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

    16011 La Grange Rd Orland Park, IL 60467

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Land available for ground-up retail development in Orland Park, IL.

    Property size:
    562 SF
    Lot size:
    34.39 Acres

    Property Features for 16011 La Grange Rd

    General Information

    Size
    562 SF
    Lot size
    34.39 Acres

    We can help!

    Listing Contact
    Dick Spinell
    Dick Spinell
    Source: Moodyscre

    Listing Agent: Dick Spinell

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

    Learn more

    Overview

    Orland Park Retail Development Opportunity

    This property presents a ground-up development opportunity in a well-established Chicagoland trade area. The super-regional market encompasses over 5 million square feet of retail space. The site offers freestanding outlot opportunities with multiple access points from both La Grange Road and 159th Street, benefiting from a combined traffic volume of 68,400 vehicles per day. It is adjacent to a high-performing Costco location in Illinois. The property size is 562 square feet and is located in Orland Park, IL.
    Location Intelligence

    Current Use by Public Records

    La-Z-Boy Furniture Galleries Furniture Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8519219
    Latitude
    41.5993044

    Nearby Similar for Lease

    • Contact for pricing
      56,192 SF

      Orland Park Professional Office Space

      Professional office building in Orland Park with private parking.
      8651 W 159Th St, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Orland Park Premium Office Suite

      2,000 SF office suite in Orland Park's business corridor.
      13255 Southwest Hwy, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Orland Park Office/Medical Condo

      Well-appointed office condo in prime Orland Park location for rent.
      16525 106Th Ct, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Orland Park Corner Retail Space

      Corner retail/office space in Orland Park, flooded with natural light.
      11225 W 159Th St, Orland Park, IL 60467
      View Details
    • Contact for pricing

      Private Office Space Available

      Private office space with shared amenities in Orland Park.
      1600 Ravinia Pl, Orland Park, IL 60462
      View Details
    • New
      Contact for pricing

      Orland Park Industrial Warehouse Unit

      1600 SF warehouse with office, near I-57 and I-80.
      15527 S 70Th Ct, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Deluxe AAA Private Office Space

      Private office in Orland Park with utilities and internet included.
      15426 S 70Th Ct, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Retail Space in Orland Park

      Retail space available in the Old Orland section of town.
      9925 W 143Rd Pl, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Private Office Space in Orland

      Small office space with internet included, near I-80 and I-57.
      15426 S 70Th Ct, Orland Park, IL 60462
      View Details
    • $17 SF/Yr

      Versatile Flex Space Available

      Adaptable flex space suitable for various trades and small businesses.
      13361 Southwest Hwy, Orland Park, IL 60462
      View Details
    • $17 SF/Yr

      Versatile Flex Space for Trades

      Flex space with office and bathroom, suitable for various trades.
      13361 Southwest Hwy, Orland Park, IL 60462
      View Details
    • $17 SF/Yr

      Orland Park Flex Space Available

      Flex space suitable for various trades and small distribution businesses.
      13361 Southwest Hwy, Orland Park, IL 60462
      View Details

    FAQs

    What type of property is this?
    Retail space - Land available for ground-up retail development in Orland Park, IL.
    Where is this retail space located?
    The property is located at 16011 La Grange Rd Orland Park, IL.
    What are key features of this property?
    This property features: - Adjacent to the 4th highest performing Costco in Illinois; - Super regional market consisting of 5M+ square feet of retail; - Multiple access points from both La Grange & 159th Street (68,400 total VPD)
    (630) 954-7300
    Request Owner's contact information
    16011 La Grange Rd Orland Park, IL 60467
    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.
    16011 La Grange Rd
    Orland Park, IL 60467
    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
    16011 La Grange Rd Orland Park, IL 60467
    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
    Dick Spinell
    Dick Spinell
    (630) 954-7300
    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.