Commercial Corner Development
For Sale
$175,000
700 W JEFFERSON Street, Springfield, IL 62702
LAND - Springfield, IL
Property SizeContact for details
Lot Size0.59 Acres
Days on Market511
Property Features for 700 W JEFFERSON Street
General Information
Property type
Land
Property subtype
Other
Zoning
Commercial
Lot features
Corner Lot, Level
High school
Springfield District #186
Directions
Corner of West Jefferson and Walnut
Standard status
Active
APN
14-28.0-382-031
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 1 REECES ADDN EX STRIP ON NORTH SIDE FOR ROAD
Tax Annual Amount
17627
Legal Description
LOT 1 REECES ADDN EX STRIP ON NORTH SIDE FOR ROAD
Utilities
Utilities
Natural Gas Available
Water source
Public
Listing Agency:
The Real Estate Group, Inc.
(217) 787-7000
Listed By:
Melissa Grady · License #475114067
(217) 691-0999
Added: Mar 19, 2025
Changed: Jul 16
Last Checked: Aug 11 at 4:06AM
MLS# CA1035172
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land parcel totals 25,666 square feet and includes electric, water, and gas services on site. The lot is configured with two entrances for in-and-out access from Walnut Street or West Jefferson Street, and it previously hosted restaurants.
Public remarks note heavy passing traffic, with over 23,000 cars per day going by this corner of West Jefferson and Walnut Streets. The property is described as zoned B1, and the liquor license is stated to follow the parcel forever.
According to the public remarks, the site is positioned for uses such as a new restaurant, video gaming, package liquor, or a coffee shop.
Public remarks note heavy passing traffic, with over 23,000 cars per day going by this corner of West Jefferson and Walnut Streets. The property is described as zoned B1, and the liquor license is stated to follow the parcel forever.
According to the public remarks, the site is positioned for uses such as a new restaurant, video gaming, package liquor, or a coffee shop.
Key Highlights
- High traffic location: Over 23,000 cars per day.
- B1 Zoning with transferable liquor license.
- Utilities on site: Electric, water, and gas.
Property Analytics
Property Profile
Current Use
Lease Details
23,000 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
2,183
Businesses Nearby
Explore this area
Business Placement
Demographics for 62702, IL
33,712
Population
17,083
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
90%
High-School Grad
15.4 sq mi
ZIP Area
2,189
Density / Sq Mi
$52,748
Median Household Income
$38,160
Median Earnings
$858
Median Rent
$102,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Corner lot on West Jefferson and Walnut Streets with utilities onsite and two access points.
Where is this commercial land located?
The property is located at 700 W JEFFERSON Street Springfield, IL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: High traffic location: Over 23,000 cars per day.; B1 Zoning with transferable liquor license.; Utilities on site: Electric, water, and gas.
