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!
Property Details
Property Features
Listing Office:
Office Name: Corcoran Urban Real Estate
Office Phone: (312) 528-9200
Listing Agent: Christopher Pezza
Other
Directions Information:
Directions: s on madison to property
Price Information
Listing Price Info
Price Summary:
List Price: $499,900
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Housing Market Comparison
See how this home compares to others in Bloomington, IL.
This property is $246.5K more than the Median Sold Price in Bloomington, IL.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: MRED
MLS Number: #11942683
Listing Office:
Office Name: Corcoran Urban Real Estate
Office Phone: (312) 528-9200
Listing Agent: Christopher Pezza
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Irving Elementary School
602 W Jackson St
Distance between this listing and this school0.26 miles
Public District Grades KG-5
2
/10
Bent Elementary School
904 N Roosevelt Ave
Distance between this listing and this school0.92 miles
Public District Grades KG-5
8
/10
Washington Elementary School
1201 E Washington St
Distance between this listing and this school1.14 miles
Public District Grades KG-5
Nearby Schools
2
/10
Bloomington Junior High School
901 Colton Ave
Distance between this listing and this school1.35 miles
Public District Grades 6-8
3
/10
Kingsley Junior High School
303 Kingsley St
Distance between this listing and this school2.35 miles
Public District Grades 6-8
8
/10
Thomas Metcalf School
PO Box 7000
Distance between this listing and this school2.45 miles
Public District Grades PK-8
Nearby Schools
3
/10
Bloomington High School
1202 E Locust St
Distance between this listing and this school1.44 miles
Public District Grades 9-12
1
/10
Ybmc Charter School
360 Wylie Dr Ste 305
Distance between this listing and this school2.58 miles
Public Charter Grades 11-12
10
/10
University High School
PO Box 5300
Distance between this listing and this school2.88 miles
The neighbors living near this home have an average income of $23,580. The most common annual income of people living in Bloomington, IL is less than $35k. Residents typically live in single, no kids family. Residents of this area typically have high school diploma education.
All data provided by Home Junction and Claritas
Living In Bloomington, IL
Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.
Types of housing in Bloomington, IL.
Bloomington's housing market is diverse, offering a range of options from historic homes to contemporary apartments. Single-family homes are prevalent, with a mix of Victorian, ranch, and colonial styles commonly found. The housing stock also includes a selection of condominiums and townhouses, accommodating various preferences and lifestyles. The homeownership rate in Bloomington is robust, with a significant majority of residents owning their homes, while a smaller yet substantial segment of the population opts for renting.
What is it like to live in Bloomington, IL?
Bloomington prides itself on a vibrant community spirit and a rich historical backdrop. The city's character is defined by its blend of urban amenities and small-town charm, with a variety of local events and festivals that celebrate its cultural heritage. Residents and visitors alike enjoy the community's green spaces, local arts scene, and the sense of connectivity that pervades neighborhood gatherings and public celebrations.
Is it easy to get around Bloomington, IL without a car?
The city is served by a comprehensive array of services, including a network of public schools that cater to students from kindergarten through high school, as well as private educational options. Healthcare is readily accessible, with several clinics and a hospital that provides emergency services, primary care, and specialized treatments. Bloomington also features a public library system that supports lifelong learning and community engagement. Retail and dining establishments reflect the local culture, offering both familiar chains and unique local businesses that contribute to the city's distinct flavor.
Transportation in Bloomington, IL.
Transportation in Bloomington includes a variety of options for residents and visitors. The city's public transit system facilitates movement around the area, with bus routes connecting key destinations. While specific schedules vary, services are designed to accommodate peak commuting times. The community also supports ride-sharing options, enhancing mobility for those without private vehicles. Bloomington is characterized by areas that are pedestrian-friendly, particularly in the downtown district, and there are initiatives to improve bikeability. The city's road network provides efficient access to major highways, simplifying travel to and from the city.
Frequently Asked Questions About 504 N Madison St
What is the listing price of this property?
The listing price of 504 N Madison St property is $499,900.
What type of property is this?
The property 504 N Madison St is land located in Bloomington, Illinois, 61701.
Is this property for sale now?
Active Listing: 504 N Madison St is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 504 N Madison St in Bloomington, IL and zip code 61701. It has been listed on Rocket Homes since February 06, 2024 and is currently priced at $499,900.
In October 2024, from all listings sold in Bloomington, IL there were more than 40 sold above asking price, over 49 sold below and more than 17 were sold right at the asked price. The inventory of homes for sale in Bloomington, IL between September 2024 and October 2024 decreased by 4.5%. The median list price of listings available in October 2024 was $253,316, while the average time on the real estate market was 23 days.
From Rocket Homes Real Estate and based on county public records data.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
Copyright © 2024 Midwest Real Estate Data LLC (MRED). All rights reserved. 
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