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    OFF-MARKET
    Banks

    418 Locust St, Delavan, IL 61734-7602

    3,220 SF 0.3 ac lot Built 1981
    Individually Owned 3-yr Hold Free & Clear
    Property ID
    US28-1462494
    Property summary
    AI-generated overview

    This exceptional 1,360 square foot commercial property is situated in the heart of downtown Delavan, Illinois, at 418 S Locust Street. The building is primarily constructed of brick, offering a classic and durable exterior. A significant advantage is the inclusion of allocated parking spaces, supplemented by the ample street parking readily available in the area. The roof is relatively new, having been replaced approximately three years ago, minimizing immediate maintenance concerns for the new owner. The current seller is an investor who has not utilized the premises, therefore, complete knowledge of all building features may be limited. This presents a unique opportunity for a buyer to explore and customize the space to their specific business needs. The property is offered at $169,000. Seller financing may be available contingent upon agreeable terms. For more information about the vibrant community of Delavan, Illinois, please visit delavanil.org. This property represents a strong investment opportunity in a desirable downtown location with the added benefit of recent roof replacement and convenient parking. The building's all-brick construction ensures longevity and a solid foundation for any commercial venture. Serious inquiries are encouraged to explore this promising opportunity further.

    Property profile
    Verified
    Property type Banks
    Use group FINANCIAL BUILDING
    Year built 1981
    Total area 3,220 SF
    Lot 0.3 ac (13,068 SF)
    APN 21-21-10-125-010
    UPID US28-1462494
    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
    Current use
    Occupant on record · Public records
    • Heartland Bank and Trust Company Bank Loan Service
    • ATM Atm
    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
    Phillip Drew Pawson · 3 yrs held
    Phillip Drew Pawson
    since 2022
    Last sale
    $60,000
    2 recorded transactions
    2022
    $60,000
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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