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    1500 W Lincoln Hwy New Lenox, IL 60451

    For Lease
    $10 SF/Yr

    18.76 acres for redevelopment with existing 84,180 SF building.

    Property Features for 1500 W Lincoln Hwy

    General Information

    Standard status
    Active

    Building Details

    Year built
    1977

    Source: COLDWELL BANKER REALTY Agent GEORGE CHANDLER

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

    Overview

    Redevelopment Opportunity Near I-80 Exit

    This 18.76-acre property in New Lenox is available for redevelopment. It is located next to an I-80 exit and has frontage on Lincoln Highway. The site includes an existing 84,180-square-foot building, formerly a KMart, which can be modified or expanded by approximately 40,000 square feet to a total of approximately 124,180 square feet. Utilities including gas, water, electric, sewer, and phone are available at the property and are functioning in the existing building. Out-lots are available for additional structures. The current zoning is C3, which permits uses such as a hotel, department store, indoor recreation/sports area, auto sales, boat or RV dealer, and medical services. Mixed-use development and potentially a job training center are also permitted. The existing parking lot accommodates over 500 cars. Traffic counts are 75,000 on I-80 and 16,900 on Lincoln Highway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness

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

    Similar Places Nearby

    Rochelle Commons Shopping Center

    Location Insight

    • Map
    • Local Demand
    City
    New Lenox
    County
    Will
    State
    Illinois
    Longitude
    -87.9963098
    Latitude
    41.5184169

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    FAQs

    What type of property is this?
    Shopping center - 18.76 acres for redevelopment with existing 84,180 SF building.
    Where is this shopping center located?
    The property is located at 1500 W Lincoln Hwy New Lenox, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - 18.76 acres ready for redevelopment with **high visibility** next to I-80 exit and frontage on Lincoln Highway.; - All utilities (Gas, Water, Electric, Sewer, Phone) are available at the property.; - Existing **84,180 sq ft building** (former KMart) is modifiable and expandable by 40,000 sq ft to approximately 124,180 sq ft.
    (708) 460-4900
    Request Owner's contact information
    1500 W Lincoln Hwy New Lenox, IL 60451
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    New Lenox, IL 60451
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    Realmo Value Estimation

    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.

    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.

    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
    1500 W Lincoln Hwy New Lenox, IL 60451
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