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

    15900 94th Ave Orland Park, IL

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

    Commercial land with high visibility and mixed-use zoning.

    Type:LAND
    Lot size:
    0.93 Acres
    Added:
    Feb 7, 2024
    Days on Market:
    812
    Last Refresh:
    Apr 5 at 11:19 pm

    Property Features for 15900 94th Ave

    General Information

    Standard status
    Active
    Lot size
    0.93 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Peter Block
    Peter Block

    Listing agent Peter Block

    Listing office Colliers | Chicago Rosemont

    Listing date Feb 7, 2024

    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 Colliers | Chicago Rosemont

    Overview

    Land in High-Traffic Area

    This commercial land is strategically located at the hard corner of a lighted intersection. The property benefits from strong traffic counts exceeding 45,000 vehicles per day. The surrounding area features a high daytime population within a 1-mile radius and is home to major retailers. The zoning is mixed-use, offering a range of potential development opportunities.
    Location Intelligence

    Current Use by Public Records

    Red Light Camera ... Traffic Officer

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8485
    Latitude
    41.601

    Nearby Similar for Sale

    • $449,500

      Prime Corner Parcel in Orland

      Highly visible 1.64-acre corner parcel ideal for restaurant use.
      11200 W 183rd Street, Orland Park, IL 60467
      View Details
    • $649,000

      Orland Park Commercial Redevelopment Opportunity

      Closed car wash suitable for redevelopment in Orland Park, IL.
      7225 W 151st Street, Orland Park, IL 60462
      View Details
    • $449,500

      Prime Corner Parcel in Orland

      Highly visible 1.64-acre corner parcel suitable for various commercial uses.
      11200 183rd Street, Orland Park, IL 60467
      View Details
    • $400,000

      Orland Park Commercial Property For Sale

      2600 sq ft commercial property on busy 159th Street.
      7620 W 159th Street, Orland Park, IL 60462
      View Details
    • $99,000

      Established Dog Grooming Business

      Turnkey dog grooming business for sale in Orland Park.
      999 Main Street, Orland Park, IL 60467
      View Details
    • $450,000

      Orland Park Commercial Land

      Commercial land available in Orland Park, Illinois.
      56 Orland Square Drive, Orland Park, IL 60462
      View Details
    • $1,800,000

      Orland Park 11.2-Acre Estate

      Rare 11.2-acre estate with development potential in Orland Park.
      9910 W 167th Street, Orland Park, IL 60467
      View Details
    • $224,900

      Orland Park 1-Acre Lot

      Desirable Orland Park lot to build your dream home.
      10932 W 151st Street lot: 22, Orland Park, IL 60467
      View Details
    • $299,900

      Orland Park Land Opportunity

      2+/- acres in the heart of Orland Park, Illinois.
      14355 S 94th Avenue, Orland Park, IL 60462
      View Details
    • $749,000
      5,500 SF

      Turnkey Medical Building in Orland

      Fully built-out medical building ideal for health practice or professional.
      10751 163rd Place, Orland Park, IL 60467
      View Details
    • $799,900
      7,500 SF

      Orland Park Flex Space Investment

      Two units: office/warehouse and pure warehouse space available.
      15426-15428 S. 70th Court, Orland Park, IL 60462
      View Details
    • $279,000

      Orland Park Vacant Land Opportunity

      Prime location vacant land, build your dream home or homes.
      16825 Wolf Road, Orland Park, IL 60467
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with high visibility and mixed-use zoning.
    Where is this commercial land located?
    The property is located at 15900 94th Ave Orland Park, IL.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Strategic location at hard corner of lighted intersection; Strong traffic counts (45,000+ vpd); Major retailers in immediate area
    (312) 343-1800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Peter Block
    Peter Block
    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!