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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Medical Office Space
1600 4th Ave, Morton, IL 61550-2889
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-1400724
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Total area
8,255 SF
Lot
2.64 ac (114,998 SF)
APN
06-06-28-105-009
UPID
US28-1400724
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$500k
Owner & transaction history
Patrick B Mcgrath · 1 yrs held
Patrick B Mcgrath
since 2025
Last sale
$486,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$810,000
+10.7%
Restaurant
$780,000
+6.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$520,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$730,000
Current use
COMMERCIAL (GENERAL)
$810,000
Change: +11% · Conversion: Easy
RESTAURANT
$780,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±10% · vs last sale $486k (Apr 4 2025)
Last sale anchor
$486k
Apr 4 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$61 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$43,251
Tax year 2023
Assessed value
$589,770
Assessed 2023
Previous assessed
$589,770
+0.0% YoY
Effective rate
7.33%
On assessed value
Assessed land
$111,370
Assessed improvement
$478,400
Land market value
$334,110
Improvement market value
$1,435,200
Total market value
$1,769,310
Applied tax rate
6,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1980
Heating
NONE
Buildings
5
Stories
1
Total area
8,255 SF
Lot
2.64 ac (114,998 SF)
APN
06-06-28-105-009
UPID
US28-1400724
Jurisdiction
TAZEWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$730,000
COMMERCIAL (GENERAL)
Est. value
$810,000
RESTAURANT
Est. value
$780,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Heating
NONE
Stories
1
Buildings
5
Lot
2.64 ac
Current owner
From public records · entity-resolved
Patrick B Mcgrath
Individual
Mailing address
17219 WASHINGTON RD, MORTON, IL 61550-9173
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2025
—
Smidt Properties LLC
—
Deed
related
$154,000 · Morton Community Bank
Apr 4, 2025
$486,000
Patrick B Mcgrath
Smidt Properties LLC
Warranty Deed
$520,000 · First Security Bank
Nov 4, 2024
$1,800,000
Smidt Properties LLC
Morton Medical Center LLC
Warranty Deed
$160,000 · Morton Community Bank
Nov 4, 2024
$200,000
Smidt Properties LLC
Morton Medical Center LLC
Warranty Deed
$160,000 · Morton Community Bank
May 27, 2020
—
Morton Medical Center LLC
—
Deed
related
$1,000,000 · Morton Cmnty Bk
Mar 18, 2005
—
Morton Medical Center LLC
Methodist Services INC
Warranty Deed
—
Mar 18, 2005
$63,000
Morton Medical Center LLC
Viktor,al
Warranty Deed
$1,024,000 · Morton Community Bank
—
—
Morton Medical Center LLC
—
Deed Of Trust
related
$1,000,000 · Morton Cmnty Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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