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

    3310 W Il Rte, Unit 60 Mundelein, IL

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

    Commercial land for rent near residential developments in Mundelein, IL.

    Lot size:
    1.98 Acres

    Property Features for 3310 W Il Rte

    General Information

    Lot size
    1.98 Acres

    We can help!

    Listing Contact
    Liz Krebs
    Liz Krebs
    Source: Moodyscre

    Listing Agent: Liz Krebs

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

    Learn more

    Overview

    Commercial Land Near Residential Developments

    This commercial land is situated near several residential developments. The Del Webb Grand Dominion development, located just south of Mundelein Crossings, includes approximately 700 residential units. A new Lennar townhome development, consisting of 150 units, is currently under construction just north of the property. Downtown Mundelein added approximately 200 apartment units in 2019. Pulte is planning to add 187 single-family homes immediately across the street, with construction scheduled to begin in the spring of 2021. The property provides 5 parking spaces per 1,000 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Mundelein
    County
    Lake
    State
    Illinois
    Longitude
    -88.0039653
    Latitude
    42.263079

    Nearby Similar for Lease

    • Contact for pricing

      Mundelein Office Space For Rent

      720 sq ft office space in Mundelein, Illinois.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space Available

      Office space for rent in Mundelein, Illinois.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein, high visibility location.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space Available

      Office space for rent in Mundelein, high visibility location.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing
      143,424 SF

      Grocery Anchored Retail Space Available

      Retail spaces for lease in busy Mundelein shopping center.
      1501 South Lake St, Mundelein, IL 60060
      View Details
    • $7 SF/Yr
      60,000 SF

      Mundelein Industrial Space For Lease

      60,000 SF industrial space with office and loading docks.
      1700-1710 Butterfield Rd, Mundelein, IL 60060
      View Details
    • $14 SF/Yr
      6,000 SF

      Retail Space in High-Traffic Area

      Retail and restaurant spaces available in busy Mundelein location.
      340-372 Townline Rd, Mundelein, IL
      View Details
    • $10 SF/Yr
      62,304 SF

      Hawley Commons Retail Center

      Grocery-anchored retail space in Mundelein, IL
      311 Seymour Ave, Mundelein, IL 60060
      View Details
    • $3,400 /Mo
      4,500 SF

      Retail Storefronts and Medical Office

      Three retail spaces available for lease in Mundelein, Illinois.
      157-161 N Seymour Ave, Mundelein, IL
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land for rent near residential developments in Mundelein, IL.
    Where is this land located?
    The property is located at 3310 W Il Rte, Unit 60 Mundelein, IL.
    What are key features of this property?
    This property features: - High parking ratio: 5 spaces per 1,000 sf; - Located near Del Webb Grand Dominion development (±700 residential units); - New Lennar townhome development (150 units) under construction nearby
    (630) 954-7300
    Request Owner's contact information
    3310 W Il Rte, Unit 60 Mundelein, IL
    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.
    3310 W Il Rte, Unit 60
    Mundelein, IL
    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
    3310 W Il Rte, Unit 60 Mundelein, IL
    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
    Liz Krebs
    Liz Krebs
    (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.