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    Property profile & analytics

    220 5Th St Delavan, IL 61734

    • Bowling alleys
    • 8,976 SF
    • 0.34 lot acres
    For Sale
    View listing
    $180,000
    Value Estimation
    Location Intelligence
    Property ID
    US28-0482547
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bowling alleys

    Property Details for 220 5Th St

    Year built
    1945
    Lot size
    0.34 lot acres
    Property size
    8,976 SF
    Property type
    Bowling alleys
    APN
    21-21-10-301-002
    APU
    212110301002

    Description

    Exceptional investment opportunity awaits with this 8,976 square foot, ten-lane bowling alley located at 220 E 5th St, Delavan, IL 61734. The property is being offered at $180,000 and presents a unique chance to acquire a ready-to-reopen business. All ten bowling lanes and their mechanical systems are fully operational, requiring only cosmetic updates to restore the facility to its former glory. The existing kitchen needs modernization to meet the needs of a new owner. Significant upside potential exists with the possibility of obtaining a liquor license and introducing gaming options on-site. A large fenced lot provides ample space for outdoor expansion, such as a patio area, or even an addition to the existing building. Furthermore, there's a strong possibility of securing TIF (Tax Increment Financing) funds in May to assist with renovations or expansion projects. This property offers a compelling blend of established infrastructure and significant growth potential, making it an ideal acquisition for an ambitious entrepreneur. Don't miss this chance to own a piece of Delavan's history and shape its future.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Delavan
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5454
    Latitude
    40.3711
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,080
    $7,000
    $4,730
    $11,730
    -
    $21,000
    $14,190
    $35,190

    Comparable in this City

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      VACANT COMMERCIAL LAND • 24,710 SF
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      110 3rd St

      LIGHT INDUSTRIAL • 1,749 SF
      110 3rd St, Delavan, IL 61734-7400
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      Il Rte 122

      INDUSTRIAL (GENERAL) • 14.09 Acres
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      2.50 Acres

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      11.51 Acres

      Delavan, IL 61734

      INDUSTRIAL (GENERAL) • 11.51 Acres
      Delavan, IL 61734
      View Details
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    220 5Th St
    Delavan, IL 61734
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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