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

    24317 Schubert Lane Shorewood, IL 60404

    View on Map
    Claim this Listing
    For Sale
    $109,900

    LAND - Shorewood, IL

    Added:
    May 5, 2025
    Days on Market:
    362
    Last Refresh:
    May 1 at 11:06 am

    Property Features for 24317 Schubert Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SINGL
    Standard status
    Active
    APN
    0506282520030000

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2016

    We can help!

    Listing Contact
    Sara Eichstaedt

    Listing agent Sara Eichstaedt License #475204923

    Listing office Keller Williams Preferred Rlty 16101 108th Avenue, Orland Park, IL

    Listing date May 5, 2025

    MLS# 12355619 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.

    Overview

    Residential Land in Shorewood, IL

    This residential land is located in Shorewood, Illinois, within Will County. The property is zoned for single-family residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Shorewood
    County
    DuPage
    State
    Illinois
    Longitude
    -88.2015
    Latitude
    41.5199

    Nearby Similar for Sale

    • $74,900

      Heavily Wooded Lot in Shorewood

      0.64 acre wooded lot in Lake Forrest subdivision.
      24863 W Sterling Oaks Court lot: 60, Shorewood, IL 60404
      View Details
    • $125,000

      Premium Homesite in Lake Forrest

      Exceptional double lot in Shorewood's sought-after Lake Forrest community.
      25028 Old Oak Lane, Shorewood, IL 60404
      View Details
    • $94,900

      Shorewood, IL Land For Sale

      Residential land available in Shorewood, Illinois.
      21405 S Woodland Way, Shorewood, IL 60404
      View Details
    • $130,000

      Land Opportunity in Shorewood, IL

      Expansive land parcel in Shorewood, IL for building your dream home.
      21312 S Timber Trail, Shorewood, IL 60404
      View Details
    • $140,000

      Shorewood, IL Premium Lot

      Premium lot in Lake Forrest Subdivision, Shorewood, Illinois.
      25102 Old Oak Lane lot: 28, Shorewood, IL 60404
      View Details
    • $1,950,000

      Development-Ready Industrial Land Opportunity

      Six acres of I-2 zoned land in Shorewood, Illinois.
      25520 W Black Rd, Shorewood, IL 60404
      View Details
    • $965,000

      Shorewood Development Opportunity

      4.35 acre commercial land with development potential.
      2 West Jefferson Street, Shorewood, IL 60404
      View Details
    • Contact for pricing

      Commercial Land Site For Sale

      9.32 acre commercial land site available for sale.
      24132 W Black Rd, Shorewood, IL 60404
      View Details
    • $2,056,950

      45 Acres Farmland For Development

      Vacant farmland prime for development near Shorewood, Illinois.
      W Seil Rd, Shorewood, IL 60404
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      900 Cottage St, Shorewood, IL 60404
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land for sale in Shorewood, Illinois.
    Where is this residential land & home lot located?
    The property is located at 24317 Schubert Lane Shorewood, IL.
    What is the asking price?
    The asking price for this property is $109,900.
    What are key features of this property?
    This property features: Undisclosed Property Details: Highlights potential for unique and appealing features.; Location Coordinates: Provides precise geographic location for buyer's assessment.; Additional Property Details: Suggests further information available beyond the description.
    (708) 798-1111
    We can help!
    Listing Contact
    Sara Eichstaedt
    Real Estate License ID: 475204923
    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

    24317 Schubert Lane, Shorewood, IL 60404

    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!