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    Illinois Riverfront Redevelopment Opportunity Title is generated by Realmo AI

    800 South Washington, Meredosia, IL 62665

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    93.43-acre former power plant site with river access.

    Type:Land
    Lot size:
    93.43 Acres
    Added:
    Oct 17, 2020
    Days on Market:
    2050
    Last Refresh:
    May 19 at 8:42 pm

    Property Features for 800 South Washington

    General Information

    Standard status
    Active
    Lot size
    93.43 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Steve Zuber- SIOR, CCIM
    Steve Zuber- SIOR, CCIM

    Listing agent Steve Zuber- SIOR, CCIM License #IL 475.115449

    Listing office Barbermurphy Group

    Listing date Oct 17, 2020

    Source Crexi

    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 Barbermurphy Group

    HighLights

    • 93.43 +/- acre redevelopment site.
    • Heavy utilities on site: High voltage bulk electrical power, natural gas, city water, and sanitary sewers are available.
    • 800' dock line on the Illinois River, potentially adaptable for bulk material commodity handling.
    • Norfolk Southern rail spur nearby, providing rail transportation access.
    • Good truck access to IL Route 67, Interstate 72 (East‑West), and Interstate 55 (North‑South).
    • Existing USACE permits for river structures and coal conveyor.

    Overview

    This 93.43 +/- acre redevelopment site, formerly the Ameren Meredosia Plant, is located on the east bank of the Illinois River in Meredosia, Illinois, northwest of Jacksonville, in Morgan County. The site features an 800-foot dock line on the Illinois River, offering potential for bulk material commodity operations with adaptation of the existing dock and bucket unloader. A clam shell bucket unloader, mounted on a river cell, could be renovated and re-used, and a spare bucket is provided. USACE permit number 823, issued August 20, 1941, and modified May 17, 1963, permitted the river structures, while permit number 741, issued July 9, 1958, permitted the coal conveyor. The property benefits from heavy utilities on site and a nearby Norfolk Southern rail spur. High voltage, bulk electrical power is available from Ameren Illinois, along with natural gas, Meredosia city water, and sanitary sewers. Truck access is convenient via Illinois Route 67, Interstate 72 (east-west), and Interstate 55 (north-south), with I-72 Exit 46 just 15 miles away. Note that the coal plant is closed and will be abated then demolished. The bulk power substations will remain Ameren property and in operation.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Storage Facility HVAC Service Garden Center Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Meredosia
    County
    Morgan
    State
    Illinois
    Longitude
    -90.5444
    Latitude
    39.7431

    FAQs

    What type of property is this?
    Industrial land - 93.43-acre former power plant site with river access.
    Where is this industrial land located?
    The property is located at 800 South Washington Meredosia, IL.
    What are key features of this property?
    This property features: 93.43 +/- acre redevelopment site.; Heavy utilities on site: High voltage bulk electrical power, natural gas, city water, and sanitary sewers are available.; 800' dock line on the Illinois River, potentially adaptable for bulk material commodity handling.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Steve Zuber- SIOR, CCIM
    Steve Zuber- SIOR, CCIM
    Real Estate License ID: IL 475.115449
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    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.

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