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    701 Cummings Ln Washington, IL 61571

    Sponsored
    For Sale
    $225,000

    Excellent location, high visibility, build your business.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 250' x 250' x 250' x 250' commercial lot in Washington, Illinois, presents a remarkable opportunity for development. Located at 701 N Cummings Lane, this property boasts a highly desirable location, situated between the thriving Barry Business Center (home to establishments such as Blue Margarita, Shear Creations, and StarCrest) and a tranquil pond. The proximity to a nearby hotel further enhances its appeal and potential for attracting customers. The expansive size of the lot offers ample space for a variety of commercial ventures, making it ideal for a strip mall, restaurant, or other businesses seeking high visibility and convenient access. This property is zoned for commercial use (verification required by buyer) and presents a unique chance to establish a thriving business in a well-established and growing community. The asking price is $225,000. The property's address is 701 N Cummings Lane, Washington, IL 61571. This is a rare opportunity to acquire a prime commercial lot in a strategic location with significant potential for return on investment. Serious inquiries only.

    Property Features for 701 Cummings Ln

    General Information

    Property type
    Land

    HighLights

    • 250' x 250' x 250' x 250' lot size.
    • Located at 701 N Cummings Lane, Washington, IL 61571.
    • Prime location between Barry Business Center and a pond, near a hotel.
    • Zoned for commercial use (buyer to verify).
    • $225,000 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.445041
    Latitude
    40.71235

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    FAQs

    What type of property is this?
    Land - Excellent location, high visibility, build your business.
    Where is this land located?
    The property is located at 701 Cummings Ln Washington, IL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: 250' x 250' x 250' x 250' lot size.; Located at 701 N Cummings Lane, Washington, IL 61571.; Prime location between Barry Business Center and a pond, near a hotel.
    Request Owner's contact information
    701 Cummings Ln Washington, IL 61571
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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
    701 Cummings Ln Washington, IL 61571
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