Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11200 183Rd St Orland Park, IL 60467

    Sponsored
    For Sale
    $500,000

    LAND - Orland Park, IL

    Lot size:
    1.64 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 27 at 1:06 am

    Property Features for 11200 183Rd St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1909062020010000
    Lot size
    1.64 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Jonathan Darin

    Honig Realty, Inc. (dba. Coldwell Banker Honig-Bell) (815) 553-2411

    Listing agent Jonathan Darin (708) 301-4700

    Listing date Jan 26, 2026

    MLS# 12550413

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Corner Parcel in Orland

    This 1.64-acre corner parcel is located at the intersection of 183rd Street and Wolf Road in Orland Park, Will County. The site features approximately 245 feet of frontage along Wolf Road, offering convenient right-in/out access. The property is suitable for a restaurant, and also supports various other potential uses, including medical or professional offices, clinics, retail, convenience stores, and educational facilities, subject to approvals. All major utilities—water, sewer, gas, and electric—are available to the site. Strong traffic counts along Wolf Road and 183rd Street provide excellent exposure, serving daily commuters and local residents from Orland Park and Mokena, as well as traffic passing through surrounding communities. This commercial location offers outstanding visibility and long-term potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.890956
    Latitude
    41.556676

    Nearby Similar for Sale

    • $400,000
      0.29 Acres

      Orland Park Commercial Property

      2600 sq ft commercial property on busy 159th Street.
      7620 W 159Th St, Orland Park, IL 60462
      View Details
    • $649,000
      0.85 Acres

      Orland Park Car Wash Opportunity

      Self-service car wash with redevelopment potential in Orland Park.
      7225 W 151St St, Orland Park, IL 60462
      View Details
    • $399,900

      Orland Park Restaurant Business Opportunity

      Fully operating restaurant with banquet space and outdoor seating available.
      8817 143Rd St, Orland Park, IL 60462
      View Details
    • $125,000
      0.03 Acres

      Orland Park Retail Opportunity

      Successful dog grooming business for sale in Orland Park.
      9999 Main St, Orland Park, IL 60467
      View Details
    • $995,000
      Pending

      Established Auto Mechanic Business For Sale

      Full-service auto mechanic business and real estate in Orland Park.
      999 Main St, Orland Park, IL 60462
      View Details
    • $379,000
      1,552 SF

      Updated Townhouse in Long Run Creek

      Updated ranch-style townhouse with modern amenities and convenient location.
      11849 Somerset Rd, Orland Park, IL 60467
      View Details
    • $425,000
      1,836 SF

      Premium End-Unit Ranch Home

      Immaculate ranch in Marley Creek, lives like single-family home.
      11656 Lake Shore Dr, Orland Park, IL 60467
      View Details
    • $4,000,000
      18,466 SF

      Orland Park Office Investment Opportunity

      Office building in Chicago MSA, fully guaranteed by U.S. Government.
      14479 John Humphrey Dr, Orland Park, IL 60462
      View Details
    • $339,000

      Penthouse Duplex with Heated Garage

      Spacious penthouse duplex with modern amenities and convenient location.
      7805 W 157Th St, Orland Park, IL 60462
      View Details
    • $4,880,333
      4,330 SF

      Chase Bank Ground Lease Opportunity

      NNN ground lease with escalations in high-traffic Orland Park.
      13211 La Grange Rd, Orland Park, IL 60462
      View Details
    • $1,150,000
      2,275 SF

      Orland Park Retail Center For Sale

      Retail center in highly visible Orland Park location.
      9931-9951 W 151St St, Orland Park, IL 60462
      View Details
    • $249,900

      Spacious End-Unit Home with Updates

      Updated end-unit home with potential in Orland Park, IL.
      15349 Catalina Dr, Orland Park, IL 60462
      View Details

    FAQs

    What type of property is this?
    Commercial land - Highly visible 1.64-acre corner parcel ideal for restaurant use.
    Where is this commercial land located?
    The property is located at 11200 183Rd St Orland Park, IL.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Highly visible 1.64-acre corner parcel at the intersection of 183rd Street and Wolf Road.; - Ideal for restaurant use and supports a variety of other potential uses such as medical or retail.; - Approximately 245 feet of frontage along Wolf Road with convenient right-in/out access.
    (708) 301-4700
    Request Owner's contact information
    11200 183Rd St Orland Park, IL 60467
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11200 183Rd St
    Orland Park, IL 60467
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    11200 183Rd St Orland Park, IL 60467
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jonathan Darin
    (708) 301-4700
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.