504 North Madison Street

Bloomington, IL 61701

$499,900
Price
23,482 / 0.54
Lot Size / Acres

Description

One of Downtown Bloomington's last vacant properties, this 200 x 120 foot parcel offers a unique opportunity for developers. D-2 zoning allows flexibility for apartments, condos, retail or mixed use. Further enhancing the possibilities, the city owns the 2 adjacent lots to the west, allowing for a public-private opportunity. Bloomington-Normal is a thriving community with a metro population over 170,000. The median household income is above $70,000 and top area employers include State Farm, Rivian...One of Downtown Bloomington's last vacant properties, this 200 x 120 foot parcel offers a unique opportunity for developers. D-2 zoning allows flexibility for apartments, condos, retail or mixed use. Further enhancing the possibilities, the city owns the 2 adjacent lots to the west, allowing for a public-private opportunity. Bloomington-Normal is a thriving community with a metro population over 170,000. The median household income is above $70,000 and top area employers include State Farm, Rivian and Country Financial, representing over 20,000 jobs alone. Commerce is also driven by two universities housing nearly 25,000 students. Resting right on IL-51, the property has great visibility with traffic counts around 12,000 vehicles per day, providing a perfect spot for first floor retail. Close proximity to downtown jobs makes this an ideal location for your modern office commuter. Recent downtown condo development prices have soared to $325,000 and quality 2 bedroom rentals are pushing $1,800. Downtown Bloomington is primed for the development of higher end housing with very little existing supply and an unmet demand. Students and Employees continue to seek a dynamic place to call home, and this could be it! The city is in the process of adding this parcel to a TIF district and other public options may be available to help bolster your return. Bring your ideas and your offers today and be a part of Bloomington's bright future!
  1. Listed by Christopher Pezza • Corcoran Urban Real Estate

Property Details for 504 North Madison Street

Area
Bloomington
Township
City of Bloomi
Ownership
Fee Simple
Num Of Parking Spaces
0.0
Zoning
PUD
LISTING UPDATED: 10/20/2024 12:44 PM

Property Details for 504 North Madison Street

StatusActive
MLS #11942683
Days on Market289
Taxes$2,654 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand
Year Built-
Lot Size0.54 AC
CountyMcLean County

Building Information for 504 North Madison Street

Lot Size0.54 AC

Property Information for 504 North Madison Street

General Information
School Information
  • Elementary School District: 87
  • High School District: 87
  • Middle Or Junior School District: 87
Location and General Information
  • Frontage Length: 199.8
  • Frontage Type: City Street
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Basement Bathrooms: No
  • Num of Baths: 0.0
Exterior Features
  • Backup Package: No
Utilities / Equipment
  • Utilities: Electric to Site, Gas to Site, Sanitary Sewer, Water-Community
Property/Lot Information
  • Lot Size: .50-.99 Acre
  • Lot Dimensions: 199X118
  • Approx Land Sq Footage: 23364
  • Buildings on Land: No
  • Waterfront: No
  • General Information: School Bus Service,Commuter Bus
Property and Assessments
  • Possible Use: Commercial, Condominium, Development, Multi-Family, Retail
  • Public Document Count: 0
  • Photos Count: 9
  • OpenHouse Count: 0
Miscellaneous
  • Land Description: Cleared
  • Road Surface: Asphalt, Concrete
  • Total Listed Lots Avail: 3
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No

Property History for 504 North Madison Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 504 North Madison Street

This home is within Bloomington School District 87.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
Sheridan Elementary School
PublicK to 5

Bloomington Jr High School
Public6 to 8

Bloomington High School
Public9 to 12

Holy Trinity Catholic School
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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504 North Madison Street is a 0.54 ac of land for sale in Bloomington, IL 61701. This property was listed for sale on February 6, 2024 by Corcoran Urban Real Estate, it's currently listed at $499,900. This listing's school district is Bloomington School District 87. Nearby schools include Sheridan Elementary School, Bloomington Jr High School and Bloomington High School. 504 North Madison Street is a 0-bed, 0-bath, 0.54 ac of land on a 23,482 sq. ft. / 0.54 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Corcoran Urban Real Estate

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 10/20/2024 12:44 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.