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    22864 St Rte 1 Danville, IL 61834

    Sponsored
    For Sale
    $445,000

    Prime 5-acre residential development site.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 5.1-acre parcel presents a remarkable opportunity for residential development in Danville, Illinois. Located at 22864 St Rte 1, this property boasts 404 feet of frontage along North Vermilion Street (State Route 1), offering excellent visibility and accessibility. The land is situated in Danville's thriving North Retail Corridor, directly across from the entrance to a Walmart development, ensuring high traffic volume and strong potential for future growth. The property's convenient location provides easy access to major roadways and essential amenities. With its expansive size and prime location, this development site is ideal for a variety of residential projects, catering to the growing demand for housing in the area. The assessed parcel number (APN) is 18-17-200-049. The asking price for this exceptional opportunity is $445,000. This is a rare chance to acquire a significant land parcel in a highly desirable location with significant development potential. The property is zoned for residential use. Serious inquiries are encouraged.

    Property Features for 22864 St Rte 1

    General Information

    Property type
    Land
    Lot Size
    222,156 SF

    HighLights

    • 5.1‑acre residential development site in Danville, IL.
    • 404 feet of frontage on North Vermilion Street (State Route 1) in Danville's North Retail Corridor.
    • Across from a Walmart, ensuring high traffic.
    • $445,000 asking price.
    • APN: 18‑17‑200‑049.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.6304257
    Latitude
    40.1966545

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    FAQs

    What type of property is this?
    Land - Prime 5-acre residential development site.
    Where is this land located?
    The property is located at 22864 St Rte 1 Danville, IL.
    What is the asking price?
    The asking price for this property is $445,000.
    What are key features of this property?
    This property features: 5.1-acre residential development site in Danville, IL.; 404 feet of frontage on North Vermilion Street (State Route 1) in Danville's North Retail Corridor.; Across from a Walmart, ensuring high traffic.
    (217) 918-0871
    Request Owner's contact information
    22864 St Rte 1 Danville, IL 61834
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    Danville, IL 61834
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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
    22864 St Rte 1 Danville, IL 61834
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