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    Reese Dr Collinsville, IL 62234

    Sponsored
    For Sale
    $547,800

    18-Acre Development Site, 250 Units Possible

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 18.26-acre site presents a remarkable opportunity for multifamily development in Collinsville, Illinois. Zoned R3 - Multifamily Planned, this property offers the potential to construct an estimated 250-unit residential complex. Priced at $547,800, or $30,000 per acre, this land boasts a highly desirable location. Its proximity to major transportation arteries, including Interstates 55/70 (Exit 11) and I-255 (Exit 25), ensures convenient access to the greater St. Louis metropolitan area. The site benefits from its close proximity to a variety of retail establishments, restaurants, and hotels, enhancing its appeal to potential residents. All necessary utilities are readily available nearby. Detailed site plans and engineering information are accessible upon request, facilitating a streamlined development process. The property's APN is 13-1-21-29-12-201-006/006.002. This prime location in Madison County, Illinois, at the address of Reese Drive, zip code 62234, makes this an exceptional investment opportunity for developers seeking to capitalize on the strong demand for multifamily housing in the area. Don't miss this chance to acquire a substantial and strategically located development parcel.

    Property Features for 0 Reese Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    795,406 SF

    HighLights

    • 18‑acre site, multi‑family zoning.
    • 250‑unit development potential.
    • Convenient access to I‑55/70 (Exit 11) and I‑255 (Exit 25).
    • Near major retail, restaurants, and hotels.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Collinsville
    County
    Madison
    State
    Illinois
    Longitude
    -90.004745
    Latitude
    38.6830908

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    FAQs

    What type of property is this?
    Multifamily property - 18-Acre Development Site, 250 Units Possible
    Where is this multifamily property located?
    The property is located at Reese Dr Collinsville, IL.
    What is the asking price?
    The asking price for this property is $547,800.
    What are key features of this property?
    This property features: 18-acre site, multi-family zoning.; 250-unit development potential.; Convenient access to I-55/70 (Exit 11) and I-255 (Exit 25).
    (618) 277-4400
    Request Owner's contact information
    Reese Dr Collinsville, IL 62234
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    Collinsville, IL 62234
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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
    Reese Dr Collinsville, IL 62234
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