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Property profile

126 Lincolnway Morrison, IL 61270

OFF-MARKET
Commercial real estate
Property ID
US28-3310421
View Sample
0.18 ac lot
Individually Owned 16-yr Hold Absentee Owner Free & Clear

Property summary

AI-generated overview

This exceptional mixed-use property, located at 126 E Lincolnway Road in Morrison, Illinois, presents a unique investment opportunity. Boasting 3,278 square feet across two stories, this vacant building sits on a 7,500 square foot lot and offers six parking spaces. Previously utilized as a church and exercise center, its adaptable layout and ample space make it perfect for a variety of commercial ventures. The property benefits from high visibility at the northwest corner of US Route 30 and Illinois Route 78, ensuring excellent exposure. While the roof requires replacement, the asking price of $99,900 reflects this need. Recent updates include new windows, and all levels, including a walk-out basement, are usable. The property is zoned C1-Commercial, providing flexibility for various business types. This is a chance to acquire a substantial building with significant potential in a desirable location. The property's history as a church and fitness center suggests a wide range of possible uses, from event spaces to retail or office spaces. The large lot size and ample parking further enhance its appeal. Serious inquiries are encouraged.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.18 ac (7,936 SF)
APN 918256012
UPID US28-3310421

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$250k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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