723 2Nd St, Chillicothe, IL 61523
This exceptional commercial property, located at 723 N 2nd Street in Chillicothe, Illinois, presents a compelling investment opportunity. The nearly 3100 square foot building sits on a 14,190 square foot lot and is ideally situated just one block south of Chillicothe's burgeoning downtown area. Currently configured as a chiropractic office, this versatile space boasts a history as a medical practice, featuring a welcoming reception and waiting area, multiple offices, exam rooms, a nurse's station, and a kitchen area. Three half-bathrooms are included, with one readily adaptable to a full bathroom. Many rooms are equipped with sinks or have plumbing roughed in for future installations. The property benefits from two HVAC systems, with the northern system being newly installed in November 2024. Ample parking is provided by a 15-space lot, supplemented by on-street parking. A recent appraisal (January 2024) further validates the property's value. This property is zoned for Commercial and Medical Office use and offers significant potential for a variety of medical or commercial uses. The property's location, existing infrastructure, and recent upgrades make it an attractive option for both established businesses and new ventures seeking a prime location in a growing Illinois community. The asking price is $223,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.