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    Milby Ln Springfield, IL 62711

    Sponsored
    For Sale
    $2,000,000

    Prime Industrial Land, I-1 Zoning, Excellent Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 40.78-acre industrial land parcel presents a unique investment opportunity in Springfield, Illinois. Located on Milby Ln, with the address listed as Wabash Ave, this property boasts an I-1 zoning designation, making it perfectly suited for a wide range of industrial uses. Its strategic location on Springfield's rapidly expanding southwest side offers unparalleled access to major transportation arteries, including convenient proximity to Interstate 72. The expansive lot size provides ample space for large-scale development projects, offering significant potential for future growth and profitability. The property's APN is 21-11.0-300-030, and it's situated in Sangamon County, Illinois, with a zip code of 62711. The asking price for this remarkable property is $2,000,000. This is a rare chance to acquire a substantial industrial land holding in a thriving market, offering significant long-term investment potential. The property's geographical coordinates are 39.75982698671321 latitude and -89.74138288059842 longitude. Don't miss this opportunity to secure a prime piece of Springfield's industrial landscape.

    Property Features for 0 Milby Ln

    General Information

    Property type
    Land
    Lot Size
    1,776,377 SF

    HighLights

    • $2,000,000 asking price.
    • 40.78‑acre industrial land parcel.
    • I‑1 zoning.
    • Located in Springfield, IL (Sangamon County), near I‑72.
    • APN: 21‑11.0‑300‑030.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.741382880598
    Latitude
    39.759826986713

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    FAQs

    What type of property is this?
    Land - Prime Industrial Land, I-1 Zoning, Excellent Location
    Where is this land located?
    The property is located at Milby Ln Springfield, IL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: $2,000,000 asking price.; 40.78-acre industrial land parcel.; I-1 zoning.
    Request Owner's contact information
    Milby Ln Springfield, IL 62711
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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
    Milby Ln Springfield, IL 62711
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