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    20920 Governors Hwy Olympia Fields, IL 60461

    For Sale
    $250,000

    Land - Olympia Fields, IL

    Days on Market:
    283
    Last Refresh:
    Dec 7 at 9:06 am

    Property Features for 20920 Governors Hwy

    General Information

    Special listing conditions
    Real Estate Owned
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Real Estate Owned
    Standard status
    Active
    Zoning
    COMMR
    APN
    31231050160000

    Building Details

    Architectural style
    Other

    MoHall Commercial & Urban Development LLC (312) 826-9925 [email protected]

    Listing agent Moses Hall (312) 826-9925 License #471019687

    Listing date Feb 28, 2025

    MLS# 12296813 Listing URL

    Copyright © 2025 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

    Prime Commercial Land, Olympia Fields

    Located at 20920 Governors Highway in Olympia Fields, Illinois, this 1.05-acre commercial parcel presents a development opportunity. Zoned B-3 General Retail and Limited Service District, the site is suitable for retail centers, financial institutions, medical offices, quick-service restaurants, and mixed-use projects. The property benefits from a high-traffic corridor with 18,667 vehicles passing daily, offering visibility and accessibility. Situated between Walgreens and Gordon Food Services, the property includes cross-access easements. The flat, cleared lot is improved with water, sewer, electricity, and gas, making it ready for development. The property has frontage on Governors Highway and easy ingress and egress. The location benefits from local demographics, including 7,697 residents within a one-mile radius and a median household income of 73,302. A daytime workforce of over 5,000 employees provides opportunities for businesses catering to professionals and local workers. The B-3 zoning is suited for national retailers, medical facilities, professional office buildings, restaurants, and service-oriented businesses. The property is located in a growing commercial area, offering a high-exposure site in an established community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia Fields
    County
    Cook
    State
    Illinois
    Longitude
    -87.71183
    Latitude
    41.509159

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    FAQs

    What type of property is this?
    Commercial land - 1.05-acre commercial parcel in high-traffic area, shovel-ready.
    Where is this commercial land located?
    The property is located at 20920 Governors Hwy Olympia Fields, IL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Prime 1.05-acre commercial parcel on Governors Highway with high traffic (18,667 vehicles daily).; - Zoned B-3 General Retail and Limited Service District, suitable for diverse developments.; - Shovel-ready site: Flat, cleared, and fully improved with utilities.
    (312) 826-9925
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    20920 Governors Hwy Olympia Fields, IL 60461
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    Olympia Fields, IL 60461
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    Realmo Value Estimation

    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.

    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.

    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
    20920 Governors Hwy Olympia Fields, IL 60461
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