Lancaster

Vacant Land for Sale
Catylist Listing ID: 30347974
Property Subtypes: Hospitality, Office, Retail, Retail-Pad
Gross Land Area: 3.14 Acres
Sale Price: $574,900
Unit Price: $183,089 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/5/2018

Overview / Comments

3.14 Acres of Elevated Acreage in a premier location in the Village of Cherry Valley. Property is comprised of (5) individual Parcels making up over 3 acres. Currently a duplex on the lot providing rental income, however the duplex can be raised or removed. Land has well/septic, however the Village is indicating Water and Sewer connection in 2019. Close to Cherry Vale Mall, brand new retail development coming soon! IDOT is proposing Multi-Million-dollar clover leaf renovations in the future. Extremely high traffic count and location absolutely perfect for a Hotel/Motel. Currently zoned R3 however the village will be open to rezoning when water and sewer is in the area.

Additional Details

Nearest MSA: Rockford
County: Winnebago
Taxing Authority: Winnebago
Tax ID/APN: 1235403025, 12-35-403-011, 12-35-452-001, 12-35-452-002, 12-35-452-003
Property Visibility: Excellent
Legal Description: IRR TR BEGN ON ELY LN LOT 11 BLK 4 CHERRY CREST additional to follow
Topography: Level

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,395 36,382 107,591
Median Age: 46.7 42.18 41.38
Households: 1,425 15,189 43,824

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