Add Listing
    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

    3.37AC Lockport Street Plainfield, IL 60544

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,685,000

    3.37 AC retail outlots for sale in Plainfield, Illinois.

    Type:Land or Vacant Lot
    Lot size:
    3.37 Acres
    Added:
    May 9, 2025
    Days on Market:
    351
    Last Refresh:
    Apr 6 at 3:20 am

    Property Features for 3.37AC Lockport Street

    General Information

    Standard status
    Active
    Lot size
    3.37 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    JONATHAN WALDRON

    Listing agent JONATHAN WALDRON

    Listing office JOHN GREENE COMMERCIAL

    Listing date May 9, 2025

    Source Corcoran

    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 JOHN GREENE COMMERCIAL

    Overview

    Retail Outlots on Lockport Street

    The property consists of 3.37 acres of commercial land available for sale. It is located on Lockport Street, west of Drauden Road, in Plainfield, Illinois. The site is zoned B-3 (Highway Business District) and is divisible down to 0.5 acres. The property is intended for retail use.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Plainfield
    County
    Will
    State
    Illinois
    Longitude
    -88.24
    Latitude
    41.6172

    Nearby Similar for Sale

    • $484,999

      Charming Log Cabin Commercial Property

      Unique commercial property with two buildings and modern updates.
      16143 S Lincoln Highway, Plainfield, IL 60544
      View Details
    • $699,999

      Established Towing Company for Sale

      Turnkey towing company with equipment, clients, and contracts included.
      22544 W 143rd Street, Plainfield, IL 60544
      View Details
    • $109,900

      Prime Land in Plainfield, IL

      Corner lot with commercial potential in Plainfield, Illinois.
      23625 W Main Street, Plainfield, IL 60544
      View Details
    • $1,325,000

      Plainfield Multifamily Investment Opportunity

      Six-unit apartment building near downtown Plainfield and high school.
      15412 S James Street, Plainfield, IL 60544
      View Details
    • $239,900

      Residential Townhome Lots Development Opportunity

      1.95 acres with 22 platted townhome lots in Plainfield.
      W South End Road lot: #3, Plainfield, IL 60544
      View Details
    • $1,150,000

      Historic Church with Redevelopment Potential

      Multi-structure property with redevelopment potential in downtown Plainfield.
      23913 W Lockport Street, Plainfield, IL 60544
      View Details
    • $900,000

      Plainfield Commercial Land For Sale

      6.86 acre commercial land available in Plainfield, Illinois.
      23700 W Getson Avenue, Plainfield, IL 60544
      View Details
    • $99,000

      Residential Land in River Point

      Corner lot in River Point Estates, Plainfield, ready to build.
      24825 Barolo Drive, Plainfield, IL 60586
      View Details
    • $130,000

      Residential Lot in Plainfield, IL

      1.09 acre R1 zoned lot ready for development.
      8 W Lockport Street, Plainfield, IL 60544
      View Details
    • $868,000

      Commercial Property in Plainfield, IL

      Commercial property for sale in Plainfield, Illinois.
      25553 W Wolfs Crossing Road, Plainfield, IL 60585
      View Details
    • $1,250,000
      3,900 SF

      Automotive Service Center For Sale

      Established automotive service center with net lease and annual increases.
      23846 W 135th St, Plainfield, IL 60544
      View Details
    • $649,000
      1,816 SF

      Remodeled Office Condo For Sale

      Impeccably remodeled office condo in Plainfield's Riverwalk Court.
      24020 W Riverwalk Court #114, Plainfield, IL 60544
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.37 AC retail outlots for sale in Plainfield, Illinois.
    Where is this commercial land located?
    The property is located at 3.37AC Lockport Street Plainfield, IL.
    What is the asking price?
    The asking price for this property is $1,685,000.
    What are key features of this property?
    This property features: Retail outlots available for purchase.; Divisible to suit your needs, starting at 0.5 AC.; Situated on Lockport Street, west of Drauden Road.
    (630) 229-2290
    We can help!
    Listing Contact
    JONATHAN WALDRON
    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!