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    Property profile & analytics

    1240 Main St Morton, IL 61550-2474

    • Residential income homes
    • 5,428 SF
    • 3.87 lot acres
    OFF-MARKET
    Value Estimation
    $4,305,000
    Last Sale
    Oct 26, 2023
    $5,212,000
    Location Intelligence
    Property ID
    US28-5735422
    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

    • Residential income homes

    Property Details for 1240 Main St

    Year built
    1995
    Lot size
    3.87 lot acres
    Property size
    5,428 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    06-06-20-311-004
    APU
    60620311004

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Morton
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.4706
    Latitude
    40.5983
    CBSA code
    37900
    CBSA name
    PEORIA, IL 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
    $64,505
    $185,180
    $694,410
    $879,590
    -
    $555,540
    $2,083,230
    $2,638,770

    Comparable in this City

    • Value Estimation
      $490,000
      2,912 SF

      418 Jefferson St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,912 SF
      418 Jefferson St, Morton, IL 61550-1869
      View Details
    • Value Estimation
      $2,005,000
      2,046 SF

      1301 Jefferson St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,046 SF
      1301 Jefferson St, Morton, IL 61550-1378
      View Details
    • Value Estimation
      $235,000
      9,664 SF

      170 Queenwood Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 9,664 SF
      170 Queenwood Rd, Morton, IL 61550-2930
      View Details
    • Value Estimation
      $380,000
      2,880 SF

      150 Queenwood Rd, Unit A-B

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,880 SF
      150 Queenwood Rd, Morton, IL 61550-2954
      View Details
    • Value Estimation
      $690,000
      3,536 SF

      77 Queenwood Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,536 SF
      77 Queenwood Rd, Morton, IL 61550-2923
      View Details
    • Value Estimation by Request
      2,046 SF

      1301 Jefferson St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,046 SF
      1301 Jefferson St, Morton, IL 61550-1378
      View Details

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      Morton Business Park Land for Sale

      B3 Zoned Lots, Ready to Build
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      View Details
    • $299,900
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      Morton Commercial Acre - High Visibility

      Prime 1-acre commercial lot, high traffic.
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    Similar Nearby for Lease

    • $12 SF/Yr
      1,400 SF

      Retail Space in Kroger Center

      Retail space for lease in Morton, IL, Kroger anchored center.
      1015-1067 W Jackson St, Morton, IL 61550
      View Details
    • Contact for pricing
      2,960 SF

      Retail Space with Drive-Thru

      2,100 SF retail space with drive-thru in Morton, IL.
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      View Details
    • $7 SF/Yr
      139,893 SF

      Field Shopping Center: Morton, IL

      Morton Retail Center - Multiple Spaces Available
      1909-2141 Main St, Morton, IL 61550
      View Details
    • Contact for pricing
      10,480 SF

      Morton Retail Space: Prime Location

      Restaurant/Retail Space Available; 2,960 sq ft
      600 Main St, Morton, IL 61550
      View Details
    • $19 SF/Yr
      6,214 SF

      Morton Medical Office Suite Available

      Prime Medical Office Space - I-74 Access
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      View Details
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    1240 Main St
    Morton, IL 61550-2474
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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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