823 Main StThomson, IL 61285

Property Details for 823 Main St

Lot size

0.14 AC

Property type

Retail space

APN

12-12-25-201-023

APU

121225201023

Description

This exceptional 4,736 square foot mixed-use property in Thomson, Illinois presents a unique investment opportunity. Located on Main Street, this well-maintained 1998-built building offers a blend of commercial and residential space. The commercial area boasts a finished storefront with offices and a lobby, complemented by a rear garage, workshop, storage, and laundry facilities. Previously occupied by the Army Corps of Engineers, this space is ideal for a business needing both a professional front and ample storage. The property also includes two separate residential units, each featuring two bedrooms and one bathroom with an open kitchen and living area. Each unit offers independent utilities (water, gas, and electric). An additional adjoining lot enhances the property's potential. This property is perfect for an owner-operator seeking a combined living and working space, or an investor looking for rental income from both the commercial and residential components. Thomson's prime location offers access to abundant outdoor recreational activities, including hunting and fishing on the Mississippi River, making this an attractive proposition for outdoor enthusiasts. The property's versatility and location make it a compelling investment opportunity in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,595,475

  6.5%

  $1,472,746

  7%

  $1,367,550

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,537,845

  Geo Method

  $1,972,990

• Alternative Use

  Use

  Valuation

  Residential

  $1,242,317

  Hospitality

  $1,137,956

  Educational

  $946,766

  Medical

  $979,326

  Retail

  $1,472,746

Location Insight

City

Thomson

County

Carroll

State

Illinois

Latitude

41.9585

Longitude

-90.1007

Property Tax & Assessments

FAQs

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