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

    1115 N Independence Blvd Romeoville, IL 60446

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Approximately 3.00 acres for redevelopment in Romeoville, Illinois.

    Type:Land
    Lot size:
    3.35 Acres
    Added:
    Mar 7, 2026
    Days on Market:
    47
    Last Refresh:
    Mar 7 at 7:05 pm

    Property Features for 1115 N Independence Blvd

    General Information

    Standard status
    Active
    Lot size
    3.35 Acres
    Property subtype
    Land

    Properties For Sale

    at 1115 N Independence Blvd Contact us

    We can help!

    Listing Contact
    Terri Alexander
    Terri Alexander

    Listing agent Terri Alexander

    Listing office Transwestern | Rosemont

    Listing date Mar 7, 2026

    Source Transwestern

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

    All listing content including descriptions, pricing, images are the copyrighted material of Transwestern | Rosemont

    Overview

    Redevelopment Site in Romeoville

    This redevelopment site offers approximately 3.00 acres of a larger 3.35-acre parcel, with the final configuration to be determined. The site is bordered by Romeoville, Illinois, and potential uses include industrial and commercial development. An additional approximately 1.5 acres may be available through a separate seller, bringing the total potential acreage to approximately 4.5 acres. Currently zoned A-1 in unincorporated Will County, the property has utilities available in Abbott Road. The site currently contains two houses, a two-car garage, and a shed.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Romeoville
    County
    Will
    State
    Illinois
    Longitude
    -88.0658491
    Latitude
    41.6661361

    Nearby Similar for Sale

    • $470,000

      Former Church Sanctuary Space

      Move-in ready sanctuary with open layout and abundant natural light.
      1251 Windham Parkway, Romeoville, IL 60446
      View Details
    • $549,750

      Romeoville Development Opportunity on Weber

      3.474 acre site in thriving commercial area on Weber Rd.
      N Weber Road, Romeoville, IL 60446
      View Details
    • $399,500

      1.65 Acres of Commercial Land

      Two adjacent lots totaling 1.65 acres available for purchase.
      746 Oakridge Drive, Romeoville, IL
      View Details
    • $5,664,000
      10,030 SF

      Kiddie Academy NNN Investment

      NNN investment opportunity in Romeoville, Illinois.
      1311 W Airport Rd, Romeoville, IL, Romeoville, IL 60446
      View Details
    • $399,500

      Commercial Lot on Route 53

      0.68 acre lot with great exposure on Rt. 53.
      733 Oakridge Dr., Romeoville, IL 60446
      View Details
    • $775,000

      Romeoville Vacant Land For Sale

      1.71 acre vacant land with high visibility in Romeoville.
      Weber Road lot: 5, Romeoville, IL 60446
      View Details
    • $1,500,000
      3,500 SF

      Turnkey Retail Building on Weber

      Modern 3,500 SF retail building in active commercial corridor.
      780 S Weber Rd, Romeoville, IL 60446
      View Details
    • $1,495,000
      5,258 SF

      Freestanding Building with Drive-Thru

      5,258 SF building with drive-thru on hard corner.
      495 Weber Rd, Romeoville, IL
      View Details
    • Contact for pricing
      43,590 SF

      Class A Office Building

      New Class A office building in Windham Business Park.
      1250 Windham Parkway , Romeoville, IL 60446
      View Details
    • $2,200,000
      18,480 SF

      Fully Leased Office Building

      Fully leased office building with recent and upcoming improvements.
      1211 W Lakeview Ct, Romeoville, IL
      View Details
    • $575,000

      Two Adjacent Lots on Oakridge

      Two adjacent lots totaling 1.65 acres for sale.
      735 Oakridge Dr, Romeoville, IL
      View Details
    • Contact for pricing
      47,487 SF

      Windham Parkway Office Space Available

      Office spaces for sale in Windham Business Park.
      1261 - 1295 Windham Parkway, Romeoville, IL 60446
      View Details

    FAQs

    What type of property is this?
    Commercial land - Approximately 3.00 acres for redevelopment in Romeoville, Illinois.
    Where is this commercial land located?
    The property is located at 1115 N Independence Blvd Romeoville, IL.
    What are key features of this property?
    This property features: Redevelopment site available on ±3.00 acres.; Potential for up to ±4.5 acres with adjacent land.; Zoned A‑1 Unincorporated Will County.
    (847) 588-5641
    We can help!
    Listing Contact
    Terri Alexander
    Terri Alexander
    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!