Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land For Sale Bloomington Title is generated by Realmo AI

    704 S Eldorado Rd, Bloomington, IL 61704

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land available for purchase in Bloomington, Illinois.

    Type:LAND
    Lot size:
    1.21 Acres
    Added:
    May 4, 2026
    Days on Market:
    24
    Last Refresh:
    May 8 at 3:38 am

    Property Features for 704 S Eldorado Rd

    General Information

    Standard status
    Active
    Lot size
    1.21 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Jill Spratt
    Jill Spratt

    Listing agent Jill Spratt License #471022624

    Listing office SVN | Core 3

    Listing date May 4, 2026

    Source Moodyscre

    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 SVN | Core 3

    HighLights

    • Land available for purchase
    • Located in Bloomington, Illinois
    • Property is raw land, offering a blank canvas for development
    • No structures are currently on the property
    • Land is available immediately
    • Purchase will transfer ownership

    Overview

    This property is a land parcel located at 704 S Eldorado Rd, Bloomington, IL 61704. The property is offered for sale.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    McLean
    State
    Illinois
    Longitude
    -88.9513032
    Latitude
    40.4725523

    Nearby Similar for Sale

    • $419,000

      Commercial Building Near Four Seasons

      One-story brick building with open plan and newer features.
      806 Four Seasons Road, Bloomington, IL 61704
      View Details
    • $900,000
      4,120 SF

      Retail Space with Open Layout

      Versatile retail space with premier visibility and ample parking.
      1605 Morrissey Dr, Bloomington, IL
      View Details
    • $495,000
      2,100 SF

      Four-Unit Building on Empire Street

      Four-unit building with diverse tenants and redevelopment potential.
      1316 East Empire Street, Bloomington, IL 61701
      View Details
    • $340,000

      Bloomington Land Parcel For Sale

      16.8 acres of land near Veteran's Parkway.
      1723 Six Points Road, Bloomington, IL 61701
      View Details
    • $155,000

      Leased Investment Property Opportunity

      Two-unit property in Bloomington, Illinois, with immediate rental income.
      605 E Empire Street, Bloomington, IL 61701
      View Details
    • $345,000

      Bloomington Multifamily Property For Sale

      Multifamily property in Bloomington, Illinois, ideal for residential income.
      410 E Grove Street, Bloomington, IL 61701
      View Details
    • $950,000
      6,813 SF

      Downtown Bloomington Building with Parking

      Commercial building with 50 parking spaces in downtown Bloomington.
      615 N Main Street, Bloomington, IL 61701
      View Details
    • $8,500,000
      252,811 SF

      Expansive Bloomington Industrial Complex

      252,811 SF industrial complex suitable for warehouse/distribution.
      1100 East Bell Street, Bloomington, IL 61701
      View Details
    • $1,200,000
      13,580 SF

      Versatile Office Property with Storage

      Functional office building with training areas and secured outdoor storage.
      803 E LAFAYETTE ST, BLOOMINGTON, IL
      View Details
    • $550,000

      Bloomington Buildable Lots in Tri-Valley

      Three gorgeous lots for building a new home in Bloomington.
      Burr Oaks Lane lot: 2, 3 And 4, Bloomington, IL 61705
      View Details
    • $150,000

      Bloomington Multifamily Property Near Uptown

      Multifamily property near uptown Bloomington, ideal for investors.
      603 W Chestnut Street, Bloomington, IL 61701
      View Details
    • $127,000

      Buildable Lot in Crestwicke Community

      Expansive .52 acre lot for dream home in Bloomington, IL.
      Belfry Drive lot: 32 - 15875, Bloomington, IL 61705
      View Details

    FAQs

    What type of property is this?
    Land - Land available for purchase in Bloomington, Illinois.
    Where is this land located?
    The property is located at 704 S Eldorado Rd Bloomington, IL.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Land available for purchase; Located in Bloomington, Illinois; Property is raw land, offering a blank canvas for development
    (217) 722-3584 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jill Spratt
    Jill Spratt
    Real Estate License ID: 471022624
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    704 S Eldorado Rd, Bloomington, IL 61704
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!