Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    W 191St St Mokena, IL 60448

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    17-acre land parcel suitable for a 153,000 SF building.

    Property size:
    17 SF
    Lot size:
    17.81 Acres

    Property Features for W 191St St

    General Information

    Size
    17 SF
    Lot size
    17.81 Acres

    We can help!

    Listing Contact
    Dylan Maher
    Source: Lee-associates

    Listing Agent: Dylan Maher

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

    Learn more

    Overview

    Mokena Land Parcel For Sale

    This 17-acre land parcel is located in Mokena, IL. According to current plans, a 153,000 square foot building is proposed for the site.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Mokena
    County
    Will
    State
    Illinois
    Longitude
    -87.8920892
    Latitude
    41.541758

    Nearby Similar for Sale

    • $675,000
      3.25 Acres

      High-Quality Office Condo in Mokena

      Class A office space with convenient access and scenic views.
      10020 W 190Th Pl, Mokena, IL 60448
      View Details
    • $475,000
      0.69 Acres

      Mokena Warehouse Condo with Office

      Modern warehouse condo with office space near I-80.
      9200 191St St, Mokena, IL 60448
      View Details
    • $1,100,000
      0.28 Acres

      Mokena Retail Building Opportunity

      Free-standing retail building near Metra station in Mokena, IL.
      11120 Front St, Mokena, IL 60448
      View Details
    • $300,000

      Established Restaurant Business for Sale

      Turnkey restaurant with catering brands and loyal customer base.
      19901 Wolf Rd, Mokena, IL 60448
      View Details
    • $374,873
      2,200 SF

      Spacious Townhome in Savannah Landings

      Two-story townhome with first-floor master suite and unfinished basement.
      11151 188Th Pl, Mokena, IL 60448
      View Details
    • $325,000
      1,921 SF

      Mokena Townhome with Flexible Layout

      Well-cared-for townhome with potential for a third bedroom.
      9702 Chelsea Pl, Mokena, IL 60448
      View Details
    • $2,699,000
      7,613 SF

      Retail/Office Building on US Route

      7,613 SF retail/office building with high-end buildout for sale.
      19214 S La Grange Rd, Mokena, IL 60448
      View Details
    • $10,920,000
      100,000 SF

      Mokena Industrial Property For Sale

      100,000 SF industrial property with convenient I-80 access.
      18761 S 90Th Ave, Mokena, IL 60448
      View Details
    • Contact for pricing
      153,000 SF

      Proposed Industrial Building For Sale

      Proposed 153,000 sq ft industrial building for sale.
      W 191St St, Mokena, IL 60448
      View Details
    • $1,350,000
      6,657 SF

      Mokena Office Building: Prime Investment

      High-Cap Rate Office Suites, Fully Furnished
      10060-10066 190Th Pl, Mokena, IL 60448
      View Details
    • $388,600
      8,000 SF

      Mokena Office Condo - Prime Location

      8,000 sq ft Office Condo, I-80 Access
      9980 190Th St, Mokena, IL 60448
      View Details
    • $388,400
      8,000 SF

      Mokena Office Space: 8,000 sq ft

      Prime Mokena office, great location, ample parking.
      9980 190Th St, Mokena, IL 60448
      View Details

    FAQs

    What type of property is this?
    Land - 17-acre land parcel suitable for a 153,000 SF building.
    Where is this land located?
    The property is located at W 191St St Mokena, IL.
    What are key features of this property?
    This property features: - 153,000 SF building proposed; - Site is available for development
    (331) 262-7982
    Request Owner's contact information
    W 191St St Mokena, IL 60448
    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.
    W 191St St
    Mokena, IL 60448
    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
    W 191St St Mokena, IL 60448
    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
    Dylan Maher
    (331) 262-7982
    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.