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Property profile & analytics
OFF-MARKET
Estimated value
$1,655,000
Commercial land
207 Locust St, Normal, IL 61761-2544
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-2264655
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1992
Total area
21,168 SF
Lot
0.3 ac (13,125 SF)
Zoning code
R-3A
APN
14-28-255-013
UPID
US28-2264655
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
Current use
Occupant on record · Public records
-
Used Truck-Car Process Office Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.66M
Owner & transaction history
Franke Investments LLC · 1 yrs held
Franke Investments LLC
since 2025
3 recorded transactions
Zoning & alternative use
R-3A · Normal, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Normal submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Normal 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.66M
Range $1.49M – $1.82M · ±10%
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
$78 / 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
$37,020
Tax year 2023
Assessed value
$432,536
Assessed 2023
Previous assessed
$432,536
+0.0% YoY
Effective rate
8.56%
On assessed value
Assessed land
$90,393
Assessed improvement
$342,143
Land market value
$271,179
Improvement market value
$1,026,430
Total market value
$1,297,609
Applied tax rate
3,001.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1992
Heating
ELECTRIC
Stories
3
Total area
21,168 SF
Lot
0.3 ac (13,125 SF)
Zoning code
R-3A
APN
14-28-255-013
UPID
US28-2264655
Jurisdiction
MCLEAN
Zoning & alternative use
R-3A · Normal, IL
Zoning R-3A · permitted uses
R-3A · Normal, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Normal. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1992
Heating
ELECTRIC
Stories
3
Lot
0.3 ac
Current owner
From public records · entity-resolved
Franke Investments LLC
Entity
Mailing address
608 KINGSLEY ST STE A, NORMAL, IL 61761-5807
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2026
—
Franke Investments LLC
—
Deed
related
$959,444 · Park State Bank And Trust
Feb 4, 2025
—
Franke Investments LLC
Donald R Franke
Warranty Deed
—
Jun 14, 2016
—
Donald R Franke
—
Deed
related
$315,000 · Illinois National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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