418 Locust StDelavan, IL 61734

Property Details for 418 Locust St

Year built

1981

Lot size

0.30 AC

Property size (Sq ft)

3,220 SF

Property type

Banks

APN

21-21-10-125-010

APU

212110125010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,266,381

  6.5%

  $1,168,967

  7%

  $1,085,469

• Comparable approach

  Method

  Valuation

  Relative Method

  $632,599

  Geo Method

  $632,599

• Alternative Use

  Use

  Valuation

  Residential

  $986,067

  Hospitality

  $903,232

  Educational

  $751,479

  Medical

  $777,323

  Retail

  $1,168,967

Location Insight

City

Delavan

County

Tazewell

State

Illinois

Latitude

40.3717

Longitude

-89.5468

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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