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Property profile & analytics
FOR SALE
Commercial real estate
337 W 1St Ave, Milan, IL 61264
Entity Owned
~
Est. High Equity
Property ID
US28-1207969
For Sale
1 / 25
$395,000
337 W 1St Ave, Milan, IL 61264
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Construction
FRAME
Total area
4,038 SF
Lot
2.59 ac (112,820 SF)
Zoning code
MIL
APN
16-23-201-023
UPID
US28-1207969
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
Jad Properties LLC
Jad Properties LLC
since 2025
Last sale
$345,000
7 recorded transactions
Zoning & alternative use
MIL · Milan, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Milan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milan submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$19,387
Tax year 2022
Assessed value
$201,591
Assessed 2022
Previous assessed
$190,901
+5.6% YoY
Effective rate
9.62%
On assessed value
Assessed land
$147,199
Assessed improvement
$54,392
Land market value
$441,597
Improvement market value
$163,176
Total market value
$604,773
Applied tax rate
11,006.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1950
Construction
FRAME
Heating
NONE
Total area
4,038 SF
Lot
2.59 ac (112,820 SF)
Zoning code
MIL
APN
16-23-201-023
UPID
US28-1207969
Jurisdiction
ROCK ISLAND
Zoning & alternative use
MIL · Milan, IL
Zoning MIL · permitted uses
MIL · Milan, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milan. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
FRAME
Heating
NONE
Lot
2.59 ac
Current owner
From public records · entity-resolved
Jad Properties LLC
Entity
Mailing address
1711 112TH AVE, MILAN, IL 61264-5323
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2025
$345,000
Jad Properties LLC
Joseph W Proctor
Warranty Deed
$345,000 · Blackhawk Bank & Trust Co
Jun 23, 2022
—
Joseph W Proctor
—
Deed
related
$322,214 · Blackhawk Bank & Trust Co
May 12, 2022
—
Joseph W Proctor
—
Deed
related
$322,214 · Blackhawk Bank & Trust Co
Jan 27, 2021
—
Joseph W Proctor
—
Deed
related
$296,374 · Midwest Bk
Jan 8, 2020
—
Joseph W Proctor
—
Deed
related
—
Aug 17, 2016
—
Joseph W Proctor
—
Deed
related
—
Jul 25, 2003
$514,000
Joseph W Proctor
Underwood,velmar O
Grant Deed
$420,000 · Andalusia Community Bank
Jan 19, 2001
$250,000
Velmar O Underwood
Blaser,edwin E & Beverly L
Grant Deed
$330,000 · Blue Grass Savings Bank
—
—
Joseph W Proctor
—
Deed Of Trust
related
$25,000 · Andalusia Community Bank
—
—
Joseph W Proctor
—
Deed Of Trust
related
—
—
—
Joseph W Proctor
—
Deed Of Trust
related
—
—
—
Joseph W Proctor
—
Loan Modification
related
—
—
—
Joseph W Proctor
—
Deed Of Trust
related
—
—
—
Joseph W Proctor
—
Loan Modification
related
—
—
—
Joseph W Proctor
—
Loan Modification
related
—
—
—
Joseph W Proctor
—
Loan Modification
related
—
—
—
Joseph W Proctor
—
Loan Modification
related
—
—
—
Joseph W Proctor
—
Loan Modification
related
$296,374 · Midwest Bk
—
—
Joseph W Proctor
—
Deed Of Trust
related
$3,443 · Andalusia Community Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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