Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1577 N DILLEYS Road Gurnee, IL 60031

    View on Map
    For Sale
    $192,500

    LAND - Gurnee, IL

    Lot size:
    1.00 Acre
    Added:
    Mar 23, 2026
    Days on Market:
    9
    Last Refresh:
    Mar 31 at 1:06 pm

    Property Features for 1577 N DILLEYS Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    07151000090000
    Lot size
    1.00 Acre

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    5343

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Steven Scalzo

    Listing agent Steven Scalzo License #475102482

    Listing office Netgar Investments Inc 205 N Greenbay Rd, Gurnee, IL

    Listing date Mar 23, 2026

    MLS# 12598300

    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

    Gurnee, IL Land For Sale

    This property features almost 1 acre of land zoned O-1 Restricted Office District. The O-1 zoning is intended for areas of small-scale office buildings, ranging from single-story to multi-story structures. The district may also contain structures suitable for office conversion. The property is located in Gurnee, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.940122
    Latitude
    42.382951

    Nearby Similar for Sale

    • $279,000

      Gurnee Medical Office For Sale

      Professional medical office center near major roads and interstates.
      731 S Il Route 21 unit: 145, Gurnee, IL 60031
      View Details
    • $3,150,000

      Gurnee Commercial Property For Sale

      Commercial property available for sale in Gurnee, Illinois.
      6475 Washington Street, Gurnee, IL 60031
      View Details
    • $998,000
      4,180 SF

      High-End Freestanding Office Building

      Class A office building in Gurnee, Illinois for sale.
      1125 N Delany Road, Gurnee, IL 60031
      View Details
    • $165,000

      Gurnee Vacant Land Opportunity

      0.93-acre vacant land near Gurnee Mills and Six Flags.
      16655 W Applewood Court, Gurnee, IL 60031
      View Details
    • $1,890,000

      Gurnee Commercial Space For Sale

      Prime commercial space in Delaware Commons with high visibility.
      34491 N Old Walnut Circle, Gurnee, IL 60031
      View Details
    • $299,900

      Updated Office Space in Gurnee

      Updated office space with handicap access and storage basement.
      4017 Old Grand Avenue, Gurnee, IL 60031
      View Details
    • $1,025,000

      Commercial Property in Unincorporated Gurnee

      Versatile commercial property in Gurnee with flexible zoning.
      34498 N Old Walnut Circle, Gurnee, IL 60031
      View Details
    • $875,000

      Gurnee Land Development Opportunity

      Approved 10-lot subdivision, ideal for builders/developers in Gurnee, IL.
      1999 N Fuller Road, Gurnee, IL 60031
      View Details
    • $3,999

      Gurnee, IL Land Parcel

      High visibility land parcel adjacent to I-94 in Gurnee.
      15010 W Belvidere Road, Gurnee, IL 60031
      View Details
    • $967,000
      5,547 SF

      Gurnee Industrial Flex Space Available

      5,547 SF flex space in Gurnee, Illinois for sale.
      1680 N Delany Rd, Gurnee, IL
      View Details
    • $599,999

      Commercial Lots on Washington Street

      Commercial lots suitable for single or multi-tenant property.
      6091 Washington Street lot: 4, Gurnee, IL 60031
      View Details
    • $55,000

      Ready-to-Build Land in Gurnee

      Land for sale in Gurnee School District, ideal for building.
      963 Belle Plaine Avenue, Gurnee, IL 60031
      View Details

    FAQs

    What type of property is this?
    Commercial land - Almost 1 acre of land zoned for office use.
    Where is this commercial land located?
    The property is located at 1577 N DILLEYS Road Gurnee, IL.
    What is the asking price?
    The asking price for this property is $192,500.
    What are key features of this property?
    This property features: Prime Location: Key selling point for attracting businesses and clients.; Large Lot Size: Almost 1 acre provides ample space for development or expansion.; Zoned O‑1 Restricted Office District: Suitable for small‑scale office buildings and conversions.
    (847) 263-8100
    We can help!
    Listing Contact
    Steven Scalzo
    Real Estate License ID: 475102482
    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!