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    West Bartlett Rd Bartlett, IL 60103

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    For Sale
    $2,100,000

    6.29-acre retail development site at Route 59 and Bartlett Rd.

    Lot size:
    6.29 Acres

    Property Features for West Bartlett Rd

    General Information

    Lot size
    6.29 Acres

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    Listing Contact
    David Coupe
    David Coupe
    Source: Svn

    Listing Agent: David Coupe

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

    Learn more

    Property Insight Report

    Overview

    Bartlett Retail Development Opportunity

    This 6.29-acre retail development site is located at the northwest corner of Route 59 and West Bartlett Road in Bartlett, Illinois. The site features over 480 feet of frontage on Route 59 and 574 feet of frontage on West Bartlett Road, with multiple access points. The B3 Zoning accommodates quick service restaurants, single or multi-tenant retail centers, grocery stores, and fuel uses. The property is situated on a commuter corridor 5 miles south of US 90, 1 mile east of Brewster Creek Business Park, and 1.4 miles from Downtown Bartlett and the Metra Station. It is adjacent to a new 200-acre DR Horton development with over 340 residential units, including single-family homes and active adult duplexes. Sewer and water are on-site, and village incentives may be available. The location at Route 59 and West Bartlett Road provides visibility and access. The property is surrounded by retail and dining options and offers access to major highways and the Chicago metropolitan area. Nearby landmarks include Hawk Hollow Forest Preserve and Bartlett Hills Golf Club. The site is a signalized corner with a daily traffic count of 36,000 vehicles.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Bartlett
    County
    Cook
    State
    Illinois
    Longitude
    -88.186147
    Latitude
    41.959583

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    FAQs

    What type of property is this?
    Land - 6.29-acre retail development site at Route 59 and Bartlett Rd.
    Where is this land located?
    The property is located at West Bartlett Rd Bartlett, IL.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: - Prime signalized corner location at Route 59 and West Bartlett Rd with high visibility and 36,000 VPD daily traffic count.; - Adjacent to a new 340-unit DR Horton residential development, providing a built-in customer base.; - Generous B3 Zoning allows for versatile development opportunities.
    (847) 812-8414
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    West Bartlett Rd Bartlett, IL 60103
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    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
    West Bartlett Rd Bartlett, IL 60103
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    We can help!
    Listing Contact
    David Coupe
    David Coupe
    Real Estate License ID: #471.016180
    (847) 812-8414 (312) 789-4866 (312) 676-1866
    Learn more
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