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    505 Reese Dr Collinsville, IL 62234

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    For Sale
    $547,800

    18.26 acre multifamily development site near I-55/70 and I-255.

    Lot size:
    18.26 Acres

    Property Features for 505 Reese Dr

    General Information

    Lot size
    18.26 Acres
    Source: Moodyscre

    Listing Agent: Michael Joe Hardin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Development Site Available

    This 18.26-acre site is zoned for multi-family development, with an estimated potential for 250 units. The property is located minutes from I-55/70, exit 11, and I-255, exit 25. Retail options, restaurants, and hotels are located nearby. All utilities are also located nearby, providing convenient access for development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Collinsville
    County
    Madison
    State
    Illinois
    Longitude
    -90.006363
    Latitude
    38.683291

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    FAQs

    What type of property is this?
    Land - 18.26 acre multifamily development site near I-55/70 and I-255.
    Where is this land located?
    The property is located at 505 Reese Dr Collinsville, IL.
    What is the asking price?
    The asking price for this property is $547,800.
    What are key features of this property?
    This property features: - 18.26 Acre multi-family development site (estimated 250 units); - Zoned for multi-family development; - Convenient access to I-55/70 (exit 11) and I-255 (exit 25)
    (618) 660-8759
    Request Owner's contact information
    505 Reese Dr Collinsville, IL 62234
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    Collinsville, IL 62234
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    Realmo Value Estimation

    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.

    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.

    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
    505 Reese Dr Collinsville, IL 62234
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