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    1960 Freedom Pkwy Washington, IL 61571

    For Lease
    $12 SF/Yr ($14,583 /Mo)

    14,000 SF Strip Center, 2 Suites Available

    Lot size:
    14,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 14,000 square foot, single-story Class B retail strip center, built in 2005, offers two available suites ranging from 1,540 to 4,060 square feet (the larger space is divisible to 2,030 square feet). Located in Washington, Illinois, in Tazewell County (zip code 61571), at 1960 Freedom Parkway, this property benefits from a highly visible location as an outparcel to a Walmart Supercenter. Strong co-tenancy includes Menards, Aldi, Kroger, Dollar Tree, and PNC Bank. The property features excellent access with dedicated, signalized turn lanes in all directions, further enhanced by a recently completed road extension connecting Cummings Lane to Freedom Parkway, increasing traffic flow and visibility. The property is zoned C3 and comprises five suites in total within a single building. Attractive leasing incentives are available, including three months free rent for a three-year lease or five months free rent for a five-year lease signed before December 31, 2024. A tenant improvement allowance is also offered. This presents a compelling opportunity for retailers seeking high-traffic exposure in a thriving commercial area.

    Property Features for 1960 Freedom Pkwy

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,000 SF
    Class
    B
    Total Rate
    14583.33

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    1970 Freedom Plaza
    Size
    4,060 SF
    Rate per SF
    $12
    Space
    1962 Freedom Plaza
    Size
    1,540 SF
    Rate per SF
    $15

    HighLights

    • 14,000 SF single‑story Class B retail strip center built in 2005.
    • Two available suites: 1,540 - 4,060 SF (larger divisible to 2,030 SF).
    • Located at 1960 Freedom Parkway, Washington, IL 61571 (Tazewell County).
    • Outparcel to Walmart Supercenter with strong co‑tenancy (Menards, Aldi, Kroger, Dollar Tree, PNC Bank).
    • Excellent access with signalized turn lanes and recently improved road access.
    • C3 zoning; five total suites.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.458255016627
    Latitude
    40.707611878371

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      Retail Space Near Walmart

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      Retail Suites in Cherry Tree Center

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    • $15 SF/Yr
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      Retail Space Near Walmart

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    FAQs

    What type of property is this?
    Neighborhood center - 14,000 SF Strip Center, 2 Suites Available
    Where is this neighborhood center located?
    The property is located at 1960 Freedom Pkwy Washington, IL.
    What is the lease rate?
    The lease rate is $12-$15 SF/Yr.
    What are key features of this property?
    This property features: 14,000 SF single-story Class B retail strip center built in 2005.; Two available suites: 1,540 - 4,060 SF (larger divisible to 2,030 SF).; Located at 1960 Freedom Parkway, Washington, IL 61571 (Tazewell County).
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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
    1960 Freedom Pkwy Washington, IL 61571
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