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    41115-41318 N Mill Creek Rd Old Mill Creek, IL 60083

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    For Sale
    $3,015,000

    67-acre residential development site with future interchange access.

    Lot size:
    67.00 Acres

    Property Features for 41115-41318 N Mill Creek Rd

    General Information

    Lot size
    67.00 Acres

    Source: Millennium Properties Real Estate Agent Brad Thompson

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

    Overview

    67 Acre Residential Development Site

    This 67-acre residential development site is located on the southwest corner of Route 173 and Mill Creek Road. The site benefits from the future plan of an interchange at I-94 and Route 173, which is slated to eventually become a full 4-way interchange. It is adjacent to the CenterPoint Business Park development and offers easy access to O’Hare International Airport, Mitchell International Airport, MetraRail, and highways. The zoning is SR - Suburban Residential. The location experiences a traffic count of 98,000 vehicles daily, presenting a great opportunity for a developer or investor.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Auto Parts Store Hotel & Motel Bar & Pub Computer & Electronic Repair Convenience Store Bed & Breakfast Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Mill Creek
    County
    Lake
    State
    Illinois
    Longitude
    -87.952256
    Latitude
    42.465893

    FAQs

    What type of property is this?
    Land - 67-acre residential development site with future interchange access.
    Where is this land located?
    The property is located at 41115-41318 N Mill Creek Rd Old Mill Creek, IL.
    What is the asking price?
    The asking price for this property is $3,015,000.
    What are key features of this property?
    This property features: - 1.67-acre residential development site.; - Located on SWC of Route 173 and Mill Creek Road.; - Benefits from future plan of a full 4-way interchange at I-94 and Route 173.
    (312) 338-3000
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    Old Mill Creek, IL 60083
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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
    41115-41318 N Mill Creek Rd Old Mill Creek, IL 60083
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