Lakefront Land Parcel with Subdivision
3940 Graces Ln, Decatur, IL 62521
For Sale
$499,000
Private lakefront tract offers significant water frontage and the option to create multiple smaller lake tracts.
Property SizeContact for details
Lot Size8.10 Acres
Days on Market336
Property Features for 3940 Graces Ln
General Information
Standard status
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Listing Agency:
Brinkoetter REALTORS
(217) 875-0555
Listed By:
Robert Sparks
(217) 201-0235
Source:
Exprealty
Added: Dec 10, 2025
Changed: Oct 25
Last Checked: Nov 10 at 1:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brinkoetter REALTORS
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Investment Insights
Based on property information with market context.
This offering is a unique lakefront land parcel totaling approximately 8.1 acres, with about 666.5 feet of lake frontage. The property is irregular in shape, and much of the existing dead trees and undergrowth has been removed. The original use is identified as a church camp, and the site’s current condition reflects the recent clearing.
The parcel sits on a dead-end street and is described as very private. It is located on Basin 6, and the lake frontage provides direct access to the water along a long shoreline.
For buyers seeking a lake-oriented site, the property’s configuration and frontage support a variety of private development plans. The seller indicates it may be possible to subdivide the land into four separate 2-acre lake tracts, which could appeal to investors or buyers planning smaller, individually owned waterfront lots. All future plans should be confirmed with the appropriate local authorities and permitting requirements.
The parcel sits on a dead-end street and is described as very private. It is located on Basin 6, and the lake frontage provides direct access to the water along a long shoreline.
For buyers seeking a lake-oriented site, the property’s configuration and frontage support a variety of private development plans. The seller indicates it may be possible to subdivide the land into four separate 2-acre lake tracts, which could appeal to investors or buyers planning smaller, individually owned waterfront lots. All future plans should be confirmed with the appropriate local authorities and permitting requirements.
Key Highlights
- 8.1‑acre lakefront tract on Basin 6 with approximately 666.5 ft of lake frontage
- Option to subdivide into 4 separate 2‑acre lake tracts
- Previously used as a church camp
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Trade Area within ½ mile
15
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Demographics for 62521, IL
33,793
Population
16,169
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
66.0 sq mi
ZIP Area
512
Density / Sq Mi
$66,848
Median Household Income
$41,945
Median Earnings
$857
Median Rent
$119,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Waterfront Land - Private lakefront tract offers significant water frontage and the option to create multiple smaller lake tracts.
Where is this waterfront land located?
The property is located at 3940 Graces Ln Decatur, IL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 8.1‑acre lakefront tract on Basin 6 with approximately 666.5 ft of lake frontage; Option to subdivide into 4 separate 2‑acre lake tracts; Previously used as a church camp
