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    Property profile & analytics
    OFF-MARKET
    Commercial land

    221 5th St, Lacon, IL 61540-1207

    0 ac lot
    Individually Owned Absentee Owner Free & Clear
    Property ID
    US28-3572675
    Property summary
    AI-generated overview

    This exceptional 2,267 square foot commercial property at 221 5th Street, Lacon, IL, presents a rare investment opportunity. Previously a bank, this historic building boasts stunning original features meticulously preserved. The interior showcases exquisite green and white tile work, imported carpeting, and impressive lighting fixtures, all contributing to a sophisticated and timeless ambiance. Two original bank vaults remain, one in the foyer and another in the basement, both in remarkably good condition – a unique selling point for any prospective buyer. The property's prime downtown Lacon location ensures high visibility and accessibility, making it ideal for a variety of commercial uses, including retail, office space, or even entertainment venues. The building's versatility allows for creative adaptation to suit diverse business needs. Furthermore, the roof was recently replaced in 2024, eliminating immediate maintenance concerns. This is a truly one-of-a-kind property offering a blend of historical charm and modern practicality. Don't miss this chance to own a piece of Lacon's history and establish your business in a vibrant downtown setting. The asking price is $59,000.

    Property profile
    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Lot 0 ac (100 SF)
    APN 04-26-480-016
    UPID US28-3572675
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    JOHN BUDD
    JOHN BUDD
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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