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    115 Prospect St Cambridge, IL 61238

    Sponsored
    For Sale
    $120,000

    Prime location, income-producing, multi-use building.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a unique blend of commercial and residential space in the heart of downtown Cambridge, Illinois. Located at 115 N PROSPECT Street, this property boasts a total of one building constructed in 1919, encompassing a versatile mix of uses. The main floor has been completely remodeled to provide a functional and attractive office or retail space, complete with a convenient back storage room. Upstairs, a generously sized two-bedroom apartment offers significant rental income potential. This apartment features spacious rooms, the convenience of in-unit laundry facilities, and access from both the street and an alley. The property is zoned for commercial, flex, and multifamily uses, providing flexibility for a variety of business and residential applications. The asking price for this motivated seller's property is $120,000. This property is situated in Henry County, Illinois, with the zip code 61238. The property's versatility and prime downtown location make it an ideal investment for those seeking a strong return on investment in a thriving community. The building's age and character offer a unique charm, while the recent renovations ensure modern functionality and appeal. Don't miss this chance to acquire a valuable asset in a desirable location.

    Property Features for 115 Prospect St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1919
    Buildings
    1
    Units
    1

    HighLights

    • Prime downtown Cambridge, IL location at 115 N PROSPECT Street.
    • Completely remodeled main floor ideal for office or retail use, including back storage.
    • Upstairs features a spacious two‑bedroom apartment with in‑unit laundry, offering strong rental income potential.
    • 1919‑built building zoned for commercial, flex, and multifamily uses.
    • Motivated seller offering this property for $120,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cambridge
    County
    Henry
    State
    Illinois
    Longitude
    -90.193023
    Latitude
    41.3033385

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Multifamily property - Prime location, income-producing, multi-use building.
    Where is this multifamily property located?
    The property is located at 115 Prospect St Cambridge, IL.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: Prime downtown Cambridge, IL location at 115 N PROSPECT Street.; Completely remodeled main floor ideal for office or retail use, including back storage.; Upstairs features a spacious two-bedroom apartment with in-unit laundry, offering strong rental income potential.
    Request Owner's contact information
    115 Prospect St Cambridge, IL 61238
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    Cambridge, IL 61238
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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
    115 Prospect St Cambridge, IL 61238
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