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

    976 Mesa Court University Park, IL 60484

    View on Map
    For Sale
    Contact for pricing

    LAND - University Park, IL

    Lot size:
    3.20 Acres
    Added:
    Jan 19, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 1 at 8:06 am

    Property Features for 976 Mesa Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    2114131070650000
    Lot size
    3.20 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    7801

    We can help!

    Listing Contact
    Anthony Disano
    Anthony Disano

    Listing agent Anthony Disano License #471010606

    Listing office Parkvue Realty Corporation 3501 W. Algonquin Rd 135, Rolling Meadows, IL

    Listing date Jan 19, 2026

    MLS# 12549395 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

    University Park Developable Land

    This is approximately 3.2 acres of developable land situated along Burnham Drive, a highly traveled road. The property features over 300 feet of road frontage and additional access from multiple paved roads. The unfinished development includes 24 existing concrete housing pads, with space for an additional 24 pads. Located in University Park, a Chicago suburb approximately 30 miles south of downtown Chicago, this residential development site presents an opportunity for builders or investors. The property taxes are paid until 2027, and the total closing costs are $795.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Daycare Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    University Park
    County
    Will
    State
    Illinois
    Longitude
    -87.686373
    Latitude
    41.439338

    Nearby Similar for Sale

    • $1,500,000
      12,600 SF

      Free-Standing Flex/Industrial Building For Sale

      12,600 SF flex/industrial building divisible into six units.
      Park Forest, IL 60466
      View Details
    • $38,000

      University Park Commercial Land

      1.85 acre commercial land for sale in University Park.
      24625 S Western Avenue, University Park, IL 60484
      View Details
    • $40,000

      University Park Land for Development

      Four connected vacant lots perfect for new development in University Park.
      608 Sullivan Lane, University Park, IL 60484
      View Details
    • $13,000

      Residential Lot in University Park

      0.15-acre residential lot in Wood Hills Ridgeview subdivision.
      735 Union Drive, University Park, IL 60484
      View Details
    • Contact for pricing
      119 SF

      119 Acres Industrial Land Available

      Three industrial sites totaling 119 acres with easy highway access.
      2400 University Parkway, University Park, IL, 60449
      View Details
    • $5,750,000
      58 SF

      University Park Land Opportunity

      58 acres of land available in University Park, Illinois.
      475 Crossing Drive, University Park, IL 60449
      View Details
    • $5,995,000

      Industrial Land Near I-57 Interchange

      55.64 acres of industrial-zoned land in University Park, Illinois.
      SEC of Stuenkel Rd. and Central Ave., University Park, IL 60484
      View Details
    • $6,750,000
      123,600 SF

      Industrial and Cold Storage Warehouse

      80,116 SF industrial and cold storage warehouse for sale.
      80-90 N St, Park Forest, IL
      View Details
    • Contact for pricing
      33 SF

      University Park Land Parcel

      Land parcel available in University Park, Illinois.
      Dralle Rd. & Central Rd., University Park, IL 60466
      View Details
    • Contact for pricing

      22.92 Acres Development Opportunity

      22.92 acres available for sale or lease near I-57.
      2355 Bond St, University Park, IL
      View Details
    • $5,995,000

      Land Near I-57 Interchange

      Land available near I-57 interchange with water and sewer access.
      500 Crossing Dr, University Park, IL
      View Details
    • $1,320,000

      8.65 Acre Land Parcel

      8.65 acre land parcel zoned agricultural, utilities at street.
      2417 Bond St, University Park, IL
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 3.2 acres with 24 concrete housing pads in University Park.
    Where is this residential land & home lot located?
    The property is located at 976 Mesa Court University Park, IL.
    What are key features of this property?
    This property features: 3.2 acres of developable land with **24 existing concrete housing pads and room for 24 more.**; Located along highly traveled Burnham Drive with **over 300 feet of road frontage** and access from multiple paved roads.; Situated in a desirable Chicago suburb approximately 30 miles south of downtown Chicago.
    (312) 788-4040
    We can help!
    Listing Contact
    Anthony Disano
    Anthony Disano
    Real Estate License ID: 471010606
    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!