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    601 Sparta St Steeleville, IL 62288

    • Office Properties & Spaces
    • 0.19 lot acres
    For Sale
    View listing
    $85,000
    Value Estimation
    Last Sale
    Jun 24, 2022
    $350,000
    Location Intelligence
    Property ID
    US28-4223911
    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

    • Office Properties & Spaces

    Property Details for 601 Sparta St

    Lot size
    0.19 lot acres
    Property type
    Office Properties & Spaces
    APN
    17-020-009-00
    APU
    1702000900

    Description

    This 0.19-acre commercial property located at 601 N Sparta Street, Steeleville, IL, is priced at $85,000 and presents a unique investment opportunity. Previously operating as a laundromat, the building retains all the necessary plumbing and electrical hookups for continued use as such. This provides a significant advantage for a prospective buyer looking to quickly establish a similar business. However, the adaptable layout and existing infrastructure make it equally suitable for a wide range of alternative commercial ventures. The property enjoys a high-visibility location, ensuring excellent exposure to potential customers. A key feature is the inclusion of an on-site apartment, offering the potential for supplemental rental income or convenient owner occupancy. Adding to its appeal, this property is eligible for liquor and/or gaming licenses, opening doors to additional revenue streams and business expansion possibilities. The building's square footage is not currently specified. This versatile property offers a rare blend of established infrastructure, prime location, and significant income-generating potential, making it an attractive proposition for entrepreneurs and investors alike.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $225,000

    • CAP approach

      CAP return
      Estimation
      6%
      $265,000
      6.5%
      $270,000
      7%
      $290,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $285,000
      Geo Method
      $325,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $260,000
      Retail
      $265,000
      Mixed-Use
      $285,000
      Hospitality
      $310,000
      Educational
      $315,000
      Residential Income
      $315,000
      Energy
      $315,000
      Income-Based Land
      $315,000
      Food Service
      $295,000

    Location Insight

    • Map
    • Local Demand
    City
    Steeleville
    County
    Randolph
    State
    Illinois
    Longitude
    -89.6588
    Latitude
    38.0099

    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
    $961
    $4,095
    $12,025
    $16,120
    -
    $12,285
    $36,075
    $48,360

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      307 Broadway

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      View Details
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      802 Townsend St

      OFFICE (GENERAL)
      802 Townsend St, Steeleville, IL 62288-1142
      View Details
    • Value Estimation by Request

      400 Broadway

      OFFICE (GENERAL)
      400 Broadway, Steeleville, IL 62288-1409
      View Details
    • Value Estimation
      $420,000
      0.66 Acres

      700 Shawneetown Trl

      OFFICE (GENERAL) • 0.66 Acres
      700 Shawneetown Trl, Steeleville, IL 62288-1128
      View Details
    • Value Estimation
      $340,000
      7.64 Acres

      5656 State Rte 4th 4

      OFFICE (GENERAL) • 7.64 Acres
      5656 State Rte 4th 4, Steeleville, IL 62288-2504
      View Details
    • Value Estimation
      $310,000
      0.01 Acres

      Steeleville, IL 62288

      OFFICE (GENERAL) • 0.01 Acres
      Steeleville, IL 62288
      View Details

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      Steeleville Commercial Building - Huge Potential

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    Request Owner's contact information
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    601 Sparta St
    Steeleville, IL 62288
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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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