Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3406 Clear Lake Ave Springfield, IL 62702

    For Sale
    $78,500

    ±0.6-acre lot, ideal for business development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional ±0.6-acre commercial land parcel, located at 3406 Clear Lake Avenue in Springfield, Illinois (zip code 62702), presents a unique investment opportunity. The property boasts approximately 106 feet of frontage and a depth of approximately 255 feet, totaling 27,030 square feet. Its strategic location between the Best Western Clearlake Plaza and a Jiffi Stop Shell gas station provides excellent visibility and accessibility. Numerous other retail establishments are situated nearby, creating a thriving commercial environment. The property benefits from a highly visible position adjacent to the I-55 and I-72 interchange, ensuring significant exposure to a large volume of traffic. The land is zoned B-2 General Business Service District, offering a wide range of potential uses. The 2018 real estate taxes amounted to $2,210.74. The asking price for this prime commercial land is $78,500, translating to a land value of $2.90 per square foot. This represents a compelling opportunity for developers and investors seeking a well-located and versatile property in a bustling commercial area. The property's size, location, and zoning make it suitable for a variety of commercial ventures. Serious inquiries are encouraged.

    Property Features for 3406 Clear Lake Ave

    General Information

    Property type
    Land
    Lot Size
    26,136 SF

    HighLights

    • 0.6‑acre lot (106' frontage x 255' depth, 27,030 SF).
    • Excellent location between Best Western and Jiffi Stop.
    • Surrounded by numerous retail businesses.
    • High visibility due to I‑55 and I‑72 interchange proximity.
    • B‑2 General Business zoning.
    • 2018 property taxes: $2,210.74.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6007225
    Latitude
    39.8011573

    Nearby Similar for Sale

    • $150,000
      Pending

      Mixed-Use Property with Income Potential

      Mixed-use property with commercial space, apartments, and income potential.
      612 South Grand Ave, Springfield, IL 62704
      View Details
    • $550,000
      5,056 SF

      Springfield Bar and Restaurant For Sale

      Near west side bar and restaurant with gaming room.
      1577 W Wabash Ave, Springfield, IL 62704
      View Details
    • $375,000
      Pending

      Updated Commercial Space in Springfield

      Updated 5,227 sq ft commercial space with high visibility.
      2445 S 5Th St, Springfield, IL 62703
      View Details
    • $795,000
      10,000 SF

      Well-Maintained Office Building For Sale

      Move-in ready office building with ample parking in Springfield, IL.
      801 S Durkin Dr, Springfield, IL 62704
      View Details
    • $199,900
      Pending

      Springfield Commercial Property Near Capitol

      Corner property near State Capital with conversion potential.
      116 E Edwards St, Springfield, IL 62704
      View Details
    • $399,000
      Pending

      Springfield Residential Income Property

      Six-unit apartment building near downtown Springfield.
      1001 S 1St St, Springfield, IL 62704
      View Details

    FAQs

    What type of property is this?
    Land - ±0.6-acre lot, ideal for business development.
    Where is this land located?
    The property is located at 3406 Clear Lake Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $78,500.
    What are key features of this property?
    This property features: 0.6-acre lot (106' frontage x 255' depth, 27,030 SF).; Excellent location between Best Western and Jiffi Stop.; Surrounded by numerous retail businesses.
    (217) 494-0800
    Request Owner's contact information
    3406 Clear Lake Ave Springfield, IL 62702
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3406 Clear Lake Ave
    Springfield, IL 62702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3406 Clear Lake Ave Springfield, IL 62702
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.