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    66 Corvette Dr Litchfield, IL 62056

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    66 Acres, I-55 Exit 52, Litchfield, IL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial land offering encompasses 66 acres of prime developable land, strategically positioned in Litchfield, Illinois, along Route 66. The property features 18 lots zoned C-2 Commercial, providing ample opportunity for diverse development. Its highly visible location directly off I-55, Exit 52, boasts an impressive 25,600 average daily traffic count, ensuring significant exposure for any business. The site benefits from its inclusion within a Tax Increment Financing (TIF) district and an Enterprise Zone, offering attractive incentives for developers. This location is already home to several established national retailers and restaurant/hotel chains, including Walmart, Aldi, and Dollar Tree, creating a thriving commercial environment. The property's APN numbers are 10-32-100-010, 10-32-100-014, 10-32-100-015, 10-32-300-030, 10-32-300-032, 10-32-300-035, 10-32-300-050, 10-32-301-001, 10-32-351-003, and 10-32-357-002. Land value ranges from $.75 to $1.95 per square foot. The address is 66 Corvette Dr, Litchfield, IL 62056, situated conveniently between St. Louis, Missouri, and Springfield, Illinois. This presents a unique opportunity to capitalize on a high-traffic location with significant development potential and attractive financial incentives.

    Property Features for 66 Corvette Dr

    General Information

    Property type
    Land
    Lot Size
    43,560 SF

    HighLights

    • 68 acres of developable land with 19 lots.
    • Strategically located between St. Louis, MO and Springfield, IL.
    • Excellent co‑tenancy with Walmart, Aldi, and Dollar Tree, among other national retailers and restaurants.
    • High visibility and accessibility via I‑55 (Exit 52), boasting 25,600 ADT.
    • C‑2 Commercial zoning.
    • Situated within a Tax Increment Financing (TIF) district, with Enterprise Zone incentives available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Skin Care Clinic Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Litchfield
    County
    Montgomery
    State
    Illinois
    Longitude
    -89.6741845
    Latitude
    39.1809034

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    FAQs

    What type of property is this?
    Land - 66 Acres, I-55 Exit 52, Litchfield, IL
    Where is this land located?
    The property is located at 66 Corvette Dr Litchfield, IL.
    What are key features of this property?
    This property features: 68 acres of developable land with 19 lots.; Strategically located between St. Louis, MO and Springfield, IL.; Excellent co-tenancy with Walmart, Aldi, and Dollar Tree, among other national retailers and restaurants.
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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
    66 Corvette Dr Litchfield, IL 62056
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