0 Albany Pl Decatur, IL 62521
This exceptional 18.2-acre parcel in Decatur, Illinois, presents a unique investment opportunity. The property, zoned R-3, comprises 15 undeveloped duplex lots, ready for immediate development. Approved floor plans for both three-bedroom, two-bathroom and two-bedroom, two-bathroom units are in place, streamlining the construction process. This development is specifically designed for an adult community (55+). Its strategic location offers unparalleled convenience, situated approximately one mile from Lake Decatur and Decatur Airport, and minutes from US 36 (18,600 AADT). The property benefits from proximity to a thriving shopping district, anchored by major retailers such as Walmart and Kroger, along with numerous other amenities including Walgreens, Rural King, medical facilities, movie theaters, and fast-food restaurants. Decatur's location provides easy access to major cities, including Springfield, Bloomington-Normal, Champaign-Urbana, St. Louis, Indianapolis, and Chicago, making it an attractive location for residents and investors alike. The property's APN is 09-13-19-477-049. The asking price for this exceptional land opportunity is $230,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.