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Listed by Blake Pryor • Coldwell Banker Commercial Dev
$299,000
Est. payment /mo
1.1 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CA1044451
Annual Tax Amount $14,434
Tax Year 2025
Lot Size 1.100 Acres
Acres 1.1
Property Sub-Type Commercial
Source rmlsa
Property Description
1.10 +/- acre redevelopment opportunity in the Mid-Illinois Medical District, just north of Downtown Springfield. Currently improved as a surface parking lot, but could be a mixed-use development, medical use, or some other higher purpose. Located within the Adirondack TIF District, an Opportunity Zone, and a Cannabis Grants Area. The site has 320' frontage on Madison St. (11,000 AADT) with additional access from N. 5th St. (5,400 AADT). The site is positioned to benefit from the Downtown Springfield & Mid-Illinois Medical District Master Plan, the Springfield Rail Improvements Project, the proposed Medical District expansion, the planned Third Street Greenway (The LINC), and the new SMTD Transportation Hub.
Location
State IL
County Sangamon
Area Springfield
Zoning S-3
Direction 2 parcels on the north side of E. Madison St between N. 4th St & N. 5th St.
Interior
Fireplace N
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
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Garage 1
Building
Lot Description Utilities, Level
Faces 2 parcels on the north side of E. Madison St between N. 4th St & N. 5th St.
Sewer Public Sewer
Water Municipal/City, City Water/Connected
Others
Tax ID 14-27.0-352-017
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