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    16 Farmers Market Rd Springfield, IL 62707

    Sponsored
    For Sale
    $977,760

    11.99 Acres, Prime Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 11.99-acre commercial and industrial land parcel, located at Lots 14, 15, and 16 Farmers Market Road in Springfield, Illinois (zip code 62707), presents a significant development opportunity. Zoned L1, this property boasts high visibility from I-55, situated on the frontage road of Farmers Market Road and Atlanta Street. The site benefits from substantial daily traffic counts, with approximately 27,300 vehicles passing daily just north of the Sangamon Ave exit, and additional traffic from nearby Northfield Plaza and S. Dirksen Pkwy, home to major retail, medical, and restaurant businesses (approximately 26,300 vehicles per day). The asking price for this strategically located land is $977,760. While the listing specifically refers to Lots 14, 15, and 16, the original marketing materials mention a total of eight parcels ranging from 1.19 to 4.25 acres that may be sold individually or together. Further details regarding lot breakdown and pricing are available upon request. Tax parcel numbers include 15180102009, 15180301001, 15180301002, and potentially others. This property offers unparalleled access to major transportation arteries and a thriving commercial environment, making it ideal for a variety of development projects. The high traffic volume and strategic location ensure strong potential for return on investment.

    Property Features for 16 Farmers Market Rd

    General Information

    Property type
    Land
    Lot Size
    522,284 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Spa & Massage Building Supply Dental Office Hair Salon Wholesale Shop 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
    -89.5942108
    Latitude
    39.8384309

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    FAQs

    What type of property is this?
    Land - 11.99 Acres, Prime Development Opportunity
    Where is this land located?
    The property is located at 16 Farmers Market Rd Springfield, IL.
    What is the asking price?
    The asking price for this property is $977,760.
    Request Owner's contact information
    16 Farmers Market Rd Springfield, IL 62707
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    Springfield, IL 62707
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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
    16 Farmers Market Rd Springfield, IL 62707
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