Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    571 W 14th St Chicago Heights, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial land available for ground lease or build to suit.

    Type:LAND
    Lot size:
    0.69 Acres
    Added:
    Feb 12, 2025
    Days on Market:
    441
    Last Refresh:
    Apr 5 at 11:09 pm

    Property Features for 571 W 14th St

    General Information

    Standard status
    Active
    Lot size
    0.69 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 571 W 14th St Contact us

    We can help!

    Listing Contact
    Todd J. Cabanban

    Listing agent Todd J. Cabanban

    Listing office Cabanban Rubin & Mayberry LLC

    Listing date Feb 12, 2025

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Cabanban Rubin & Mayberry LLC

    Overview

    Land Adjacent to Starbucks Development

    This commercial land is situated adjacent to a new Starbucks development. The location benefits from high traffic volume, with approximately 50,000 cars passing through the intersection daily. The surrounding area has a substantial population, with over 80,000 people residing within a 3-mile radius or a 10-minute drive. The site is located at a signalized intersection. The property offers options for build-to-suit development or a ground lease. The land area is approximately 30,000 square feet, with dimensions of 146.7 feet by 190 feet. There is potential for expansion.
    Location Intelligence

    Current Use by Public Records

    Extra Space Storage Storage Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.669
    Latitude
    41.5065

    Nearby Similar for Lease

    • Contact for pricing

      Storefront on Route 30

      Storefront for rent on Route 30 in Chicago Heights.
      710 W Lincoln Highway, Chicago Heights, IL 60411
      View Details
    • $6 SF/Yr

      Freestanding Industrial Facility with Rail

      Heavy industrial facility featuring rail spur, cranes, and updated infrastructure.
      300 Joe Orr Road, Chicago Heights, IL 60411
      View Details
    • $17 SF/Yr

      Storefront for Rent on Route

      Neighborhood storefront on a high-traffic route with ample parking.
      710 W Lincoln Highway, Chicago Heights, IL 60411
      View Details
    • $18 SF/Yr

      Renovated Office Spaces Available

      Meticulously renovated office spaces in a contemporary building.
      222 Vollmer Road #2B, Chicago Heights, IL 60411
      View Details
    • $5 SF/Yr

      Chicago Heights Industrial Building For Rent

      106,320 SF multi-tenant industrial building near major highways.
      1300 Hilltop Ave, Chicago Heights, IL 60411
      View Details
    • $10 SF/Yr

      Renovated Office Spaces Available

      Meticulously renovated office spaces in a contemporary building.
      222 Vollmer Road #LLB, Chicago Heights, IL 60411
      View Details
    • $18 SF/Yr

      Renovated Office Spaces For Rent

      Meticulously renovated office spaces with modern design and strategic location.
      222 Vollmer Rd Ste 2b, Chicago Heights, IL, 60411-1893
      View Details
    • $12 SF/Yr

      Professional Office Suites For Rent

      Well-maintained professional building with flexible suites in Chicago Heights.
      165 W 10th Street, Chicago Heights, IL 60411
      View Details
    • $10 SF/Yr

      Renovated Office Spaces Available

      Meticulously renovated office spaces in a coveted location.
      222 Vollmer Road #LLF, Chicago Heights, IL 60411
      View Details
    • $6 SF/Yr

      Freestanding Industrial Facility with Rail

      Heavy industrial facility featuring rail spur, cranes, and updated infrastructure.
      Chicago Heights, IL 60411
      View Details
    • Contact for pricing

      Turnkey Auto Repair Facility

      Fully equipped auto repair shop for lease in Steger, Illinois.
      26 E 34th Pl, Steger, IL 60475
      View Details
    • Contact for pricing

      High-Traffic Retail Space Available

      Retail spaces in a high-traffic shopping center with ample parking.
      79-207 W Joe Orr Rd, Chicago Heights, IL 60411
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land available for ground lease or build to suit.
    Where is this land located?
    The property is located at 571 W 14th St Chicago Heights, IL.
    What are key features of this property?
    This property features: **High traffic location: Approximately 50,000 cars per day at the intersection.**; **Prime lot adjacent to new Starbucks development.**; High population density: Over 80,000 people within 3 miles/10 minutes.
    (312) 477-0330 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Todd J. Cabanban
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!