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    Jeff Bennett, Bourbonnais, IL

    License ID: 475123463
    McColly Bennett Real Estate
    Association
    Illinois Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (815) 922-6505
    Office Address:
    29 Heritage Dr, Bourbonnais, IL, 60914

    Performance

    Listings
    19

    Listings

    For Sale (9)

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    • $3,000,000
      1.26 Acres

      Bradley Commercial Land - Prime Retail Site

      High-traffic retail land, near I-57.
      0 Crnr Kinzie Ave. & St. George Rd, Bradley, IL 60915
      View Details
    • $150,000

      Land Available For Sale

      Land available for sale at 105 Mooney Dr, Bourbonnais, IL.
      105 Mooney Dr, Bourbonnais, IL 60914
      View Details
    • $1,100,000

      Bourbonnais Land Opportunity

      Land available in Bourbonnais, Illinois.
      6210 N 1000 Rd E, Bourbonnais, IL
      View Details
    • $150,000

      Land For Sale Bourbonnais

      Land available for sale in Bourbonnais, Illinois.
      319 Gettysburg Dr, Bourbonnais, IL 60914
      View Details
    • $100,000

      Land For Sale Bourbonnais

      Land available for sale in Bourbonnais, Illinois.
      Heritage Dr, Bourbonnais, IL 60914
      View Details
    • $1,400,000

      Land For Sale Bradley, IL

      Land available for purchase in Bradley, Illinois.
      730 N Bradley Blvd, Bradley, IL
      View Details
    • $750,000

      Land For Sale Bourbonnais, IL

      Land available for sale in Bourbonnais, Illinois.
      1000 N Rd E, Bourbonnais, IL
      View Details
    • $150,000

      Prime Corner Commercial Land Parcel

      1.31 acre corner lot with high traffic volume.
      3570 E Sauk Trl, Sauk Village, IL 60411
      View Details
    • $258,900

      Updated Brick Building For Sale

      Updated brick building with private offices and ample parking.
      103 W 3Rd St, Aroma Park, IL 60910
      View Details

    For Lease (10)

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    • Contact for pricing
      11,803 SF

      Kankakee Office Space Available

      Office space available for rent in Kankakee, Illinois.
      450 N Kennedy Dr, Kankakee, IL 60901
      View Details
    • $8 SF/Yr
      4,950 SF

      Kankakee Office and Medical Space

      Office and medical space available in Kankakee, Illinois.
      70 Meadowview Ctr, Kankakee, IL 60901
      View Details
    • Contact for pricing
      13,108 SF

      Kankakee Flex Space Available

      Flex space with dedicated office and industrial capabilities for rent.
      1405 Stanford Dr, Kankakee, IL 60901
      View Details
    • Contact for pricing
      15,000 SF

      Kankakee Warehouse Space Available

      15,000 square foot warehouse space for lease in Kankakee.
      711 W Seneca St, Kankakee, IL 60901
      View Details
    • $22 SF/Yr
      20,000 SF

      Bourbonnais Office Space Available

      20,000 SF office space ideal for medical or professional offices.
      581 William R Latham Sr Dr, Bourbonnais, IL 60914
      View Details
    • Contact for pricing
      4,728 SF

      Mokena Office Space Available

      Office space for lease in Mokena, Illinois.
      19201 La Grange Rd, Mokena, IL 60448
      View Details
    • Contact for pricing
      4,000 SF

      Bourbonnais Retail Space Available

      4,000 SF retail space for lease in Bourbonnais, Illinois.
      2082 N State Route 50, Bourbonnais, IL 60914
      View Details
    • $14 SF/Yr
      1,849 SF

      Kankakee Office Space Available

      Office space available for rent in Kankakee, Illinois.
      245 S 6Th Ave, Kankakee, IL 60901
      View Details
    • $12 SF/Yr
      6,500 SF

      Remodeled Restaurant on Busy Highway

      Remodeled restaurant with equipment on busy highway for lease.
      580 N Kinzie Ave, Bradley, IL 60915
      View Details
    • Contact for pricing
      8,160 SF

      Bourbonnais Office Space Available

      Office space available for rent in Bourbonnais, Illinois.
      761 Main St NW, Bourbonnais, IL 60914
      View Details

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    Jeff Bennett, Bourbonnais, IL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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