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Property profile & analytics
OFF-MARKET
Estimated value
$2,575,000
Warehouses
510 Courtland St, Morton, IL 61550-9042
Individually Owned
1-yr Hold
Free & Clear
Property ID
US28-5665281
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
124,200 SF
Lot
8.6 ac (374,616 SF)
APN
06-06-09-300-019
UPID
US28-5665281
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
$3.28M
Blend (final)
Blend
$2.58M
Owner & transaction history
Brad Joseph · 1 yrs held
Brad Joseph
since 2024
7 recorded transactions
Zoning & alternative use
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 Morton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morton 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.58M
Range $2.32M – $2.83M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$21 / SF
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 2023Property tax & assessments
Tax year 2023
Tax billed
$121,541
Tax year 2023
Assessed value
$1,657,340
Assessed 2023
Previous assessed
$1,657,340
+0.0% YoY
Effective rate
7.33%
On assessed value
Assessed land
$181,520
Assessed improvement
$1,475,820
Land market value
$544,560
Improvement market value
$4,427,460
Total market value
$4,972,020
Applied tax rate
6,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Heating
NONE
Stories
1
Total area
124,200 SF
Lot
8.6 ac (374,616 SF)
APN
06-06-09-300-019
UPID
US28-5665281
Jurisdiction
TAZEWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2000
Heating
NONE
Stories
1
Lot
8.6 ac
Current owner
From public records · entity-resolved
Brad Joseph
Individual
Free & Clear · 1 yrs held
Mailing address
416 MAIN ST STE #1125, PEORIA, IL 61602-1154
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2024
$1,836,281
Brad Joseph
Masterson LLC
Special Warranty Deed
—
Jun 4, 2024
—
Masterson L L C
Gp Morton Portfolio LP
Special Warranty Deed
—
May 16, 2024
$6,274,900
Masterson LLC
Gp Morton Portfolio LP
Special Warranty Deed
—
May 2, 2003
$4,685,000
Gp Morton Portfolio LP
Cardinal Paper II LP
Grant Deed
—
Feb 6, 2003
—
Cardinal Paper II LP
Georgia-pacific Corp
Trustees Deed
$139,636,000 · Bank Of America
Feb 6, 2003
$979,000
Paper LP II
Georgia-pacific Corp
Grant Deed
—
Nov 1, 2002
—
Georgia-pacific Corp
Unisource Worldwide INC
Quit Claim Deed
related
—
Sep 16, 1999
$506,000
Unisource Worldwide INC
Prudential Cullinan Properties
Grant Deed
—
—
—
Gp Morton Portfolio LP
—
Deed Of Trust
related
$3,513,000 · Merrill Lynch Mortgage Lending
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.
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