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    121-123 Main St Salem, IL 62881

    • Commercial real estate
    • 7,500 SF
    For Sale
    View listing
    $95,000
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 121-123 Main St

    Year built
    1940
    Property size
    7,500 SF
    Property type
    Commercial real estate

    Description

    Downtown Salem, IL - High Income Potential

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Illinois
    Longitude
    -88.9465
    Latitude
    38.627

    Comparable in this City

    • Value Estimation by Request
      2.00 Acres

      Church Rd

      COMMERCIAL (GENERAL) • 2.00 Acres
      Church Rd, Salem, IL 62881
      View Details
    • Value Estimation by Request

      110 Cross Crk Blvd

      COMMERCIAL (GENERAL)
      110 Cross Crk Blvd, Salem, IL 62881-1920
      View Details
    • Value Estimation by Request

      Delmar Ave

      COMMERCIAL (GENERAL)
      Delmar Ave, Salem, IL 62881
      View Details
    • Value Estimation by Request

      Delmar Ave

      COMMERCIAL (GENERAL)
      Delmar Ave, Salem, IL 62881
      View Details
    • Value Estimation by Request

      140 Illinois Ave

      COMMERCIAL (GENERAL)
      140 Illinois Ave, Salem, IL 62881
      View Details
    • Value Estimation by Request
      1.75 Acres

      1 Industrial Dr

      COMMERCIAL (GENERAL) • 1.75 Acres
      1 Industrial Dr, Salem, IL 62881-5833
      View Details

    Similar Nearby for Sale

    • $95,000
      7,500 SF

      \"" Salem Cycles\"" and \""Ritter Farms\"". The Commercial location includes three separate spaces for three individual businesses or could be combined into one large location on the main level. The main floor Has a newer HVAC unit. The upstairs has four separate rental units one is currently rented for $550 a month the other three units need some TLC to get them in rentable condition. Some plumbing and electrical work has been done. With some vision and some sweat equity this building could be a great investment opportunity! NOTE: Call the City of Salem to discuss availability of Tiff funds and other possible grants available. Call today for your private showing!""""}"""

      Historic Salem Commercial Building
      121-123 Main St, Salem, IL 62881
      View Details
    • $219,000
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      Downtown Salem Restaurant - Turnkey!

      Established Restaurant, Updated, Ready to Go!
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    Similar Nearby for Lease

    • Contact for pricing
      7,000 SF

      Salem Retail Space - 7,000 SF

      Prime Salem retail space, high visibility.
      612 Main St, Salem, IL 62881
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    • Contact for pricing
      7,000 SF

      Prime Retail Space in Salem

      Retail or office space with strong visibility and ample parking.
      606 W Main St, Salem, IL 62881
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    121-123 Main St
    Salem, IL 62881
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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
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