1705 Morton Ave Jacksonville, IL 62650
- Commercial real estate
- 1.01 lot acres
Current Use by Public Records
- Amanda Gerson, O.D. / Optician / Optometrist
- Joseph Allen Herba / Optometrist
- Alicja Fitzgerald / Optometrist
- David Anderson / Optometrist
- Thomas Esposito / Optometrist
Property Details for 1705 Morton Ave
- Lot size
- 1.01 lot acres
- Property type
- Commercial real estate
- APN
- 09-30-100-007
- APU
- 930100007
Description
This 3,400 square foot single-tenant office building, situated on a one-acre lot at 1705 W Morton Ave in Jacksonville, Illinois, presents a unique investment opportunity. Built in 1981 and renovated in 2018, the property boasts a professional image, ideal for executive, medical, or traditional office uses. The building features numerous offices and two large work/meeting/display rooms, wired for security inside and out with floor electrical outlets. A high-security entry vestibule enhances safety. The location is exceptional, situated on Jacksonville's retail and business corridor, experiencing high traffic volume exceeding 20,000 cars daily, according to IDOT data. This prime location offers excellent visibility and accessibility, benefiting from its proximity to major retailers such as Walmart, Home Depot, County Market, and numerous other national chains. The property includes 23 parking spaces. Zoned B-3 Office - Retail, this building is conveniently located near the Westgate Avenue cross street, one mile from the new US 67 @ I-72 Interchange, and benefits from the vibrant community of Jacksonville and South Jacksonville (combined population exceeding 25,000). The property's strategic location within Morgan County, near Springfield, St. Louis, and Chicago, serves a diverse economy encompassing business, agriculture, education, and state institutions. The true market area extends to five or more surrounding counties, encompassing a population exceeding 55,000. This is a rare opportunity to acquire a well-maintained, high-traffic office building in a thriving commercial area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $290,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $435,000
- 6.5%
- $400,000
- 7%
- $395,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $420,000
- Geo Method
- $375,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $385,000
- Retail
- $430,000
- Mixed-Use
- $405,000
- Hospitality
- $375,000
- Educational
- $345,000
- Residential Income
- $365,000
- Energy
- $450,000
- Income-Based Land
- $450,000
- Food Service
- $385,000
Location Insight
- Map
- Local Demand
- City
- Jacksonville
- County
- Morgan
- State
- Illinois
- Longitude
- -90.2583
- Latitude
- 39.7224
- CBSA code
- 27300
- CBSA name
- JACKSONVILLE, IL MICROPOLITAN STATISTICAL AREA