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    111 E Illinois Hwy New Lenox, IL 60451

    For Sale
    $515,000

    ±1.17 AC development site at signalized corner in Will County.

    Property size:
    50,965 SF
    Lot size:
    50.00 Acres

    Property Features for 111 E Illinois Hwy

    General Information

    Size
    50,965 SF
    Lot size
    50.00 Acres

    Source: Karen Kulczycki, CCIM, SIOR Agent Karen Kulczycki, CCIM, SIOR

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

    Overview

    Prime Development Site in New Lenox

    This ±1.17 AC development opportunity is located at the signalized corner of Illinois Hwy and Cedar Road in unincorporated Will County. The site is diagonally adjacent to the Cedar Shopping Center, which includes Rosati's Pizza, a cancer center, nail salon, dentist, liquor store, and other businesses, and across the street from a Speedway gas station and car wash. The property is located adjacent to the town of New Lenox, IL, offering access to a thriving community and a strong local economy. The location is near the New Lenox Village Commons, Silver Cross Hospital, and nearby retail centers. Situated 3 miles from the I-80/US-30 interchange and growing residential developments, this area presents an opportunity for retail or multifamily development. The current zoning is R-3, but annexation into the Village of New Lenox would allow a C-1 Neighborhood Convenience Shopping District or Single-Family/Duplex Residential Development. The property is located in the central Will County submarket.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    New Lenox
    County
    Will
    State
    Illinois
    Longitude
    -87.9644669
    Latitude
    41.497844

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    FAQs

    What type of property is this?
    Land - ±1.17 AC development site at signalized corner in Will County.
    Where is this land located?
    The property is located at 111 E Illinois Hwy New Lenox, IL.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: - ±1.17 AC development site at signalized corner of Illinois Hwy and Cedar Road; - Located in Unincorporated Will County, adjacent to New Lenox, IL; - Proximity to New Lenox Village Commons, Silver Cross Hospital, and retail centers
    (630) 330-3352
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    111 E Illinois Hwy New Lenox, IL 60451
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    New Lenox, IL 60451
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    Realmo Value Estimation

    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.

    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.

    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
    111 E Illinois Hwy New Lenox, IL 60451
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