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    634 Grand Ave Springfield, IL 62702

    For Sale
    $213,440

    High-visibility corner lot, ideal for redevelopment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This 0.49-acre commercial lot, located at 634 N Grand Ave W in Springfield, Illinois (APN 14280201074), presents a unique redevelopment opportunity. Situated on a lighted intersection in the B-1 Highway Business District, this property boasts excellent corner visibility and convenient access to I-55. Previously a gas station, all underground storage tanks have been removed, simplifying the development process. The location offers proximity to a variety of amenities, including numerous restaurants and retail shops, as well as Lake Springfield. Its strategic position just south of Abraham Lincoln Capital Airport and three miles north of downtown Springfield provides significant advantages. Springfield, the state capital of Illinois, also offers the cultural attractions of various museums in the surrounding area. This prime location and the cleared site make this an exceptional investment for retail or other commercial ventures. The asking price is $213,440. The property's zoning designation is B-1 Highway Business District.

    Property Features for 634 Grand Ave

    General Information

    Property type
    Land
    Lot Size
    21,344 SF

    HighLights

    • $213,440 asking price for 0.49‑acre commercial land parcel.
    • Located at 634 N Grand Ave W, Springfield, IL 62702 (APN 14280201074).
    • B‑1 Highway Business District zoning.
    • Former gas station site; USTs removed; excellent corner visibility at a lighted intersection.
    • Ideal for retail redevelopment; close proximity to I‑55, restaurants, retail, Lake Springfield, and Abraham Lincoln Capital Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6632978
    Latitude
    39.8158235

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    FAQs

    What type of property is this?
    Land - High-visibility corner lot, ideal for redevelopment.
    Where is this land located?
    The property is located at 634 Grand Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $213,440.
    What are key features of this property?
    This property features: $213,440 asking price for 0.49-acre commercial land parcel.; Located at 634 N Grand Ave W, Springfield, IL 62702 (APN 14280201074).; B-1 Highway Business District zoning.
    (502) 767-4199
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    Springfield, IL 62702
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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
    634 Grand Ave Springfield, IL 62702
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