212 Lincoln Hwy, Waterman, IL 60556-9732
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.
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Sacc-O-Suds (Bike/Boat/Book/etc) Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.