Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22700 Veterans Rd Morton, IL 61550-9550

    • Day care centers
    • 2,676 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2021
    $170,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2728465
    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

    • Day care centers

    Property Details for 22700 Veterans Rd

    Year built
    1997
    Lot size
    0.46 lot acres
    Property size
    2,676 SF
    Property type
    Day care centers
    APN
    06-06-06-302-002
    APU
    60606302002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morton
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.489
    Latitude
    40.6448
    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
    $3,567
    $12,010
    $46,640
    $58,650
    -
    $36,030
    $139,920
    $175,950

    Comparable in this City

    • Value Estimation by Request
      3,414 SF

      1800 Main St

      DAY CARE, PRE-SCHOOL • 3,414 SF
      1800 Main St, Morton, IL 61550-2912
      View Details
    • Value Estimation by Request
      11,748 SF

      1820 Main St

      DAY CARE, PRE-SCHOOL • 11,748 SF
      1820 Main St, Morton, IL 61550-2912
      View Details
    • Value Estimation by Request
      10,292 SF

      1610 Main St

      DAY CARE, PRE-SCHOOL • 10,292 SF
      1610 Main St, Morton, IL 61550-9057
      View Details
    • Value Estimation by Request
      11,050 SF

      420 Maxine Dr

      DAY CARE, PRE-SCHOOL • 11,050 SF
      420 Maxine Dr, Morton, IL 61550-2495
      View Details
    • Value Estimation by Request
      3,978 SF

      22172 Kennel Lk Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS • 3,978 SF
      22172 Kennel Lk Dr, Morton, IL 61550
      View Details
    • Value Estimation by Request
      1,700 SF

      22464 Main St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 1,700 SF
      22464 Main St, Morton, IL 61550-9202
      View Details

    Similar Nearby for Sale

    • New
      $1,500,000
      2.64 Acres

      Thriving Fitness Business Opportunity

      Successful fitness business with excellent visibility and accessibility.
      430 W Edgewood Ct, Morton, IL 61550
      View Details
    • $2,900,000
      13,200 SF

      Morton Building For Sale

      13,200 SF building with long-term tenant in place.
      1810 S Main St, Morton, IL 61550
      View Details
    • $299,900
      1.00 Acre

      Morton, IL Commercial Land

      One-acre commercial land parcel in high-profile retail area.
      121 W Ashland St, Morton, IL 61550
      View Details
    • $299,000
      2.38 Acres

      Morton Commercial Land Opportunity

      2.38 Acres, Prime Location, $299,000
      7 Unit, Morton, IL 61550
      View Details
    • $6,000,000
      60.00 Acres

      Morton, IL - 60 Acres Commercial Land

      Prime 60-acre development opportunity in Morton, IL.
      0 Lakeland Rd, Morton, IL 61550
      View Details
    • Contact for pricing
      2.00 Acres

      Morton Industrial Land - 2 Acres

      Prime Morton, IL industrial development lot.
      866 Birchwood St, Morton, IL 61550
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      139,893 SF

      Field Shopping Center: Morton, IL

      Morton Retail Center - Multiple Spaces Available
      1909-2141 Main St, Morton, IL 61550
      View Details
    • Contact for pricing
      2,960 SF

      Retail Space with Drive-Thru

      2,100 SF retail space with drive-thru in Morton, IL.
      600-604 S Main St, Morton, IL 61550
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Kroger Center

      Retail space for lease in Morton, IL, Kroger anchored center.
      1015-1067 W Jackson St, Morton, IL 61550
      View Details
    • Contact for pricing
      10,480 SF

      Morton Retail Space: Prime Location

      Restaurant/Retail Space Available; 2,960 sq ft
      600 Main St, Morton, IL 61550
      View Details
    • $19 SF/Yr
      6,214 SF

      Morton Medical Office Suite Available

      Prime Medical Office Space - I-74 Access
      621 Jackson St, Morton, IL 61550
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22700 Veterans Rd
    Morton, IL 61550-9550
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!