Property profile

221 5th St Lacon, IL 61540

OFF-MARKET
Commercial land
Property ID
US28-3572675
0 ac lot
Individually Owned Absentee Owner Free & Clear
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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

Location

221 5th St Lacon, IL 61540-1207
Lacon metro Census 961400 PEORIA, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$245k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k

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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