Property profile

212 Lincoln Hwy Waterman, IL 60556

OFF-MARKET
Commercial real estate
Property ID
US28-1587438
0.1 ac lot
Individually Owned Free & Clear
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Property summary

AI-generated overview

This 2,288 square foot commercial building located at 212 W Lincoln Highway in Waterman, IL, presents a unique investment opportunity. Currently operating as a laundromat, the property boasts 10 standard washing machines, two heavy-duty washers, and 7 dryers. All laundry equipment is included in the sale as-is. The front of the building includes a single bathroom. The rear section, historically used as a dining room/event space, features attractive barnwood paneling and is connected to the adjacent building at 208 W Lincoln Highway. This rear area benefits from central air conditioning and includes two additional bathrooms. The property's versatility allows for a variety of uses, including continued operation as a laundromat, or repurposing for retail, office space, or an event venue. The building's size and layout offer significant potential for creative adaptation. The property is being sold as-is. Note that the adjacent building at 208 W Lincoln Highway is also available for purchase, presenting an exceptional opportunity to acquire both properties for a combined use, such as a bar or music venue. The combined properties offer a significant footprint for a larger-scale commercial venture. The asking price for this property is $129,900.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.1 ac (4,144 SF)
APN 14-16-282-015
UPID US28-1587438

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store

Location

212 Lincoln Hwy Waterman, IL 60556-9732
Waterman metro Census 1800 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

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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