Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    South Holland Commercial Opportunity Title is generated by Realmo AI

    16224 Prince Drive, South Holland, IL 60473

    View on Map
    Claim this Listing
    New
    For Sale
    $365,000

    COMMERCIAL - South Holland, IL

    Type:Retail
    Lot size:
    0.08 Acres
    Added:
    May 28, 2026
    Days on Market:
    3
    Last Refresh:
    May 30 at 1:06 pm

    Property Features for 16224 Prince Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    29232020260000
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    28160

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1994
    Floors in Building
    2

    We can help!

    Listing Contact
    Sabrina Herrera

    Listing agent Sabrina Herrera

    Listing office REMAX Legends 17W480 22nd St, Oakbrook Terrace, IL

    Listing date May 28, 2026

    MLS# 12662209

    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.

    HighLights

    • Central air conditioning for year‑round comfort.
    • Built in 1994.

    Overview

    This commercial property is located in South Holland, Illinois. The lot size is approximately 0.078 acres. It is listed as a storefront, retail space, and general commercial real estate opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    bookie braids llc Hair Salon Cleopatra Hair Design Hair Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    South Holland
    County
    Cook
    State
    Illinois
    Longitude
    -87.5879756
    Latitude
    41.600139

    Nearby Similar for Sale

    • $349,900

      Remodeled Commercial Building on Busy Corner

      Remodeled commercial building with four bays on a busy corner.
      16800 State Street, South Holland, IL 60473
      View Details
    • $295,000
      4,920 SF

      Former Car Wash on 170th

      Former car wash for redevelopment in South Holland, Illinois.
      565 E 170th Street, South Holland, Illinois
      View Details
    • $7,550,000
      98,840 SF

      South Holland Industrial Park

      98,840 square foot industrial park on 6.1 acres.
      500 W Taft Dr, South Holland, IL 60473
      View Details
    • $488,500

      Commercial Property West of State

      Commercial property located west of State Street in South Holland.
      15810 Suntone Drive, South Holland, IL 60473
      View Details
    • $600,000
      6,500 SF

      South Holland Auto Center Investment

      Single tenant auto center for sale in South Holland, IL.
      245 W 162nd St, South Holland, IL
      View Details
    • $575,000
      9,700 SF

      South Holland Industrial Property

      9,700 SF industrial property available for purchase.
      16060 Suntone Dr, South Holland, IL 60473
      View Details
    • $3,550,000
      50,204 SF

      South Holland Warehouse with Storage

      50,204 SF warehouse with fenced outdoor storage available for lease.
      525 35 W 169th St, South Holland, IL
      View Details
    • $2,930,000
      40,500 SF

      South Holland Industrial Property

      40,500 SF industrial property in South Holland, Illinois.
      500 W 172nd St, South Holland, IL
      View Details
    • $3,850,000
      53,000 SF

      Industrial Building For Sale

      Net leased industrial building available for purchase.
      15555 La Salle St, South Holland, IL
      View Details
    • Contact for pricing
      6,148 SF

      Restaurant Conversion Opportunity

      Restaurant conversion opportunity in South Holland with incentives.
      16136 S. Park Ave, South Holland, IL 60473
      View Details
    • $375,000
      7,200 SF

      Mixed-Use Auto Repair Building

      7,200 SF mixed-use building with auto repair and apartment.
      16030 Suntone Dr, South Holland, IL
      View Details
    • $600,000
      6,500 SF

      Auto Shop on Busy Highway

      Auto shop with 8 bays in South Holland auto corridor.
      239 W 162nd St, South Holland, IL 60473
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial property for sale in South Holland, Illinois.
    Where is this storefront property located?
    The property is located at 16224 Prince Drive South Holland, IL.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: Central air conditioning for year‑round comfort.; Built in 1994.
    (708) 655-5000
    We can help!
    Listing Contact
    Sabrina Herrera
    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

    Thank You for Inquiry
    16224 Prince Drive, South Holland, IL 60473
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!