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    Wabash Ave Springfield, IL 62711

    Sponsored
    For Sale
    $8,500,000

    28+ Acres, Multi-Use Development Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 28.79-acre parcel presents a unique investment opportunity in Springfield, Illinois. Located on Wabash Avenue, this multi-use land is zoned for residential, commercial, and agricultural purposes, offering unparalleled flexibility for development. The property's prime West Side location boasts a thriving business environment, surrounded by established entities such as Wells Fargo, Bunn Corporate, new apartment complexes, and numerous auto dealerships. This strategic positioning ensures high visibility and accessibility, making it ideal for a variety of projects. The expansive acreage is readily divisible, allowing for tailored development plans to suit diverse needs and investment strategies. The asking price for this significant land holding is $8,500,000. The property is held under a partnership ownership structure. This is a rare chance to acquire a substantial tract of land in a rapidly growing area with significant potential for future appreciation. The property's versatility and strategic location make it an attractive proposition for developers, investors, and businesses seeking to establish a presence in a dynamic and prosperous market. The land is ready for immediate development, presenting a compelling opportunity to capitalize on the area's continued growth. Located in Sangamon County, Illinois, with a Springfield zip code of 62711.

    Property Features for 0 Wabash Ave

    General Information

    Property type
    Farms
    Lot Size
    1,254,092 SF

    HighLights

    • 28+ acres of developable land on Springfield's West Side, ready for immediate development.
    • Excellent location with surrounding businesses including Wells Fargo, Bunn Corporate, new apartments, and auto dealerships.
    • Divisible acreage allows for flexibility in development plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.7105905
    Latitude
    39.7628661

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    FAQs

    What type of property is this?
    Farm - 28+ Acres, Multi-Use Development Potential
    Where is this farm located?
    The property is located at Wabash Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: 28+ acres of developable land on Springfield's West Side, ready for immediate development.; Excellent location with surrounding businesses including Wells Fargo, Bunn Corporate, new apartments, and auto dealerships.; Divisible acreage allows for flexibility in development plans.
    Request Owner's contact information
    Wabash Ave Springfield, IL 62711
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    Springfield, IL 62711
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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
    Wabash Ave Springfield, IL 62711
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