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    420 4Th St Chillicothe, IL 61523

    • Commercial real estate
    For Lease
    View listing
    $11 SF/Yr
    Value Estimation
    $385,000
    Last Sale
    Apr 21, 2021
    $400,000
    Location Intelligence
    Property ID
    US28-1820703
    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 420 4Th St

    Property type
    Commercial real estate
    APN
    05-29-236-015
    APU
    529236015

    Description

    This exceptional 5,200 square foot multi-tenant commercial property, located at 420 Fourth Street in Chillicothe, Peoria County, offers four available spaces, each a minimum of 800 square feet. Ideal for retail, office, or restaurant use, this building boasts a highly desirable location on a main thoroughfare, experiencing significant daily traffic of 13,700 cars. The property benefits from excellent visibility and accessibility from Fourth Street, further enhanced by prominent rooftop signage for each individual tenant. This ensures maximum exposure for your business. The building is anchored by a Pizza Hut, guaranteeing high foot traffic and a vibrant atmosphere. Each unit is designed with convenience and functionality in mind, featuring a private bathroom and attractive front-facing glass windows, maximizing natural light and showcasing your business to passersby. Competitive lease pricing is available, making this an attractive opportunity for businesses seeking a prime location with high visibility and excellent accessibility. The property is classified as Traditional Office and also includes storefront and bar subtypes. Contact us today to learn more about leasing opportunities.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $375,000

    • CAP approach

      CAP return
      Estimation
      6%
      $400,000
      6.5%
      $395,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $380,000
      Geo Method
      $370,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $395,000
      Retail
      $415,000
      Mixed-Use
      $405,000
      Hospitality
      $435,000
      Educational
      $370,000
      Residential Income
      $405,000
      Energy
      $385,000
      Income-Based Land
      $440,000
      Food Service
      $355,000

    Location Insight

    • Map
    • Local Demand
    City
    Chillicothe
    County
    Peoria
    State
    Illinois
    Longitude
    -89.4901
    Latitude
    40.9123
    CBSA code
    37900
    CBSA name
    PEORIA, 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
    2023
    $11,142
    $25,820
    $109,410
    $135,230
    -
    $77,460
    $328,230
    $405,690

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    Chillicothe, IL 61523
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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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