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    102 Esser St Washington, IL 61571

    Sponsored
    For Sale
    $60,000

    0.5-acre lot, B-3 zoning, high visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.5-acre commercial land parcel, located at 102 Esser Street in Washington, Illinois (zip code 61571), presents a unique investment opportunity. The property, identified by APN numbers 02-02-19-313-017 and 02-02-19-313-018, is zoned B-3, offering considerable development flexibility. Situated on Washington Road/Route 8, it benefits from high visibility and significant traffic counts, ensuring maximum exposure for any future business. The asking price is $60,000, translating to a land value of $2.75 per square foot. This strategically located parcel is within the East Peoria Enterprise Zone and Sunnyland Corridor Development, providing substantial economic incentives for developers. These incentives may include (subject to approval) a 50% reduction in permit fees, a 100% property tax abatement on improvements for five years, and sales tax waivers. Detailed information regarding these incentives is available in supplementary documents, including the Enterprise Zone information, Sunnyland Corridor Development brochure, and plat and survey. This prime location and the attractive incentives make this property an ideal choice for businesses seeking a high-impact presence in a thriving area. Don't miss this chance to acquire a highly desirable commercial land parcel with significant development potential.

    Property Features for 102 Esser St

    General Information

    Property type
    Land
    Lot Size
    21,780 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.4950829
    Latitude
    40.691882

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    FAQs

    What type of property is this?
    Land - 0.5-acre lot, B-3 zoning, high visibility
    Where is this land located?
    The property is located at 102 Esser St Washington, IL.
    What is the asking price?
    The asking price for this property is $60,000.
    Request Owner's contact information
    102 Esser St Washington, IL 61571
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    Washington, IL 61571
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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
    102 Esser St Washington, IL 61571
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