Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Rantoul Commercial Development Opportunity Title is generated by Realmo AI

    2990 County Rd 1400 E, Rantoul, IL 61866

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land near Interstate 57 and Rantoul Family Sports Complex.

    Type:Land
    Added:
    Jun 27, 2024
    Days on Market:
    687
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 2990 County Rd 1400 E

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Steve Littlefield
    Steve Littlefield

    Listing agent Steve Littlefield License #475.138856

    Listing office Keller Williams Realty - Champaign

    Listing date Jun 27, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty - Champaign

    HighLights

    • Prime location directly off Interstate 57.
    • High traffic counts exceeding 38,000 vehicles per day.
    • Part of a large 134‑acre development.
    • Suitable for a wide range of commercial ventures including hotel, waterpark, retail, restaurant, etc.
    • Located near the Rantoul Family Sports Complex.
    • Opportunity to invest in a flourishing Rantoul area.

    Overview

    This commercial development opportunity is located near the Rantoul Family Sports Complex, within a 134-acre development. Situated off Interstate 57, the location benefits from traffic counts exceeding 38,000 per day. The area is suitable for new development, with possibilities for various businesses. Potential uses include a hotel, waterpark, outdoor entertainment center, strip mall, or restaurant. This property presents a commercial development opportunity in Rantoul.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Pharmacy Gym & Fitness Center Food Market Auto Parts Store Bar & Pub Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Rantoul
    County
    Champaign
    State
    Illinois
    Longitude
    -88.194037
    Latitude
    40.302783

    Nearby Similar for Sale

    • $485,000

      Rantoul, IL Commercial Development Land

      Prime commercial land near I-57, ideal for various developments.
      950 Broadmeadow Road, Rantoul, IL 61866
      View Details
    • $310,000

      Rantoul Commercial Self-Storage Facility

      Self-storage facility with 53 units, potential for income generation.
      402 E FLESSNER Avenue, Rantoul, IL 61866
      View Details
    • $75,000

      Former Children's Home For Sale

      Three-story brick building on 1.65-acre lot, centrally located.
      106 N Chanute Street, Rantoul, IL 61866
      View Details
    • $515,000

      Rantoul Commercial Self-Storage Opportunity

      Four metal self-storage buildings in Rantoul, Illinois for sale.
      320 E LETCHWORTH Avenue, Rantoul, IL 61866
      View Details
    • $370,000

      Rantoul Commercial Property with Fenced Yard

      Versatile commercial building with fenced yard, ideal for storage.
      121 E Neal Drive, Rantoul, IL 61866
      View Details
    • $188,900

      Commercial Land in High-Traffic Area

      Centrally located commercial property with endless possibilities in Rantoul, Illinois.
      333 S Century Boulevard, Rantoul, IL 61866
      View Details
    • $185,000

      Office and Storage Space

      Office and storage space with high visibility and easy access.
      810 S CENTURY Boulevard, Rantoul, IL 61866
      View Details
    • $49,900

      Prime Commercial Corner Parcel

      2.33 acre commercial lot with high visibility and accessibility.
      1316 YAKEL Street, Rantoul, IL 61866
      View Details
    • $563,000

      Commercial Land Near Sports Complex

      Commercial development opportunity near Interstate 57 and Rantoul.
      2995 County Road 1400 E, Rantoul, IL 61866
      View Details
    • $310,000

      Rantoul Storage Facility For Sale

      Storage facility available east of Rantoul, Illinois.
      402 E FLESSNER Avenue E, Rantoul, IL 61866
      View Details
    • $65,000
      4,250 SF

      Retail Space in Rantoul

      Retail space available for sale, totaling 4,250 square feet.
      500 East Champaign Avenue, Rantoul, IL 61866
      View Details
    • $233,000

      Unique Commercial Property with Potential

      Versatile 4800 SF property on 3 acres near Rantoul.
      1902 N County Road 3000 N, Rantoul, IL 61866
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land near Interstate 57 and Rantoul Family Sports Complex.
    Where is this commercial land located?
    The property is located at 2990 County Rd 1400 E Rantoul, IL.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: Prime location directly off Interstate 57.; High traffic counts exceeding 38,000 vehicles per day.; Part of a large 134‑acre development.
    (217) 356-6100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Steve Littlefield
    Steve Littlefield
    Real Estate License ID: 475.138856
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2990 County Rd 1400 E, Rantoul, IL 61866
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!