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    Property profile & analytics

    118 Main St Palestine, IL 62451-1244

    • Commercial real estate
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US28-4632475
    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

    • HOME PLATE / Breakfast Restaurant / American Restaurant

    Property Details for 118 Main St

    Property type
    Commercial real estate
    APN
    06-4-34-044-072-000
    APU
    6434044072000

    Description

    This turnkey restaurant in Palestine, IL, presents a unique investment opportunity. Located on Main Street, this 1,700 square foot establishment boasts high visibility and foot traffic. Built in 1900, the property sits on a 0.08-acre lot (APN: 06-4-34-044-072-000) and is zoned COM. The interior features a fully equipped kitchen and ample seating for 75+ patrons. All operations are compliant with state and local ordinances. This prime location offers significant potential for growth within a thriving community, making it an ideal choice for an established or aspiring restaurateur. The asking price is $139,900. This property represents a chance to acquire a well-established business in a desirable location with significant upside potential. The property's history and prime location combine to create a truly unique opportunity for a buyer looking to enter the restaurant industry or expand their existing portfolio. The property is ready for immediate operation, minimizing start-up costs and maximizing return on investment. Don't miss this chance to own a piece of Palestine's vibrant Main Street.

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Palestine
    County
    Crawford
    State
    Illinois
    Longitude
    -87.6124
    Latitude
    39.0022

    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
    $858
    $3,252
    $7,277
    $10,529
    -
    $9,756
    $21,831
    $31,587

    Comparable in this City

    • Value Estimation by Request

      Palestine, IL 62451

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      Lincoln

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      Lincoln, Palestine, IL 62451
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      0.50 Acres

      Palestine, IL 62451

      COMMERCIAL (GENERAL) • 0.50 Acres
      Palestine, IL 62451
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      107 Grand Pr St

      COMMERCIAL (GENERAL)
      107 Grand Pr St, Palestine, IL 62451-1135
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      200 Grand Pr St

      COMMERCIAL (GENERAL)
      200 Grand Pr St, Palestine, IL 62451-1102
      View Details
    • Value Estimation by Request

      109 Main St

      COMMERCIAL (GENERAL)
      109 Main St, Palestine, IL 62451-1265
      View Details

    Similar Nearby for Sale

    • $60,000

      Historic Commercial Building on Main

      Original Mesker building, formerly a pizza parlor, sold as-is.
      105 S Main St, Palestine, IL 62451
      View Details
    • New
      Contact for pricing
      0.44 Acres

      Two Vacant Lots in Palestine

      Two large lots suitable for building with utility access.
      000 E Fort Dr, Palestine, IL 62451
      View Details
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    118 Main St
    Palestine, IL 62451-1244
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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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