Sign Up Successful!
You now have access to more from Realmo!
    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

    000 Wood Farm Rd Plainfield, IL 60544

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,805,750

    Land suitable for high-density multi-family development in Plainfield, Illinois.

    Lot size:
    14.71 Acres

    Property Features for 000 Wood Farm Rd

    General Information

    Standard status
    Active
    Lot size
    14.71 Acres

    We can help!

    Listing Contact
    Larry Dickstein
    Source: Corcoran

    Listing Agent: Larry Dickstein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land in Downtown Plainfield Location

    This property is located within walking distance of the stores and restaurants in downtown Plainfield and the Park 'n Ride. The property is currently in the county and can be annexed to Plainfield. According to Plainfield's new comprehensive plan, this property is intended for high-density multi-family development in the R-4 zoning district.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Will
    State
    Illinois
    Longitude
    -88.2114841
    Latitude
    41.6136666

    Nearby Similar for Sale

    • $484,999
      0.23 Acres

      Charming Log Cabin Style Office

      Unique commercial property with two buildings and modern updates.
      16143 S Lincoln Hwy, Plainfield, IL 60544
      View Details
    • $349,999
      Pending

      Commercial Building in High-Traffic Location

      Standalone commercial building with versatile space and convenient customer access.
      14810 N Michigan St, Plainfield, IL 60544
      View Details
    • $580,000
      0.94 Acres

      Route 59 Commercial Conversion Opportunity

      Nearly one-acre Plainfield property suitable for commercial conversion.
      15707 Division St, Plainfield, IL 60544
      View Details
    • $399,994

      New Contemporary Townhome in Plainfield

      Three-bedroom townhome with modern design and open-concept layout.
      15153 S Hepworth Pl, Plainfield, IL 60544
      View Details
    • $366,495

      Refined Townhome in Plainfield

      Three-bedroom townhome with open layout and modern amenities in Plainfield.
      25712 W Yorkshire Dr, Plainfield, IL 60544
      View Details
    • $298,900
      1,397 SF

      Active Adult Community End Unit

      Spacious 2 bed, 2 bath end unit in Plainfield 55+ community.
      21521 W Douglas Ln, Plainfield, IL 60544
      View Details
    • $184,900
      918 SF

      Carillon Community Condo For Sale

      55+ community condo with 1 bedroom and resort-style amenities.
      13750 Bristlecone Dr S, Plainfield, IL 60544
      View Details
    • Contact for pricing
      6,150 SF

      Freestanding Restaurant Building on Outlot

      6,150 SF restaurant building on 1.1-acre outlot for sale.
      59 12740, Plainfield, IL
      View Details
    • $245,000
      1,292 SF

      Carillon Community Home with Wetland View

      Active adult community home with desirable wetland views.
      20944 W Blossom Ln, Plainfield, IL 60544
      View Details
    • $1,250,000
      3,900 SF

      Automotive Service Center For Sale

      Automotive service center with net lease and annual increases.
      135th W St, Plainfield, IL
      View Details
    • $1,200,000
      8,300 SF

      Industrial Property Near I-55

      Column-free shop space with high ceilings, near I-55.
      17320 S Delia Ave, Plainfield, IL 60586
      View Details
    • $299,900
      1,430 SF

      Updated Townhome in 55+ Community

      Updated ranch-style townhome in Plainfield's Carillon 55+ community.
      21351 Silktree Cir, Plainfield, IL 60544
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land suitable for high-density multi-family development in Plainfield, Illinois.
    Where is this commercial land located?
    The property is located at 000 Wood Farm Rd Plainfield, IL.
    What is the asking price?
    The asking price for this property is $4,805,750.
    What are key features of this property?
    This property features: - Great Location, walking distance to downtown Plainfield's stores and restaurants.; - Convenient access with walking distance to the Park 'n Ride.; - Development potential: Designated for high-density multi-family development (R-4 zoning).
    (847) 394-8000
    Request Owner's contact information
    000 Wood Farm Rd Plainfield, IL 60544
    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.
    000 Wood Farm Rd
    Plainfield, IL 60544
    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
    000 Wood Farm Rd Plainfield, IL 60544
    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

    We can help!
    Listing Contact
    Larry Dickstein
    (847) 394-8000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.