1715 Tin Cup RdMahomet, IL 61853

Property Details for 1715 Tin Cup Rd

Property size (Sq ft)

3,414 SF

Property type

Warehouses

APN

151314282001

APU

151314282001

Description

This exceptional 7-acre property, located at 1715 Tin Cup Rd, Mahomet, IL 61853 (APN 151314276005), presents a rare development opportunity. Approved in August 2022, this fee-simple land is zoned for residential use and offers 22 detached single-family home lots. Ten lots measure 80 feet, and twelve measure 65 feet, providing a mix of options for potential buyers. The subdivision is situated adjacent to the Fox Run neighborhood, known for its high price per square foot due to low density. The property boasts convenient access to public water and sewer infrastructure, minimizing development costs. Its location near Lake of the Woods in Mahomet, a city with a high median household income in Champaign County, makes it highly attractive. The owner is open to long-term partnerships with developers, given the availability of additional adjacent acreage and diverse zoning that includes commercial (C1 and C2) designations. This allows for exploration of the highest and best use to meet market demand and absorption rates. The development plan emphasizes low density to maintain high property values, ensuring the privacy of single-family living and preserving the natural green space buffers. The property offers a family-friendly environment with easy access to I-74, excellent schools, recreational facilities, and the amenities of downtown Mahomet. This prime location provides a convenient commute to neighboring towns and cities, making it an ideal opportunity for building custom homes. Asking price is $475,000.

• Alternative Use

  Use

  Valuation

  Residential

  $1,255,829

  Hospitality

  $1,150,332

  Educational

  $957,063

  Medical

  $989,978

  Retail

  $1,488,765

Location Insight

City

Mahomet

County

Champaign

State

Illinois

Latitude

40.1948

Longitude

-88.3758

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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