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3311 Ireland Grove rd - Ireland Grove Road Farm
122.38 Acres of Agricultural Land Offered at $6,450,140 CAD in Bloomington, IL 61704
Investment Highlights
- Corridor traffic into Bloomington's southeast side. Ireland Grove Road leads to State Farm Corp. South complex & IL Regional Bldg.
- Near residential subdivisions to north and west. Cell Tower in southeast corner provides additional income.
- Open somewhat level farmland should be easy to convert to a different use if desired.
- 1 mile west of new substation being built by Ameren for 345KV line being installed across MISO. Large line dissecting property leads there.
- Highly productive farmland provides rental income and keeps real estate taxes low until development.
- Rail line runs along south side.
Executive Summary
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per AC (CAD) |
|---|---|---|
| Gross Rental Income |
$65,062
|
$531.64
|
| Other Income |
$5,953
|
$48.65
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$71,015
|
$580.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$8,947
|
$73.11
|
| Net Operating Income |
$62,068
|
$507.18
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $65,062 |
| Annual Per AC | $531.64 |
| Other Income (CAD) | |
|---|---|
| Annual | $5,953 |
| Annual Per AC | $48.65 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $71,015 |
| Annual Per AC | $580.28 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $8,947 |
| Annual Per AC | $73.11 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $62,068 |
| Annual Per AC | $507.18 |
Property Facts
| Price | $6,450,140 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Agricultural |
| No. Lots | 1 | Total Lot Size | 122.38 AC |
| Price | $6,450,140 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Agricultural |
| Total Lot Size | 122.38 AC |
1 Lot Available
Lot
| Price | $6,450,140 CAD | Lot Size | 122.38 AC |
| Price Per AC | $52,706 CAD |
| Price | $6,450,140 CAD |
| Price Per AC | $52,706 CAD |
| Lot Size | 122.38 AC |
This McLean County farm in the path of progress rests adjacent to Bloomington’s southeast city limits. It was labeled as an emerging neighborhood area in the City of Bloomington 2015-2035 Comprehensive Plan.
Description
This McLean County farm in the path of progress rests adjacent to Bloomington’s southeast city limits. It was labeled as an emerging neighborhood area in the City of Bloomington 2015-2035 Comprehensive Plan. There is road access from Ireland Grove Road, Abraham Road, and Hamilton Road. There is rail access from the Norfolk Southern Railroad along the south edge of the property. The farm possesses a cell tower lease providing an additional income stream. It is currently zoned agricultural and leased on an annual cash rent lease to preserve lower real estate tax assessments. The farm lease expires at the end of the current growing crop harvest. Seller will retain all 2024 agricultural rent income for 2024. Contact David Klein at 309-261-3117 or Craig Thompson at 309-275-6741 or crthompson@firstmid.com for additional information.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD (2022) | |
| Land Assessment | $106,902 CAD (2022) | Total Assessment | $106,902 CAD (2022) |
PROPERTY TAXES
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3311 Ireland Grove rd - Ireland Grove Road Farm
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