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

    1555 WEST LAKE STREET Addison, IL 60101

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land near high-traffic intersection and I-355 interchange.

    Type:Land
    Property size:
    2 SF
    Lot size:
    2.18 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    8
    Last Refresh:
    Mar 18 at 8:23 am

    Property Features for 1555 WEST LAKE STREET

    General Information

    Standard status
    Active
    Size
    2 SF
    Lot size
    2.18 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Mario Melone
    Mario Melone

    Listing agent Mario Melone License #475150504

    Listing office CBRE | Chicago

    Listing date Mar 25, 2026

    Source Cbre

    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 CBRE | Chicago

    Overview

    Commercial Outlots Near I-355

    Multiple outlots are available, sized at approximately 1.00 acre and 1.18 acres. The property is situated near the intersection of Lake Street and Rohlwing Road, an area with significant traffic. Its location near the I-355 and Lake Street interchange exposes it to over 140,000 vehicles daily. Nearby retailers include Walmart, Sam’s Club, XSport Fitness, ALDI, Goodwill, Chamberlain University College of Nursing, and Hampton Inn & Suites.
    Location Intelligence

    Current Use by Public Records

    Marcus Addison Cinema Cinema

    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
    Addison
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0265151
    Latitude
    41.9466784

    Nearby Similar for Sale

    • $749,900

      Addison Commercial Building on Lake

      High-visibility commercial building with parking and development potential.
      991 W Lake Street, Addison, IL 60101
      View Details
    • Contact for pricing

      Retail Units in Addison, IL

      Retail units in high-traffic area near Army Trail Road.
      430 Swift Road unit: A, Addison, IL 60101
      View Details
    • $1,500,000

      Addison Commercial Building For Sale

      Freestanding brick building with office and warehouse space.
      814 S Westwood Avenue, Addison, IL 60101
      View Details
    • $399,900

      Addison Storefronts: Prime Investment

      Two fully occupied storefronts in Downtown Addison, ideal for investors.
      329-31 N Addison Road, Addison, IL 60101
      View Details
    • $88,000

      Addison, IL Land For Sale

      Commercial land available in Addison, Illinois.
      437 E Lorraine Avenue, Addison, IL 60101
      View Details
    • $999,999

      Addison Land For Sale

      Located in the heart of Addison, zoned B2.
      133 E Lake Street, Addison, IL 60101
      View Details
    • Contact for pricing
      25,687 SF

      Industrial Facility with Expansion Potential

      Well-located industrial facility with office space and expansion potential.
      777 Factory Road, Addison, IL 60101
      View Details
    • $950,000

      Addison, IL Development Opportunity

      3.71 acre commercial land for hotel/restaurant development.
      Swift Rd, Addison, IL
      View Details
    • $275,000

      Addison Vacant Land Opportunity

      1.66 acres of vacant land in Addison Township.
      426 W Fullerton Avenue, Addison, IL 60101
      View Details
    • Contact for pricing
      14,131 SF

      Addison Industrial Building with Office

      14,131 SF industrial building with 9,700 SF office space.
      223 W Interstate Rd, Addison, IL 60101
      View Details
    • Contact for pricing
      75,020 SF

      Office/Flex Space with Dock Door

      Built-out office/flex space featuring a dock door and high ceilings.
      2171 West Executive Drive, Addison, IL 60101
      View Details
    • $325,000

      Spacious Lakeview Place Penthouse Unit

      Two-story penthouse with garage parking in Lakeview Place.
      1259 W Lake Street #304, Addison, IL 60101,
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land near high-traffic intersection and I-355 interchange.
    Where is this commercial land located?
    The property is located at 1555 WEST LAKE STREET Addison, IL.
    What are key features of this property?
    This property features: High traffic location at Lake Street and Rohlwing Road.; Proximity to I‑355 interchange with over 140,000 vehicles per day.; Multiple outlots available: +1.00 Acre and +1.18 Acres.
    (630) 573-7112
    We can help!
    Listing Contact
    Mario Melone
    Mario Melone
    Real Estate License ID: 475150504
    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!