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Property profile & analytics
FOR SALE
Life science properties

1810 S Main St Morton, IL 61550

13,200 SF 1.58 ac lot Built 1979
Entity Owned 1-yr Hold Free & Clear
Property ID
US28-1962918
Property summary
AI-generated overview

This exceptional net-leased investment opportunity presents a 13,200 square foot free-standing medical office building located at 1810 S Main St, Morton, IL 61550, in Tazewell County. The property enjoys a prime location near Peoria, Illinois. For the past 45 years, this building has served as a forensic laboratory for the Illinois State Police Department, demonstrating a long-standing and stable tenancy. The building has recently undergone significant improvements, including a complete overhaul of the HVAC system, a refreshed parking lot, and extensive interior office renovations. These upgrades ensure the property remains in excellent condition and caters to the needs of its established tenant. Further enhancing its investment appeal, the lease has been recently renewed for a substantial 10-year term, incorporating built-in rent escalations that provide predictable income growth. This presents a rare opportunity to acquire a stable, net-leased property with a long-term, creditworthy tenant and a proven track record of success. The property's location, recent renovations, and long-term lease make it an attractive investment for discerning buyers seeking a secure and profitable addition to their portfolio. The building is classified as a medical office and is situated at latitude 40.591576 and longitude -89.4735203.

Property profile
Verified
Property type Life science properties
Use group R&D FACILITY, LABS, PHARMA
Year built 1979
Total area 13,200 SF
Lot 1.58 ac (68,825 SF)
APN 06-06-29-115-037
UPID US28-1962918
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
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Deerpath Preferred Investments LLC · 1 yrs held
Deerpath Preferred Investments LLC
since 2024
2 recorded transactions
2024
Price N/A
2019
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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