Add Listing
    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

    114 W Prairie Avenue Wheaton, IL 60187

    View on Map
    Claim this Listing
    For Sale
    $419,900

    LAND - Wheaton, IL

    Lot size:
    0.24 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 18 at 8:06 pm

    Property Features for 114 W Prairie Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SINGL
    Standard status
    Active
    APN
    0509311011
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2713

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Lance Kammes
    Lance Kammes

    Listing agent Lance Kammes License #475090263

    Listing office RE/MAX Suburban 1417 N. Main Street, Mount Prospect, IL

    Listing date Mar 26, 2026

    MLS# 12602455 Listing URL

    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.

    Overview

    Residential Lot in North Wheaton

    This is an opportunity to build a custom home on an 80' x 132' lot in the North Wheaton neighborhood. The site is connected to city water and sewer. The property is located near schools, the Metra train, and downtown Wheaton, which offers shops, dining, and community events. Northside Pool & Park are also nearby. The property is located in District 200 Schools. The lot size is 0.24 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Wheaton
    County
    DuPage
    State
    Illinois
    Longitude
    -88.107518
    Latitude
    41.876292

    Nearby Similar for Sale

    • $399,500

      Well-Kept Office Space on Roosevelt

      Former dental office with high visibility and ample parking.
      1825 E Roosevelt Road, Wheaton, IL 60187
      View Details
    • $349,900

      Versatile Commercial Building in Wheaton

      Warehouse-style building with office space, loading dock, and ample parking.
      927 W Liberty Drive, Wheaton, IL 60187
      View Details
    • $799,000

      Remodeled Downtown Wheaton Mixed-Use Property

      Remodeled mixed-use property in downtown Wheaton with many potential uses.
      323 S Hale Street, Wheaton, IL 60187
      View Details
    • $799,000

      Remodeled Mixed-Use Wheaton Corner Lot

      Remodeled mixed-use property in downtown Wheaton with flexible layout.
      323 S Hale Street, Wheaton, IL 60187
      View Details
    • $825,000

      Wheaton Retail Opportunity

      Commercial property for sale in Wheaton, Illinois.
      117 W Wesley Street, Wheaton, IL 60187
      View Details
    • $850,000

      Wheaton Commercial Property For Sale

      Commercial property for sale in Wheaton, Illinois.
      121 W Wesley Street, Wheaton, IL 60187
      View Details
    • $325,000

      Wheaton Land with Development Potential

      Two lots totaling 17,580 sq ft near downtown Wheaton.
      N405 Gary Avenue, Wheaton, IL 60187
      View Details
    • $415,000

      Wheaton Land Near Prairie Path

      0.29-acre lot in South Wheaton backing to Illinois Prairie Path.
      1028 Lodalia Court, Wheaton, IL 60189
      View Details
    • $500,000

      Danada Farms East Land For Sale

      0.88 acre commercial lot in Wheaton, Illinois.
      311 East Loop Road, Wheaton, IL, 60189
      View Details
    • $350,000
      1,400 SF

      Wheaton Office Space For Sale

      Office property with 1400 square feet of space.
      620 Roosevelt Road, Wheaton, IL 60187
      View Details
    • $2,595,000
      14,630 SF

      Leased Retail Strip For Sale

      Fully leased retail strip with investment grade anchor tenant.
      820 E Roosevelt Rd, Wheaton, IL
      View Details
    • $350,000
      1,400 SF

      Office Space on Roosevelt Road

      Office space for sale with excellent exposure on Roosevelt Road.
      600 W Roosevelt Rd, Wheaton, IL
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Prime lot in desirable location near schools and downtown.
    Where is this residential land & home lot located?
    The property is located at 114 W Prairie Avenue Wheaton, IL.
    What is the asking price?
    The asking price for this property is $419,900.
    What are key features of this property?
    This property features: Prime 80' x 132' lot in highly desirable North Wheaton neighborhood.; **Walk‑to‑everything location**: steps from top‑rated schools, Metra, and downtown Wheaton.; Convenient access to Northside Pool & Park.
    (847) 577-9888
    We can help!
    Listing Contact
    Lance Kammes
    Lance Kammes
    Real Estate License ID: 475090263
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!