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    Property profile & analytics

    115 Collins St Mendon, IL 62351

    • Commercial real estate
    For Sale
    View listing
    $325,000
    Value Estimation
    Location Intelligence
    Property ID
    US28-4340478
    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

    • Mendon's Diner & Tap / Restaurant
    • ATM / Atm / Grocery Store

    Property Details for 115 Collins St

    Property type
    Commercial real estate
    APN
    70040300000
    APU
    70040300000

    Description

    This exceptional commercial property located at 115 W Collins Street, Mendon, IL, presents a unique investment opportunity. The 8,574 square foot building sits on a 0.32-acre lot and is currently home to a successful restaurant and bar. The establishment features a spacious dining area perfect for large groups, a full-service wrap-around bar, and a dedicated game room ideal for entertainment and private events. Ample rear parking ensures convenient customer access. Adding to the property's income potential are three apartments, all currently occupied, providing a consistent rental stream. This turnkey operation offers a blend of established business and rental income, making it an attractive proposition for investors seeking a diversified portfolio. The asking price for this dynamic commercial property is $310,000. The property's prime location in the heart of Mendon, IL, ensures high visibility and accessibility for both the restaurant and apartment tenants. This is a rare chance to acquire a well-established, income-producing property with significant upside potential. The combination of a thriving restaurant and consistently occupied apartments makes this a truly compelling investment opportunity. Serious inquiries are encouraged.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mendon
    County
    Adams
    State
    Illinois
    Longitude
    -91.2844
    Latitude
    40.0884
    CBSA code
    39500
    CBSA name
    QUINCY, IL-MO MICROPOLITAN 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
    2021
    $3,710
    $4,440
    $45,480
    $49,920
    -
    $13,320
    $136,440
    $149,760

    Comparable in this City

    • Value Estimation by Request

      Mendon, IL 62351

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      5.10 Acres

      Mendon, IL 62351

      COMMERCIAL (GENERAL) • 5.10 Acres
      Mendon, IL 62351
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    • Value Estimation by Request
      6.51 Acres

      2259 1100th St

      COMMERCIAL (GENERAL) • 6.51 Acres
      2259 1100th St, Mendon, IL 62351-2720
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    • Value Estimation by Request

      103 Collins St

      COMMERCIAL (GENERAL)
      103 Collins St, Mendon, IL 62351-1264
      View Details
    • Value Estimation by Request

      878 Hwy 61

      COMMERCIAL (GENERAL)
      878 Hwy 61, Mendon, IL 62351
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    • Value Estimation by Request

      413 Washington St

      COMMERCIAL (GENERAL)
      413 Washington St, Mendon, IL 62351-1272
      View Details
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    115 Collins St
    Mendon, IL 62351
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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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