Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1222 Division St Morris, IL 60450-1559

    • Commercial land
    • 968 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Sep 08, 2023
    $1,750,000
    Value Estimations
    $1,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1327034
    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

    • Mindy Rampa Realtor/Broker / Real Estate Agency
    • Teddy Dow, Coldwell Banker Real Estate Group / Real Estate Agency
    • Erin Stuedemann - Coldwell Banker Real Estate Group / Real Estate Agency
    • Dana Hathorn, Crosstown Realtors / Real Estate Agency
    • Phebe Perino, Coldwell Banker Real Estate Group / Real Estate Agency

    Property Details for 1222 Division St

    Year built
    1920
    Lot size
    0.70 lot acres
    Property size
    968 SF
    Property type
    Commercial land
    APN
    05-04-278-027
    APU
    504278027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,785,000
      ML approach
      $1,725,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morris
    County
    Grundy
    State
    Illinois
    Longitude
    -88.4225
    Latitude
    41.3679
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN 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
    2023
    $5,441
    $69,520
    $0.00
    $69,520
    -
    $208,560
    $0.00
    $208,560

    Comparable in this City

    • Value Estimation by Request
      0.04 Acres

      Twilight Dr

      VACANT COMMERCIAL LAND • 0.04 Acres
      Twilight Dr, Morris, IL 60450
      View Details
    • Value Estimation by Request
      6.21 Acres

      Division St

      VACANT COMMERCIAL LAND • 6.21 Acres
      Division St, Morris, IL 60450
      View Details
    • Value Estimation by Request
      0.10 Acres

      47 Illinois Ave

      VACANT COMMERCIAL LAND • 0.10 Acres
      47 Illinois Ave, Morris, IL 60450
      View Details
    • Value Estimation by Request
      0.07 Acres

      507 Liberty St

      VACANT COMMERCIAL LAND • 0.07 Acres
      507 Liberty St, Morris, IL 60450-1847
      View Details
    • Value Estimation by Request
      5.13 Acres

      6698 Seneca Rd

      VACANT COMMERCIAL LAND • 5.13 Acres
      6698 Seneca Rd, Morris, IL 60450
      View Details
    • Value Estimation by Request
      3.33 Acres

      Morris, IL 60450

      VACANT COMMERCIAL LAND • 3.33 Acres
      Morris, IL 60450
      View Details

    Similar Nearby for Sale

    • $599,000
      8.34 Acres

      Versatile Building on Large Lot

      Former medical office on 8.43 acres with ample parking.
      1561 N Division St, Morris, IL 60450
      View Details
    • $649,900
      9.32 Acres

      Commercial Land on Route 47

      Commercial land with visibility on Route 47 and Route 80.
      Gore Rd, Morris, IL 60450
      View Details
    • $130,000
      0.32 Acres

      Commercial Land on High-Traffic Route

      0.32-acre property with commercial potential on high-traffic Route 6.
      523 Bedford Rd, Morris, IL 60450
      View Details
    • Contact for pricing

      Pad Ready Commercial Site

      Commercial land for sale with off-site detention.
      Rte 47, Morris, IL 60450
      View Details
    • $169,900
      3.02 Acres

      Secluded Wooded Lot in Morris

      3-acre wooded lot ideal for hunting or building a home.
      Winterbottom Rd, Morris, IL 60450
      View Details
    • $125,000
      5.37 Acres

      Goose Lake Township Land Parcel

      5+ acre parcel in Goose Lake Township, Morris, IL.
      0001 N Dresden Rd, Morris, IL 60450
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Morris, IL

      Retail space with open floor plan and ample parking.
      1459 Division St, Morris, IL 60450
      View Details
    • Contact for pricing

      Versatile Industrial and Flex Space

      Industrial condo with drive-through doors in Morris, Illinois.
      1299 Leah Rd, Morris, IL 60450
      View Details
    • Contact for pricing

      Heated Warehouse with Loading Dock

      25,000 sq ft heated warehouse with inside loading dock.
      922 Armstrong St, Morris, IL 60450
      View Details
    • Contact for pricing
      5,700 SF

      Restaurant Space Near I-80

      5,700 SF restaurant space with redevelopment opportunity near I-80.
      2685 Sycamore Dr, Morris, IL 60450
      View Details
    • Contact for pricing
      97,139 SF

      Professional Space with Route 47 Visibility

      Professional office space for lease with utilities included and ample parking.
      1715 Division St, Morris, IL 60450
      View Details
    • Contact for pricing
      35,072 SF

      Versatile Showroom and Warehouse Space

      Showroom, shop, and warehouse with development potential in Morris, IL.
      879 Bedford Rd, Morris, IL 60450
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1222 Division St
    Morris, IL 60450-1559
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!