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    Property profile & analytics

    1505 Tower Dr Okawville, IL 62271

    • Commercial real estate
    • 1,400 SF
    • 6.05 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US28-5186602
    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

    • Commercial real estate

    Property Details for 1505 Tower Dr

    Year built
    1992
    Lot size
    6.05 lot acres
    Property size
    1,400 SF
    Property type
    Commercial real estate
    APN
    12-06-16-427-004

    Description

    This exceptional 6.05-acre commercial property in Okawville, Illinois, presents a unique investment opportunity. Located at 1505 N. Tower Dr., the site boasts 280 feet of high-visibility frontage on I-64, enjoying a daily traffic count of 31,000 vehicles. The property includes a 1,400 square foot office building featuring a reception area, three offices, a break room, and a restroom, along with a spacious 4,800 square foot pole barn equipped with three sliding drive-in doors and a concrete floor. The pole barn dimensions are 80' x 60', with three 15' x 14'21" doors and one 7'10" x 6'10" garage door. Utilities are readily available, including water service from the Village of Okawville and internet access through Charter Spectrum. The property is zoned HB1 (Highway Business) within a Tax Increment Financing (TIF) district, offering significant development potential. Its proximity to the Roland Barkau Golf Course adds further appeal. The asking price is $595,000, and the property is offered fee simple. Parcel number is 12-06-16-427-004. This is a rare opportunity to acquire a well-situated commercial property with significant development potential in a high-traffic location.

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Okawville
    County
    Washington
    State
    Illinois
    Longitude
    -89.535228
    Latitude
    38.4410256
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    1505 Tower Dr
    Okawville, IL 62271
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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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