Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wooded Acre Site Opportunity Title is generated by Realmo AI

    1971 Red Oak Lane lot 49, Spring Grove, IL 60081

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $37,000

    LAND - Spring Grove, IL

    Lot size:
    1.00 Acre
    Added:
    Feb 26, 2026
    Days on Market:
    79
    Last Refresh:
    May 16 at 6:06 pm

    Property Features for 1971 Red Oak Lane lot 49

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SINGL
    Standard status
    Active Under Contract
    APN
    0530352004
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    500

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Darlene Barnas
    Darlene Barnas

    Listing agent Darlene Barnas License #471004428

    Listing office Re/Max Advantage 532 Lake St, Antioch, IL

    Listing date Feb 26, 2026

    MLS# 12570708 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.

    HighLights

    • 1‑acre lot in desirable Red Oak Estates
    • Opportunity to build a custom dream home
    • Mature trees and picturesque setting
    • Close proximity to downtown restaurants, grocery store, and Hatchery Park
    • Potential for walk‑out or look‑out basement
    • Convenient commute to Fox Lake Metra Station, Glacier Park, and Lake Geneva

    Overview

    This vacant 1-acre lot presents an opportunity to create a custom home in the Red Oak Estates community. The site is among mature trees, offering a serene setting. The available lots have varied characteristics and are suited for a walk-out or look-out basement, allowing for maximized living space and natural light. The location provides convenient access to downtown restaurants, the grocery store, Hatchery Park, and seasonal festivities. Commuting is facilitated by proximity to the Fox Lake Metra station and Glacier Park. Recreational opportunities are available at the Chain of Lakes, including boating and fishing. The property is located in Spring Grove, IL, with access to top-rated schools.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Grove
    County
    McHenry
    State
    Illinois
    Longitude
    -88.232984
    Latitude
    42.432442

    Nearby Similar for Sale

    • $37,000

      Wooded Acre Site Opportunity

      Build your dream home in Red Oak Estates community.
      7389 English Oak Lane lot: 33, Spring Grove, IL 60081
      View Details
    • $37,000

      Red Oak Estates Vacant Lot

      Build your dream home in desirable Red Oak Estates community.
      7373 English Oak Lane lot: 29, Spring Grove, IL 60081
      View Details
    • $37,000

      Wooded Acre Site in Spring Grove

      Build your dream home in Red Oak Estates community.
      7377 English Oak Lane lot: 30, Spring Grove, IL 60081
      View Details
    • $37,000

      Wooded Acre Site in Spring Grove

      Build your dream home in Red Oak Estates community.
      7388 English Oak Lane lot: 42, Spring Grove, IL 60081
      View Details
    • $37,000

      Wooded Acre Site in Estates

      Build your dream home in desirable Red Oak Estates community.
      1852 Red Oak Lane lot: 13, Spring Grove, IL 60081
      View Details
    • $169,900

      Premium Estate Lot with Pond

      3.18-acre estate lot with pond frontage in White Tail Crossing.
      8219 Squirrel Drive lot: 20, Spring Grove, IL 60081
      View Details
    • $37,000

      Wooded Acre Site in Spring Grove

      Build your dream home in Red Oak Estates community.
      1715 Cedar Lane lot: 18, Spring Grove, IL 60081
      View Details
    • $46,000

      Waterfront Lot on Nippersink Channel

      7,800 sq ft waterfront lot with 50' frontage.
      38581 N Hillandale Drive, Spring Grove, IL 60081
      View Details
    • $109,900

      Spring Grove Commercial Land Available

      1.84 acre commercial land with high traffic exposure.
      Mayo Court lot: 9, Spring Grove, IL 60081
      View Details
    • $37,000

      Wooded Acre Site in Spring Grove

      Build your dream home in Red Oak Estates community.
      1848 Red Oak Lane lot: 14, Spring Grove, IL 60081
      View Details
    • $37,000

      Acre Lot in Red Oak Estates

      Build your dream home in desirable Red Oak Estates community.
      1975 Red Oak Lane lot: 50, Spring Grove, IL 60081
      View Details
    • $37,500

      Residential Land in Spring Grove, IL

      Residential land available for building a dream home.
      Beverly Way lot: 60 & 61, Spring Grove, IL 60081
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Build your dream home in Red Oak Estates community.
    Where is this residential land & home lot located?
    The property is located at 1971 Red Oak Lane lot 49 Spring Grove, IL.
    What is the asking price?
    The asking price for this property is $37,000.
    What are key features of this property?
    This property features: 1‑acre lot in desirable Red Oak Estates; Opportunity to build a custom dream home; Mature trees and picturesque setting
    (847) 293-6453
    We can help!
    Listing Contact
    Darlene Barnas
    Darlene Barnas
    Real Estate License ID: 471004428
    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

    Thank You for Inquiry
    1971 Red Oak Lane lot: 49, Spring Grove, IL 60081
    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!