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    1000 Koke Mill Rd Springfield, IL 62711

    Sponsored
    For Sale
    $475,000

    Prime Springfield commercial land, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This 1.847-acre commercial land parcel, located at 1000 Koke Mill Road in Springfield, Illinois (zip code 62711), is offered at $475,000. The property boasts high visibility from the intersection of Old Jacksonville Road and Koke Mill Road. Its S-1 zoning designates it as a Commercial and Office District, presenting a unique opportunity for development. The land's value is assessed at $5.90 per square foot. The area is already home to a mix of medical, government, financial, and senior living facilities, as well as other businesses and offices. This location presents a significant advantage, as retail uses are currently lacking in the immediate vicinity. Potential uses could include restaurants, banks, grocery stores, pharmacies, dry cleaners, and other retail establishments. The property's 2023 property taxes totaled $14,075.48, and the assessor's opinion of fair market value is $477,615.00. Previously used as a parking lot, this site offers significant potential for a variety of commercial ventures. The property's strategic location and zoning make it an attractive investment opportunity in a thriving Springfield neighborhood.

    Property Features for 1000 Koke Mill Rd

    General Information

    Property type
    Land
    Lot Size
    80,455 SF

    HighLights

    • 1.847‑acre commercial land parcel in Springfield, IL (62711).
    • High visibility from Old Jacksonville Rd & Koke Mill Rd intersection.
    • Located near first‑class office spaces, medical facilities, and other developments.
    • S‑1 zoning allows for retail uses currently lacking in the area (restaurants, banks, grocery stores, etc.).
    • S‑1 zoning: Commercial & Office District.
    • 2023 Property Taxes: $14,075.48.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.7156402
    Latitude
    39.7815225

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    FAQs

    What type of property is this?
    Land - Prime Springfield commercial land, ideal for development.
    Where is this land located?
    The property is located at 1000 Koke Mill Rd Springfield, IL.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: 1.847-acre commercial land parcel in Springfield, IL (62711).; High visibility from Old Jacksonville Rd & Koke Mill Rd intersection.; Located near first-class office spaces, medical facilities, and other developments.
    (217) 494-0800
    Request Owner's contact information
    1000 Koke Mill Rd Springfield, IL 62711
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    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
    1000 Koke Mill Rd Springfield, IL 62711
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