Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2 W Side Sq Macomb, IL 61455

    • Commercial real estate
    For Sale
    View listing
    $199,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-4666603
    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

    • Chubby's / Restaurant / Bar

    Property Details for 2 W Side Sq

    Property type
    Commercial real estate
    APN
    11-400-056-00
    APU
    1140005600

    Description

    This exceptional 2 W SIDE Square property in Macomb, Illinois, presents a rare opportunity for commercial development. Currently configured as a bar/restaurant with a remarkable 4,000 square foot loft space, this 1900-built building offers unparalleled versatility. The expansive loft boasts high ceilings and an open floor plan, ideal for a variety of uses. Enjoy breathtaking views of the historic Courthouse Square from all floors. The property's significant advantage lies in its prime location on the square, ensuring high visibility and accessibility. Further enhancing its value is a newly replaced roof (2015) complete with a transferable 15-year warranty, minimizing immediate maintenance concerns. This is a blank canvas for your business vision, limited only by your imagination. The asking price is $299,900. The property is located at 2 W SIDE Square, Macomb, IL 61455, in McDonough County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Mcdonough
    State
    Illinois
    Longitude
    -90.6721
    Latitude
    40.4583
    CBSA code
    31380
    CBSA name
    MACOMB, IL MICROPOLITAN 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
    2023
    $6,295
    $9,957
    $41,182
    $51,139
    -
    $29,871
    $123,546
    $153,417

    Comparable in this City

    • Value Estimation by Request

      127 Si Sq

      COMMERCIAL (GENERAL)
      127 Si Sq, Macomb, IL 61455
      View Details
    • Value Estimation
      $250,000
      0.50 Acres

      Macomb, IL 61455

      COMMERCIAL (GENERAL) • 0.50 Acres
      Macomb, IL 61455
      View Details
    • Value Estimation
      $250,000
      0.31 Acres

      Macomb, IL 61455

      COMMERCIAL (GENERAL) • 0.31 Acres
      Macomb, IL 61455
      View Details
    • Value Estimation by Request

      Macomb, IL 61455

      COMMERCIAL (GENERAL)
      Macomb, IL 61455
      View Details
    • Value Estimation by Request

      Macomb, IL 61455

      COMMERCIAL (GENERAL)
      Macomb, IL 61455
      View Details
    • Value Estimation
      $245,000
      0.13 Acres

      Macomb, IL 61455

      COMMERCIAL (GENERAL) • 0.13 Acres
      Macomb, IL 61455
      View Details

    Similar Nearby for Sale

    • $299,900

      Historic Courthouse Square Land

      Prime Macomb, IL Commercial Land
      2 Side Sq, Macomb, IL 61455
      View Details
    • $275,000
      0.49 Acres

      Macomb Commercial Building - $275K

      Prime Macomb location, versatile commercial space.
      1120 Jackson St, Macomb, IL 61455
      View Details
    • $147,500

      Macomb Commercial Land Investment

      High-Visibility Commercial Land, Income Potential
      810 Jackson St, Macomb, IL 61455
      View Details
    • $350,000
      5,791 SF

      Macomb, IL Commercial Property

      High-traffic corner lot, multi-building complex
      1508 Jackson St, Macomb, IL 61455
      View Details
    • $149,900

      Macomb Commercial Land & Building

      Prime Macomb Office & Apartment Property
      123 Mcarthur St, Macomb, IL 61455
      View Details
    • Contact for pricing
      29.00 Acres

      Macomb, IL Commercial Land Opportunity

      29 Acres, B-2 Zoning, Divisible
      1730 Jackson St, Macomb, IL 61455
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      1,000 SF

      Office/Flex/Retail Space For Lease

      Office, flex, or retail spaces available for lease.
      503 W Jackson St, Macomb, IL 61455
      View Details
    • Contact for pricing
      22,696 SF

      Macomb Retail Center: Prime Location

      High-visibility retail space, multiple units available.
      212 Calhoun St, Macomb, IL 61455
      View Details
    • Contact for pricing
      16,740 SF

      Macomb, IL Office Space Available

      Prime Retail/Office Center near Walmart
      1690 Jackson St, Macomb, IL 61455
      View Details
    • Contact for pricing

      Furnished Office Spaces Available

      Multiple furnished office spaces for rent with included utilities.
      1420 E Carroll St, Macomb, IL 61455
      View Details
    • Contact for pricing

      Macomb Office Space Available

      Tastefully decorated and mostly furnished office space for rent.
      1420 E Carroll St, Macomb, IL 61455
      View Details
    • Contact for pricing

      Spacious Office Space for Lease

      Large office space available for lease with utilities included.
      510 N Pearl St, Macomb, IL 61455
      View Details
    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.
    2 W Side Sq
    Macomb, IL 61455
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.