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Property profile & analytics
FOR SALE
Commercial land
2601 N Farmers Market Rd Springfield, IL 62702
Entity Owned
Absentee Owner
Free & Clear
Property ID
US28-3074908
For Sale
$414,810
2601 N Farmers Market Rd, Springfield, IL 62702
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Property summary
AI-generated overview
This 4.19-acre lot, located at 2601 Farmers Market Rd, Springfield, IL 62707 (APN 15180102009), is zoned I-1 and presents a prime development opportunity. Situated on the frontage road of Farmers Market Road and Atlanta Street, it boasts excellent visibility from I-55, with approximately 27,300 vehicles passing daily. The property's strategic location near Northfield Plaza and S. Dirksen Parkway, areas with significant retail, medical, and restaurant activity (approx. 26,300 vehicles daily), ensures high traffic volume and potential for strong returns. This parcel offers exceptional access and exposure, making it ideal for various commercial or industrial uses. The asking price is $414,810. This is a single lot from a larger group of parcels, each available for sale individually or as a package. Further details on the entire acreage and individual lot pricing are available upon request.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
4.19 ac (182,516 SF)
APN
15-18.0-102-009
UPID
US28-3074908
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
SJL CHURCH PROPERTIES LLC
SJL CHURCH PROPERTIES LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$93
Tax year 2023
Assessed value
$1,298
Assessed 2023
Previous assessed
$1,231
+5.4% YoY
Effective rate
7.16%
On assessed value
Assessed land
$1,298
Land market value
$3,894
Total market value
$3,894
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Sale
Heating
NONE
Lot
4.19 ac (182,516 SF)
APN
15-18.0-102-009
UPID
US28-3074908
Jurisdiction
SANGAMON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
4.19 ac
Current owner
From public records · entity-resolved
SJL CHURCH PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1225 N MAIN ST, CHATHAM, IL 62629-8133
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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