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

    15125 Penrose Ct, Unit 12 Orland Park, IL 60467

    Sponsored
    For Sale
    $299,000

    LAND - Orland Park, IL

    Lot size:
    0.35 Acres
    Days on Market:
    64
    Last Refresh:
    Feb 6 at 11:06 pm

    Property Features for 15125 Penrose Ct

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    SINGL
    APN
    27171100060000
    Lot size
    0.35 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Mike McCatty
    Mike McCatty

    Century 21 Pro-Team (708) 398-6400

    Listing agent Mike McCatty (708) 945-2121

    Listing date Dec 5, 2025

    MLS# 12509128 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.

    Learn more

    Overview

    Premium Lot in Orland Park

    This premium lot is located in the Waterford Pointe neighborhood at the corner of Wolf Road and 153rd Street in Orland Park, Illinois. The area features a lit stone monument, landscaping, and nature views. This cul-de-sac single-family lot with a lookout basement backs to open space. Sidewalks lead to an arbor and a community park. The property is located on Orland Park's west side, close to METRA, medical facilities, major roads, shopping, and dining. Nearby amenities include Centennial Park and Aquatic Center, the Grasslands walking path, Arctic Ice, a local music venue, Crystal Tree Golf Course, and the Sportsplex. The community is governed by covenants, restrictions, and an architectural review committee. The property has access to Lake Michigan water and is located within District 230 Schools. Minimum square-footage standards for ranch and two-story homes apply. Neighboring homes starting at $1.3 million. The lot size is 0.35 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.888023
    Latitude
    41.614761

    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
    • New
      $799,900
      4,000 SF

      Orland Park Commercial Investment Opportunity

      Two units: office/warehouse space plus pure warehouse space.
      15426-15428 S 70Th Ct, Orland Park, IL 60462
      View Details
    • New
      $459,900

      Orland Park Office/Warehouse Building

      Office/warehouse with deluxe executive suite and possible financing.
      15426 S 70Th Ct, Orland Park, IL 60462
      View Details
    • New
      $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
    • New
      $399,900
      4,000 SF

      Orland Park Industrial/Warehouse Space

      4000 sq ft warehouse near Harlem Ave and I-80.
      15428 S 70Th Ct, 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
    • $45,000

      Orland Park Restaurant Opportunity

      Turnkey restaurant in high-traffic area with favorable lease terms.
      9931 W 151St St, Orland Park, IL 60462
      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
    • $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

    FAQs

    What type of property is this?
    Residential land & home lot - Premium cul-de-sac lot in Orland Park's sought-after west side.
    Where is this residential land & home lot located?
    The property is located at 15125 Penrose Ct, Unit 12 Orland Park, IL.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Premium lot in an established, sought-after Orland Park location.; - Lookout basement backing to open space, offering privacy and nature views.; - Close proximity to METRA, medical facilities, major roads, shopping, and dining.
    (708) 945-2121
    Request Owner's contact information
    15125 Penrose Ct, Unit 12 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.
    15125 Penrose Ct, Unit 12
    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
    15125 Penrose Ct, Unit 12 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
    Mike McCatty
    Mike McCatty
    Real Estate License ID: 471002650
    (708) 945-2121
    Learn more
    Google sign-in failed. Please try again or use another login method.