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    7401 2nd St Machesney Park, IL 61115-2813
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    Property profile & analytics

    7401 2nd St Machesney Park, IL 61115-2813

    View on Map
    • Office Spaces
    • 1,403 SF
    • 0.54 lot acres
    Off-Market
    Property ID
    US28-0896613
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Farmers Insurance - Curt Brostrom / Insurance Agency
    • Farmers Insurance - Mark Wojciechowski / Insurance Agency

    Property Details for 7401 2nd St

    Year built
    1951
    Lot size
    0.54 lot acres
    Property size
    1,403 SF
    Property type
    Office Spaces
    APN
    08-31-178-004
    APU
    831178004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Machesney Park
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0546
    Latitude
    42.3326
    CBSA code
    40420
    CBSA name
    ROCKFORD, 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
    $4,329
    $34,737
    $21,426
    $56,163
    -
    $104,211
    $64,278
    $168,489

    Comparable in this City

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      $2,495,000
      13,090 SF

      4055 Steele Dr

      OFFICE (GENERAL) • 13,090 SF
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    • Value Estimation by Request
      30,000 SF

      9628 Forest Hills Rd

      Flex space • 30,000 SF
      9628 Forest Hills Rd, Machesney Park, IL 61115
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    • Value Estimation
      $890,000
      7,016 SF

      1700 Hutchins Rd

      OFFICE (GENERAL) • 7,016 SF
      1700 Hutchins Rd, Machesney Park, IL 61115-8360
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    • Value Estimation
      $1,405,000
      11,864 SF

      8900 2nd St

      OFFICE (GENERAL) • 11,864 SF
      8900 2nd St, Machesney Park, IL 61115-2086
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    • Value Estimation by Request
      2,666 SF

      6815 2nd St

      OFFICE (GENERAL) • 2,666 SF
      6815 2nd St, Machesney Park, IL 61115-3703
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    • Value Estimation by Request

      9609 Frst Hls Rd

      OFFICE (GENERAL)
      9609 Frst Hls Rd, Machesney Park, IL 61115-8215
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,090 SF

      Machesney Park Flex/Office Asset

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      4055 Steele Dr, Machesney Park, IL 61115
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      22,000 SF

      Adaptable Office and Industrial Facility

      22,000 SF facility with office and industrial adaptability.
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    • $31,500
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      Residential Lot in Growing Community

      Spacious 0.35-acre lot for a dream home.
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      10,918 SF

      Machesney Park Commercial Building For Sale

      Commercial building with showroom, warehouse, and cold storage.
      9924 N 2Nd St, Machesney Park, IL 61115
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      10,918 SF

      Machesney Park Showroom/Warehouse For Sale

      Showroom and warehouse with overhead doors and redevelopment potential.
      9924 N 2Nd St, Machesney Park, IL 61115
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      1 SF

      Machesney Park Retail Development Opportunity

      One acre commercial land parcel near retail corridor for sale.
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    Similar Nearby for Lease

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      2,500 SF

      Machesney Park Flex Industrial Space

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      9934 N Alpine Rd, Machesney Park, IL 61115
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    • Contact for pricing
      1,075 SF

      Retail Space Near Major Retailers

      1,075 SF retail space near Machesney Park retail corridor.
      10121 N 2Nd St, Machesney Park, IL 61115
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    • $12 SF/Yr
      6,888 SF

      Machesney Park Retail Space Available

      Retail and office spaces available in neighborhood shopping center.
      613-633 Harlem Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing

      Land Off IL Route 173

      Land available for rent off IL Route 173 and I-90.
      7294 West Lane Rd, Machesney Park, IL 61115
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    • Contact for pricing
      2,400 SF

      Retail Outlot with Drive-Thru Potential

      Prime retail space with drive-thru opportunity and high visibility.
      Burden Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing

      Commercial Land Lease Opportunity

      Land available for lease, ground lease, or build to suit.
      1601 W Lane Rd, Loves Park, IL 61115
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    Machesney Park, IL 61115-2813
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    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
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