In a real estate market where location, land size, and flexibility define long-term value, this exceptional 1.14-acre property in East Bloomington stands out as a rare and powerful investment opportunity. Whether you are an experienced developer, a business owner looking for a strategic location, or a homeowner with a vision for a custom estate, this property offers the perfect foundation to build something truly valuable.
With a large parcel of land, strong visibility, and the potential for rezoning to mixed use, this property delivers a unique combination of residential comfort and commercial opportunity. Properties like this are increasingly difficult to find, especially in growing areas where expansion and development are already underway.
A True Blank Canvas for Investors and Developers
One of the most compelling aspects of this property is its flexibility. Unlike many listings that come with limitations, this property offers a blank canvas where the possibilities are nearly endless.
You have the option to:
- Build a multi-unit residential development
- Create a restaurant or commercial business
- Develop a senior living facility
- Design a mixed-use property (pending rezoning approval)
- Transform the existing structure into a luxury custom home
This level of versatility makes the property attractive to a wide range of buyers. Whether your goal is immediate income, long-term appreciation, or business expansion, this property can support your strategy.
Strong Location with High Visibility
Location plays a critical role in real estate success, and this property benefits from a highly desirable position in East Bloomington. Situated along Ireland Grove Road, it offers excellent visibility and easy access to nearby amenities.
Key location advantages include:
- High traffic exposure for commercial use
- Close proximity to shopping, dining, and services
- Placement within a well-regarded school district
- Easy access to main roads and transportation routes
This combination of accessibility and visibility makes the property ideal for both residential and business purposes.
Expansive 1.14-Acre Lot
Large parcels of land in established areas are becoming increasingly rare. With 1.14 acres, this property provides the space needed for ambitious projects.
The lot offers:
- Room for new construction or expansion
- Potential for subdivision (pending approval)
- Space for parking, landscaping, or additional structures
- Flexibility for creative development designs
With approximate dimensions of 250 by 198 feet, the property allows for efficient planning and layout design.
Existing Structure with Over 3,500 Square Feet
The property includes a spacious ranch-style home built in 1992, featuring over 3,500 square feet of interior living space. While the home is ready for updates, it provides a solid foundation for renovation or redevelopment.
Interior highlights include:
- Four large bedrooms
- Two full bathrooms and two half bathrooms
- Open-concept living areas
- Large kitchen and dining space
- Expansive bonus room
This structure can be reimagined into a modern luxury home or repurposed for other uses depending on your vision.
Open Living Spaces with Unique Features
One of the standout features of the home is the double-sided fireplace that connects the living room and family room. This architectural element adds both character and functionality, serving as a focal point for the main living areas.
The open layout allows for:
- Better natural light distribution
- Improved flow between rooms
- Modern design possibilities
For buyers interested in renovation, this layout offers significant potential for creating a high-end interior.
Generous Room Sizes
The home features large, well-proportioned rooms that provide flexibility for different uses.
Notable spaces include:
- Living room: approximately 494 square feet
- Bonus room: approximately 575 square feet
- Kitchen: over 250 square feet
- Family room: over 200 square feet
These generous dimensions make it easier to redesign the space according to modern preferences.
Infrastructure and Utilities
The property is equipped with essential systems, including:
- Propane heating
- Central air conditioning
- Septic system
- Private well water
While some buyers may choose to upgrade these systems, they provide a functional starting point for immediate use.
Development Plans Already in Progress
A major advantage of this property is that annexation and subdivision plans have already been submitted to the City of Bloomington and are currently awaiting approval.
This means:
- Less administrative work for the buyer
- Faster development timeline
- Greater clarity on future use options
The sale is contingent upon approval, which aligns the purchase with future development readiness.
Competitive Pricing and Investment Value
At approximately $28 per square foot, this property is priced significantly below many comparable opportunities. This creates strong potential for value growth.
Key financial details:
- Price per square foot: $28
- Tax assessed value: $346,476
- Annual taxes: $8,739
This pricing structure makes it attractive for investors looking to maximize return on investment.
Potential Investment Scenarios
This property can support multiple investment strategies.
For example:
A multi-unit development could generate steady rental income, while a commercial project could benefit from strong visibility and customer access. Alternatively, a full renovation could transform the property into a high-value custom home.
Each of these options offers the potential for long-term financial gain.
Ideal for Multiple Buyer Types
This property appeals to a wide range of buyers.
Investors can take advantage of the low price per square foot and development potential. Developers will appreciate the large lot and flexible zoning possibilities. Business owners can benefit from the location and visibility. Homeowners with vision can create a unique custom residence.
Long-Term Growth Potential
East Bloomington continues to grow, making this an ideal time to invest. As development expands and demand increases, properties like this are expected to become even more valuable.
Factors supporting future growth include:
- Increasing population
- Expanding commercial activity
- Limited availability of large parcels
- Rising property values
This makes the property a strong candidate for long-term appreciation.
Customization Opportunities
Because the interior is ready for updates, buyers have full control over design and functionality.
You can:
- Modernize the layout
- Upgrade finishes and materials
- Add smart home features
- Enhance outdoor spaces
This flexibility allows you to tailor the property to current market trends or personal preferences.
Why This Property Stands Out
In today’s market, it is rare to find a property that combines:
- Large acreage
- Prime location
- Flexible use potential
- Existing structure
- Competitive pricing
This combination makes it a standout opportunity for serious buyers.
Final Thoughts
This 1.14-acre property in East Bloomington represents more than just a piece of real estate. It is an opportunity to create, build, and invest in something meaningful.
Whether your goal is development, business expansion, or building a custom home, this property provides the foundation to achieve it. With strong location advantages, significant space, and future growth potential, it offers both immediate possibilities and long-term value.
If you are looking for a property that allows you to think big and act strategically, this is an opportunity worth exploring.
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