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    Cummings Ln Washington, IL 61571

    Sponsored
    For Sale
    $1,500,000

    35 Acres, Multi-Use Zoning, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 35.11-acre parcel presents a remarkable investment opportunity in Washington, Illinois. Strategically located at the northwest corner of Cummings Lane and Cruger Road, this property boasts over 1,100 feet of frontage on Route 24 (Boyd Parkway), a major thoroughfare. The high-traffic location is underscored by a daily traffic count of 13,900 vehicles on Route 24 and 7,850 on Cummings Lane. The land is currently used for agriculture, but its C3 zoning permits a variety of commercial, industrial, and residential uses. This versatility is further enhanced by its proximity to a diverse range of established businesses, including healthcare facilities, a hotel, restaurants, and financial institutions. The property's location within the Northern Tazewell County Enterprise Zone may offer additional development incentives. The asking price for this significant land holding is $1,500,000. The Tax Assessor Parcel Number (APN) is 02-02-16-200-030. This is a rare chance to acquire a large, well-situated tract with substantial development potential in a thriving community.

    Property Features for 0 Cummings Ln

    General Information

    Property type
    Land
    Lot Size
    1,529,392 SF

    HighLights

    • 35.11‑acre parcel in Washington, IL, at the NW corner of Cummings Lane & Cruger Road.
    • Over 1,100 ft of frontage on high‑traffic Route 24 (Boyd Parkway), with 13,900 VPD on Route 24 and 7,850 VPD on Cummings Lane.
    • C3 zoning allows for commercial, industrial, and residential development.
    • Located near healthcare, hotels, restaurants, and financial institutions; situated in the Northern Tazewell County Enterprise Zone.
    • $1,500,000 asking price; APN 02‑02‑16‑200‑030.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.445985356055
    Latitude
    40.719554105707

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    FAQs

    What type of property is this?
    Land - 35 Acres, Multi-Use Zoning, High Traffic
    Where is this land located?
    The property is located at Cummings Ln Washington, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 35.11-acre parcel in Washington, IL, at the NW corner of Cummings Lane & Cruger Road.; Over 1,100 ft of frontage on high-traffic Route 24 (Boyd Parkway), with 13,900 VPD on Route 24 and 7,850 VPD on Cummings Lane.; C3 zoning allows for commercial, industrial, and residential development.
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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
    Cummings Ln Washington, IL 61571
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