi-tenant building with retail showroom and office suites on a highly visible highway corridor.
      800 Spring Street, Galena, IL 61036
      View Details
    • $1,550,000

      Prime Land in Galena, IL

      11.33 acres in Galena, city utilities available.
      9146 US Hwy 20 W, GALENA, IL 61036
      View Details
    • $30,000

      Galena Territory Buildable Homesite

      Buildable homesite with views and access to community amenities.
      3 Beacon Trail, Galena, IL 61036
      View Details
    • $140,000

      Wooded Homesite in Galena Territory

      Secluded 1.84-acre homesite near Eagle Ridge Resort & Spa.
      14 Cinnamon Drive, GALENA, IL 61036
      View Details
    • $1,132,000

      6.93 Acres in Galena, IL

      6.93 acres near Gateway Park with city utilities.
      US HWY 20 W lot: 1, GALENA, IL 61036
      View Details
    • $13,900

      Wooded Homesite in Galena Territory

      1.46 acre wooded homesite with access to Galena Territory amenities.
      447 Territory Drive, Galena, IL 61036
      View Details
    • $11,900

      Wooded Homesite in Galena Territory

      1.31 acre wooded homesite with access to Galena Territory amenities.
      449 Territory Drive, Galena, IL 61036
      View Details
    • $1,295,000
      5,655 SF

      Rehabbed Commercial Building in Galena

      Investment property with leased and vacant space in Galena, IL.
      11358 Industrial Drive, Galena, IL 61036
      View Details
    • $120,000

      Land Near Galena Recreation Park

      7.92 acres near Galena with stream and wooded acreage.
      8244 Creek Crossing Court, GALENA, IL 61036
      View Details

    FAQs

    What type of property is this?
    Land - 17.99 acres with views, spring, and utilities available.
    Where is this land located?
    The property is located at 948 South Rocky Hill Road Galena, IL.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: 17.99 acres comprised of 3 adjoining lots in Cedar Lakes Subdivision.; **Incredible north and west views, especially from the high point.**; **Cleared potential building site protected by cedar trees.**
    (815) 275-3612
    We can help!
    Listing Contact
    BRANDON C BEYER
    Real Estate License ID: 471021761
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    948 South Rocky Hill Road, Galena, IL 61036
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!