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

    121 Elm St Alton, IL 62002

    • Commercial real estate
    • 30,022 SF
    For Sale
    View listing
    $285,000
    Value Estimation
    Location Intelligence
    Property ID
    US28-1135778
    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

    • McKinley Elementary School / Elementary School

    Property Details for 121 Elm St

    Construction
    BRICK
    Property size
    30,022 SF
    Property type
    Commercial real estate
    APN
    23-2-07-02-06-105-005
    APU
    232070206105005

    Description

    This exceptional 2.18-acre property in Alton, Illinois, presents a unique investment prospect. The former school building at 121 W Elm Street offers a wealth of potential for adaptive reuse. Its classic architecture, high ceilings, and abundant natural light create a captivating atmosphere. The expansive interior includes multiple classrooms, a gymnasium, an auditorium, a kitchen, and administrative offices, providing flexibility for diverse projects. The layout allows for creative repurposing into various commercial ventures. Imagine transforming this landmark into trendy loft apartments, a vibrant co-working space, or a unique condominium complex. The spacious outdoor area offers ample room for expansion, recreational amenities, or beautifully landscaped communal gardens. The property's size and versatility make it ideal for a variety of uses, including a private school, daycare center, or vocational training center. The building's substantial size and desirable location in Alton present a rare opportunity to acquire a significant property with immense potential for substantial return on investment. The asking price is $285,000. This is a chance to acquire a piece of Alton's history and shape its future.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $600,000

    • CAP approach

      CAP return
      Estimation
      6%
      $555,000
      6.5%
      $595,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $620,000
      Geo Method
      $670,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $685,000
      Retail
      $585,000
      Mixed-Use
      $590,000
      Hospitality
      $575,000
      Educational
      $565,000
      Residential Income
      $570,000
      Energy
      $675,000
      Income-Based Land
      $520,000
      Food Service
      $680,000

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.1871
    Latitude
    38.9204
    CBSA code
    41180
    CBSA name
    ST. LOUIS, MO-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
    2022
    $14,591
    $37,810
    $128,500
    $166,310
    -
    $113,544
    $385,886
    $499,430

    Comparable in this City

    • Value Estimation by Request
      21.60 Acres

      2600 Fosterburg Rd

      Commercial real estate • 21.60 Acres
      2600 Fosterburg Rd, Alton, IL 62002
      View Details
    • Value Estimation by Request
      0.08 Acres

      100 Blk Elm W St

      COMMERCIAL (GENERAL) • 0.08 Acres
      100 Blk Elm W St, Alton, IL 62002
      View Details
    • Value Estimation by Request

      Alton, IL 62002

      COMMERCIAL (GENERAL)
      Alton, IL 62002
      View Details
    • Value Estimation by Request
      0.10 Acres

      100 13th St

      COMMERCIAL (GENERAL) • 0.10 Acres
      100 13th St, Alton, IL 62002-7208
      View Details
    • Value Estimation by Request
      0.18 Acres

      100 17th St

      COMMERCIAL (GENERAL) • 0.18 Acres
      100 17th St, Alton, IL 62002
      View Details
    • Value Estimation by Request
      0.08 Acres

      1900 20th St

      COMMERCIAL (GENERAL) • 0.08 Acres
      1900 20th St, Alton, IL 62002
      View Details

    Similar Nearby for Sale

    • $285,000

      Alton Warehouse: Huge Development Potential

      Historic school building, 95,000 sq ft lot, $285,000.
      121 Elm St, Alton, IL 62002
      View Details
    • $275,000

      3015 Belle St, Alton, IL 62002

      Commercial real estate
      3015 Belle St, Alton, IL 62002
      View Details
    • $775,000
      26.00 Acres

      Alton Commercial Property: 26 Acres & Building

      Prime Alton location, 26 acres, large building.
      845 Danforth St, Alton, IL 62002
      View Details
    • $285,000
      2.18 Acres

      Historic Alton School Conversion

      Prime Commercial Redevelopment Opportunity
      121 Elm St, Alton, IL 62002
      View Details
    • $550,000
      7,126 SF

      Retail, Warehouse Space For Sale

      Commercial retail, warehouse, and garage space available for purchase.
      1856 E Broadway, Alton, IL 62002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,302 SF

      Alton Retail Space: Beltline Center

      Prime Alton retail space available.
      2600 Homer Adams Pkwy, Alton, IL 62002
      View Details
    • $2,948 /Mo

      Commercial Land Ready For Development

      Commercial land suitable for various development projects, high-traffic location.
      3412 Fosterburg Rd, Alton, IL 62002
      View Details
    • Contact for pricing

      Alton Retail Space Available

      Retail space with basement storage in Alton, Illinois.
      2850 Homer Adams Pkwy, Alton, IL 62002
      View Details
    • Contact for pricing
      3,630 SF

      Alton Retail Space For Lease

      High-traffic location, two spaces available.
      1750 Homer M Adams Pkwy, Alton, IL 62002
      View Details
    • $700 /Mo
      30,980 SF

      Alton Office Space for Lease

      Office space available in full-service building with parking.
      307 Henry St, Alton, IL 62002
      View Details
    • $15 SF/Yr
      1,200 SF

      Retail Space in High-Traffic Area

      1,200 SF retail space in a busy retail area.
      2709-2714 Corner Ct, Alton, IL 62002
      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.
    121 Elm St
    Alton, IL 62002
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    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.