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    Us 51 & Rte 16 Pana, IL 62557

    Sponsored
    For Sale
    $1,200,000

    11-Acre C-2 Zoned Development Site, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 11.41-acre commercial land parcel, located at the high-traffic intersection of US 51 and Route 16 in Pana, Illinois (APN: 11-25-23-200-010-0), presents a unique development opportunity. The property boasts a C-2 zoning designation, allowing for a wide range of commercial uses. Its strategic location offers excellent visibility and accessibility, with an impressive average daily traffic count of 6,900 vehicles. All utilities are conveniently located nearby, simplifying infrastructure development. The asking price is $1,200,000, translating to approximately $105,170 per acre. The seller is willing to consider dividing the parcel to accommodate various development needs. This prime location in Christian County, Illinois (zip code 62557), offers significant potential for investors seeking a high-return commercial venture. The property's size and zoning make it ideal for a variety of commercial projects, capitalizing on the high traffic volume and convenient access. Don't miss this chance to acquire a highly desirable commercial land site in a thriving area.

    Property Features for 0 Us 51 & Rte 16

    General Information

    Property type
    Land
    Lot Size
    479,160 SF

    HighLights

    • 11.41‑acre C2‑zoned development site.
    • Divisible parcel.
    • All utilities readily available.
    • 6,900 average daily traffic count (ADT).
    • $2.41 per square foot sale price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Pana
    County
    Christian
    State
    Illinois
    Longitude
    -89.0800405
    Latitude
    39.3901644

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    FAQs

    What type of property is this?
    Land - 11-Acre C-2 Zoned Development Site, High Traffic
    Where is this land located?
    The property is located at Us 51 & Rte 16 Pana, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 11.41-acre C2-zoned development site.; Divisible parcel.; All utilities readily available.
    Request Owner's contact information
    Us 51 & Rte 16 Pana, IL 62557
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    Pana, IL 62557
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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
    Us 51 & Rte 16 Pana, IL 62557
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