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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Commercial real estate
111 2nd W St Milan, IL 61264-2410
Entity Owned
2-yr Hold
Free & Clear
Property ID
US28-2572236
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1910
Construction
FRAME
Total area
21,969 SF
Lot
1.46 ac (63,598 SF)
Zoning code
MIL
APN
16-23-208-010
UPID
US28-2572236
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$907k
Blend (final)
Blend
$780k
Owner & transaction history
R & J Morhan LLC Series 111 · 2 yrs held
R & J Morhan LLC Series 111
since 2024
4 recorded transactions
Zoning & alternative use
MIL · Milan, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Milan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milan submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$780k
Range $702k – $858k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$36 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$28,503
Tax year 2022
Assessed value
$296,374
Assessed 2022
Previous assessed
$296,374
+0.0% YoY
Effective rate
9.62%
On assessed value
Assessed land
$73,837
Assessed improvement
$222,537
Land market value
$221,511
Improvement market value
$667,611
Total market value
$889,122
Applied tax rate
11,006.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1910
Construction
FRAME
Heating
NONE
Total area
21,969 SF
Lot
1.46 ac (63,598 SF)
Zoning code
MIL
APN
16-23-208-010
UPID
US28-2572236
Jurisdiction
ROCK ISLAND
Zoning & alternative use
MIL · Milan, ILZoning MIL · permitted uses
MIL · Milan, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1910
Construction
FRAME
Heating
NONE
Lot
1.46 ac
Current owner
From public records · entity-resolved
R & J Morhan LLC Series 111
Entity
Free & Clear · 2 yrs held
Mailing address
111 2ND ST W, MILAN, IL 61264-2410
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2024
—
R & J Morhan LLC Series 111
R & J Morgan LLC
Warranty Deed
—
Dec 7, 2023
—
R & J Morgan LLC Series 111
R & J Morgan LLC
Warranty Deed
—
Feb 9, 2018
—
R & J Morgan LLC
Kar-mart Ltd INC
Quit Claim Deed
related
—
Jun 12, 2017
—
R &e J Morgan LLC
Kar-mart Ltd INC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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