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

    5 Plainfield Rd Crest Hill, IL 60403

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $245,000

    1.4 acres of cleared land zoned commercial B3.

    Lot size:
    1.40 Acres

    Property Features for 5 Plainfield Rd

    General Information

    Standard status
    Contract
    Lot size
    1.40 Acres

    We can help!

    Listing Contact
    Ken Thomson
    Source: Corcoran

    Listing Agency: CENTURY 21 CIRCLE Listing Agent: Ken Thomson

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

    Learn more

    Overview

    Cleared Land in T.I.F. District

    This property features 1.4 acres of cleared, level land, consisting of two adjacent lots zoned commercial B3. It is located in Crest Hill's T.I.F. District with access off Plainfield Road. The site has been presented to and reviewed in detail by Crest Hill's Economic Development Committee, which was receptive to a multi-story vertical self-storage use at this site. Preliminary site plans are available for twin 55x200 buildings, each with 11,000 square feet, and a total of 48 parking spaces. Abundant other uses are available in the B3 district. Daily traffic counts are approximately 20,000 on Plainfield Road and 16,700 on Larkin Avenue. Water main, sanitary sewer, and detention are already available to the site.
    Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Crest Hill
    County
    Will
    State
    Illinois
    Longitude
    -88.092974
    Latitude
    41.532354

    Nearby Similar for Sale

    • $1,170,000
      0.92 Acres

      Shell Gas Station For Sale

      Operating gas station with real estate, business, and licenses.
      2350 Plainfield Rd, Crest Hill, IL 60403
      View Details
    • $245,000
      11,000 SF

      Crest Hill Land For Sale

      1.4 acres of commercially zoned land in Crest Hill, IL.
      lot 4 & 5 Plainfield Rd, Crest Hill, IL 60403
      View Details
    • $585,000

      High-End Office Condo For Sale

      Versatile office condo with high-end finishes and excellent accessibility.
      16007 Executive Dr, Crest Hill, IL 60403
      View Details
    • Contact for pricing

      Redevelopment Opportunity on Hard Corner

      Former village hall, perfect for food and restaurant users.
      1610 Plainfield Rd, Crest Hill, IL 60435
      View Details
    • $2,100,000

      Halal Slaughterhouse and Retail Markets

      Vertically integrated Zabiha Halal meat operation with expansion potential.
      15921 Weber Rd, Crest Hill, IL 60403
      View Details
    • $300,000
      0.15 Acres

      Crest Hill Bar/Restaurant Business

      Thriving bar and restaurant business for sale in Crest Hill.
      1723 N Center St, Crest Hill, IL 60403
      View Details
    • $1,300,000
      22,000 SF

      Crest Hill Lanes: Bowling Alley Investment

      Turn-key bowling alley, restaurant, bar; high traffic location.
      905 Theodore St, Crest Hill, IL 60403
      View Details

    FAQs

    What type of property is this?
    Self storage facility - 1.4 acres of cleared land zoned commercial B3.
    Where is this self storage facility located?
    The property is located at 5 Plainfield Rd Crest Hill, IL.
    What is the asking price?
    The asking price for this property is $245,000.
    What are key features of this property?
    This property features: - Approved for multi-story vertical self-storage.; - Located in Crest Hill T.I.F. District.; - **1.4 cleared, level acres zoned commercial B3.**
    (815) 325-9918
    Request Owner's contact information
    5 Plainfield Rd Crest Hill, IL 60403
    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.
    5 Plainfield Rd
    Crest Hill, IL 60403
    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
    5 Plainfield Rd Crest Hill, IL 60403
    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
    Ken Thomson
    Real Estate License ID: 475109316
    (815) 325-9918 (815) 730-1199 (708) 398-6400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!