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    Property profile & analytics

    701 Cummings Ln Washington, IL 61571

    • Commercial land
    • 1.44 lot acres
    For Sale
    View listing
    $225,000
    Value Estimation
    Last Sale
    Apr 07, 2022
    $175,000
    Location Intelligence
    Property ID
    US28-0600706
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 701 Cummings Ln

    Lot size
    1.44 lot acres
    Property type
    Commercial land
    APN
    02-02-15-302-001
    APU
    20215302001

    Description

    This exceptional 1.45-acre commercial lot presents a remarkable opportunity for developers and investors. Located at 701 N Cummings Lane in Washington, Illinois, this property boasts a highly desirable location, situated between the thriving Barry Business Center – home to established businesses such as Blue Margarita, Shear Creations, and StarCrest – and a picturesque pond. The strategic positioning ensures excellent visibility and accessibility for any commercial venture. The lot's size offers ample space for the construction of a strip mall, restaurant, or other commercial buildings, catering to a diverse range of business needs. The presence of a nearby hotel further enhances the property's appeal, providing a convenient amenity for potential customers and employees. This prime location offers significant potential for growth and return on investment, making it an ideal opportunity for those seeking to establish a successful commercial enterprise in a vibrant and growing community. The property is offered at $225,000 and is ready for immediate development. Utilities are available, and zoning information can be provided upon request. Don't miss this chance to secure a highly visible and strategically located commercial lot in a thriving area.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.445
    Latitude
    40.7123
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,911
    $65,860
    $0.00
    $65,860
    -
    $197,580
    $0.00
    $197,580

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    701 Cummings Ln
    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
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