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    Hwy 40 & Commerce Ln Highland, IL 62249

    For Sale
    Contact for pricing

    Prime Industrial & Commercial Land

    Property size:
    1,131,253 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional offering presents a unique opportunity to acquire shovel-ready land parcels in Highland, Illinois, ideally situated near major transportation arteries and amenities. The property encompasses a total of 1,131,253 square feet across various lot sizes ranging from 0.8 to 26 acres. Underground utilities, roads, and water detention are already in place, significantly reducing development time and costs. The land is zoned for industrial use, allowing for a diverse range of development possibilities, including office, flex/warehousing/distribution, retail, and service centers. Strategic location offers easy access to St. Joseph's Hospital (1.5 miles) and Interstate 70 (5.5 miles). Build-to-suit and leaseback options are available. Pricing varies by lot size, ranging from $1.90 to $5.95 per square foot. Specific lot sizes and pricing are as follows: Lots 1-4 (17 acres, $1.90/sf), Lots 5-6 (4.9 acres, $5.95/sf), Lots 8-9 (2.47 acres, $4.50/sf), Lot 10 (0.8 acres, $3.00/sf), and Lot 11 (0.8 acres, $3.00/sf). The property is vacant and ready for immediate development. This is an unparalleled opportunity for investors and developers seeking a prime location with significant upside potential. The APN is 01-1-24-06-00-000-004.001. The property is held under single ownership.

    Property Features for 0 Hwy 40 & Commerce Ln

    General Information

    Property type
    Land
    Square Feet
    1,131,253 SF
    Lot Size
    34,848 SF

    HighLights

    • 17 acres (Lots 1‑4) available at $1.90 per square foot.
    • 4.9 acres (Lots 5‑6) priced at $5.95 per square foot.
    • 2.47 acres (Lots 8‑9) offered at $4.50 per square foot.
    • 0.8‑acre lot (Lot 10) for sale at $3.00 per square foot.
    • 0.8‑acre lot (Lot 11) priced at $3.00 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Highland
    County
    Madison
    State
    Illinois
    Longitude
    -89.6919925
    Latitude
    38.7420223

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    FAQs

    What type of property is this?
    Land - Prime Industrial & Commercial Land
    Where is this land located?
    The property is located at Hwy 40 & Commerce Ln Highland, IL.
    What are key features of this property?
    This property features: 17 acres (Lots 1-4) available at $1.90 per square foot.; 4.9 acres (Lots 5-6) priced at $5.95 per square foot.; 2.47 acres (Lots 8-9) offered at $4.50 per square foot.
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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
    Hwy 40 & Commerce Ln Highland, IL 62249
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