Residential Land with Home for Sale in Bloomington, Indiana

Rare chance to secure nearly 8 acres on Bloomington's highly sought-after south side -- just minutes from downtown, Indiana University, and with fast access to I-69 for easy commutes to Crane and Indianapolis. Few properties offer this combination of location, scale, and future flexibility inside a major growth corridor. Positioned at the city-county line with city sewer on site, this property is uniquely suited for multiple long-term paths: a private estate, multi-generational living, or a thoughtfully planned small neighborhood. The acreage includes two parcels, including a separate one-acre lot with utilities in place -- providing immediate versatility for phased development, resale, or multiple residences. The land itself is gently rolling with excellent frontage, privacy, and layout potential -- ideal for creating multiple homesites while preserving green space and curb appeal. Whether your vision is a family compound, a future multi-lot layout, or a strategic land investment, this property offers the rare ability to own now and shape later. An existing single-family residence, built with the craftsmanship of its era, offers immediate rental or owner-occupancy while long-term plans take shape. With preserved woodwork, a spacious kitchen, and a welcoming layout, it delivers both comfort and income today -- and flexibility for tomorrow. The property is currently in the early stages of a planned separation process, with predesign approval underway. This step is being pursued to allow for future flexibility in how the acreage and the residential structure are configured and valued, creating the potential for more targeted ownership or pricing options as the process moves forward. Opportunities like this -- large acreage with utilities, proximity to Bloomington's core, and active planning already in motion -- are increasingly rare. Secure the land today and position yourself for tomorrow's possibilities.