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    FOR SALE
    Flex space

    300 N Cummings Ln, Washington, IL 61571

    50,840 SF 9.67 ac lot Built 1996
    Entity Owned 3-yr Hold ~ Est. High Equity
    Property ID
    US28-2176038
    300 N Cummings Ln, Washington, IL 61571 For Sale
    $1,000,000 50,840 SF
    300 N Cummings Ln, Washington, IL 61571
    View Listing →
    Property summary
    AI-generated overview

    This exceptional 9.67-acre vacant parcel presents a unique investment opportunity in Washington, Illinois. Boasting highly desirable I-1 industrial zoning, this flat, buildable land is ideally situated for immediate development. Its prime location at the planned intersection of the Freedom Parkway extension (currently ending near Walmart and Menards, with future extension to Cummings Lane) offers unparalleled access and visibility. The property is surrounded by a thriving mix of industrial businesses, retail establishments, medical facilities, and hotels, ensuring a strong and diverse surrounding community. This presents a rare chance to capitalize on the growth potential of this strategically located site. The property's flat terrain simplifies construction, minimizing site preparation costs and accelerating project timelines. The existing infrastructure and proximity to established businesses make this an attractive proposition for a wide range of commercial and industrial ventures. This is a truly exceptional opportunity to acquire a significant land holding in a rapidly developing area. The I-1 zoning allows for a variety of uses, providing flexibility for future development plans. Don't miss this chance to secure a prime piece of real estate in a high-growth sector of Washington, IL. The asking price is $1,000,000.

    Property profile
    Verified
    Property type Flex space
    Use group LIGHT INDUSTRIAL
    Year built 1996
    Total area 50,840 SF
    Lot 9.67 ac (421,225 SF)
    APN 02-02-16-400-024
    UPID US28-2176038
    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
    $2.62M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $3.38M
    Owner & transaction history
    Ivp Properties LLC · 3 yrs held
    Ivp Properties LLC
    since 2023
    Last sale
    $3.4M
    6 recorded transactions
    2023
    $3.4M
    2020
    2019
    2019
    2015
    $3.0M
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $4.5M +278.4%
    Restaurant $4.4M +272.6%
    Apartment house (5+ units) $3.8M +221.4%
    Try Rey
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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