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    115 Prospect St Cambridge, IL 61238

    • Commercial real estate
    • 1,260 SF
    • 0.06 lot acres
    For Sale
    View listing
    $120,000
    Value Estimation
    Last Sale
    Jan 03, 2020
    $37,000
    Location Intelligence
    Property ID
    US28-3004832
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 115 Prospect St

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    1,260 SF
    Property type
    Commercial real estate
    APN
    18-07-263-022
    APU
    1807263022

    Description

    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.

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cambridge
    County
    Henry
    State
    Illinois
    Longitude
    -90.1931
    Latitude
    41.3033
    CBSA code
    19340
    CBSA name
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $681
    $1,221
    $6,316
    $7,537
    -
    $3,663
    $18,948
    $22,611

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    • Value Estimation
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      COMMERCIAL (GENERAL) • 0.08 Acres
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    Similar Nearby for Sale

    • $120,000

      Downtown Cambridge Mixed-Use Property

      Prime location, income-producing, multi-use building.
      115 Prospect St, Cambridge, IL 61238
      View Details
    • $2,200,000
      1.06 Acres

      Turnkey Multi-Family Investment Opportunity

      Two well-maintained multi-family properties with 40 units total.
      603 N Prospect St, Cambridge, IL 61238
      View Details
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    115 Prospect St
    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
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