Property summary
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
VerifiedCap rate & NOI
Current use
-
(Bike/Boat/Book/etc) Store
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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- Property Ownership
- Basic report summary
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning