Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime 5-Acre Corner Parcel Title is generated by Realmo AI

    870 Simons Road, Plainfield, IL 60585

    View on Map
    Claim this Listing
    For Sale
    $599,900

    5-acre corner lot with high potential in fast-growing area.

    Type:Land
    Lot size:
    5.00 Acres
    Added:
    Jan 2, 2025
    Days on Market:
    519
    Last Refresh:
    Mar 13 at 6:56 pm

    Property Features for 870 Simons Road

    General Information

    Standard status
    Active
    Lot size
    5.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Joseph Frieders

    Listing agent Joseph Frieders License #471013193

    Listing office Swanson Real Estate

    Listing date Jan 2, 2025

    Source Compass

    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 Swanson Real Estate

    HighLights

    • Prime 5‑acre corner lot location on busy Simons Road and Timber Wood Way.
    • High‑potential location for various ventures (stores, gas station, multi‑family housing).
    • Located in a fast‑growing area at the edge of Plainfield and Oswego.
    • Across the street from the Oswego Fire Department.
    • Oswego Park District owns adjoining land to the west.
    • Great land proportions.

    Overview

    This 5-acre corner parcel is located on Simons Road at the Timber Wood Way street entrance to the Grande Park Subdivision. The lot is positioned across the street from the Oswego Fire Department, and the Oswego Park District owns the adjoining land to the west. Situated in a fast-growing area at the edge of Plainfield and Oswego, the location offers potential for various ventures, including stores, a gas station, or multi-family housing.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Auto Repair Shop Gym & Fitness Center Department Store Bar & Pub Daycare Center Bakery Cosmetic Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Will
    State
    Illinois
    Longitude
    -88.2079
    Latitude
    41.6553

    Nearby Similar for Sale

    • $484,999
      2,800 SF

      Charming Log Cabin Commercial Property

      Unique commercial property with two buildings and modern updates.
      16143 S Lincoln Highway, Plainfield, IL 60544
      View Details
    • $2,586,000
      48,256 SF

      Triple-Net Drive-Through Restaurant Ground Lease

      New 7 Brew NNN ground lease with 15-year term and corporate guarantee, positioned as a Target outparcel.
      12740 S Rte 59, 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
    • $104,900

      Prime Land in Plainfield, IL

      Corner lot with commercial potential in growing Plainfield location.
      23625 W Main Street, Plainfield, IL 60544
      View Details
    • $700,000

      Industrial Land in Arrowhead Park

      Two parcels totaling 1.88 acres in Arrowhead Industrial Park.
      25501 W Wolfs Crossing Road, Plainfield, IL 60585
      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
    • $239,900

      Residential Townhome Lots Development Opportunity

      1.95 acres with 22 platted townhome lots.
      W South End Road lot: #3, Plainfield, IL 60544
      View Details
    • $900,000

      B-3 Zoned Commercial Land Opportunity

      Commercial land for sale with B-3 zoning in the Plainfield area, suited for future retail-focused development plans.
      15630 Joliet Rd, Plainfield, IL 60544
      View Details
    • $125,000

      Residential Land in Lakelands Subdivision

      Spacious lot to build your dream home with water views.
      13111 S Lake Mary Drive, Plainfield, IL 60585
      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
    • $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 - 5-acre corner lot with high potential in fast-growing area.
    Where is this commercial land located?
    The property is located at 870 Simons Road Plainfield, IL.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Prime 5‑acre corner lot location on busy Simons Road and Timber Wood Way.; High‑potential location for various ventures (stores, gas station, multi‑family housing).; Located in a fast‑growing area at the edge of Plainfield and Oswego.
    (815) 693-4958
    We can help!
    Listing Contact
    Joseph Frieders
    Real Estate License ID: 471013193
    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

    Thank You for Inquiry
    870 Simons Road, Plainfield, IL 60585
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!