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

    531 156th Street Calumet City, IL 60409

    View on Map
    Picture of Commercial land at 531 156th Street, Calumet City, IL
    For Sale
    Contact for pricing

    LAND - Calumet City, IL

    Added:
    Feb 5, 2026
    Days on Market:
    60
    Last Refresh:
    Apr 6 at 11:06 pm

    Property Features for 531 156th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    MULTI
    Standard status
    Active
    APN
    30171160080000

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    600

    We can help!

    Listing Contact
    Nelly Lara
    Nelly Lara

    Listing agent Nelly Lara License #471003531

    Listing office Su Familia Real Estate Inc 5417 S. Pulaski Rd., CHICAGO, IL

    Listing date Feb 5, 2026

    MLS# 12562380

    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

    Vacant Lot in Calumet City

    This is a vacant lot located in Calumet City, Illinois. The property is zoned MULTI and offers excellent potential. It is located in Cook County.
    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 Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Calumet City
    County
    Cook
    State
    Illinois
    Longitude
    -87.538647
    Latitude
    41.611794

    Nearby Similar for Sale

    • $300,000

      Calumet City Two-Unit Building

      Meticulously maintained two-unit building with potential for a third unit.
      341 Crandon Avenue, Calumet City, IL 60409
      View Details
    • $402,500

      Calumet City Multifamily Investment Opportunity

      Six-unit building with recent updates and income potential in Calumet City.
      649 Jeffery Avenue, Calumet City, IL 60409
      View Details
    • $299,000

      Calumet City Multifamily Investment Property

      Solid brick multifamily property with income potential in Calumet City.
      1600 MEMORIAL Drive, Calumet City, IL 60409
      View Details
    • $197,000

      Updated Calumet City Two-Flat

      Turnkey two-flat with recent upgrades, ideal for investors.
      566 Ingraham Avenue, Calumet City, IL 60409
      View Details
    • $2,850,000
      12,614 SF

      Renovated Truck Transfer/Parking Facility

      Newly renovated truck transfer/parking facility with I-94 access.
      2000 Dolton Road 2000, Calumet City, IL 60409
      View Details
    • $255,000

      Calumet City Income Property

      Four-unit building with rental potential on a double lot.
      207 155th Street, Calumet City, IL 60409
      View Details
    • $234,900

      Calumet City Two-Unit Building

      Two-unit building with updated finishes, ideal for owner-occupant or investor.
      1677 Patricia Place, Calumet City, IL 60409
      View Details
    • $1,310,000
      12,855 SF

      Dollar General Redevelopment Opportunity

      Dollar General NNN investment in Calumet City, Illinois.
      626 River Oaks Drive, Calumet City, IL 60409
      View Details
    • $205,000

      Calumet City Multifamily Investment

      Two-unit building with renovation potential in Calumet City, Illinois.
      310 Yates Avenue, Calumet City, IL 60409
      View Details
    • $425,000
      2,800 SF

      Retail

      799 River Oaks Dr, Calumet City, IL 60409
      View Details
    • $194,500

      Renovated Mixed-Use Investment Opportunity

      Fully renovated mixed-use property with commercial space and rental income.
      1475 Sibley Boulevard, Calumet City, IL 60409
      View Details
    • $344,999

      Calumet City Townhouse Investment Package

      Four townhouses in Calumet City, generating cash flow.
      1420-1424 Wentworth Avenue, Calumet City, IL 60409
      View Details

    FAQs

    What type of property is this?
    Commercial land - Priced vacant lot with excellent potential in Calumet City.
    Where is this commercial land located?
    The property is located at 531 156th Street Calumet City, IL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Vacant lot: **Ready for immediate development.**; Priced competitively: Represents a strong value proposition.; Calumet City location: Situated within Calumet City.
    (312) 656-6301
    We can help!
    Listing Contact
    Nelly Lara
    Nelly Lara
    Real Estate License ID: 471003531
    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!