Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    153 PARKWAY Drive, Chatham, IL 62629

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    LAND - Chatham, IL

    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 11:06 pm

    Property Features for 153 PARKWAY Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    28-13.0-298-014

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    See Tax Records
    Tax Annual Amount
    326

    Utilities

    Utilities
    Natural Gas Available
    Water source
    Public

    We can help!

    Listing Contact
    Crystal Commean

    Listing agent Crystal Commean

    Listing office RE/MAX Professionals 2667 Farragut Drive, Springfield, IL

    Listing date Jun 5, 2026

    MLS# CA1044257 Listing URL

    Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chatham
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.708706
    Latitude
    39.662536

    Nearby Similar for Sale

    • $235,000
      2,000 SF

      Chatham Commercial Building For Sale

      Move-in ready commercial building in Chatham with versatile layout.
      200 W WALNUT Street, Chatham, IL 62629
      View Details
    • $689,900

      Chatham Commercial Property For Sale

      Commercial property in the heart of Chatham, Illinois, for sale.
      215-221 N MAIN Street, Chatham, IL 62629
      View Details
    • $425,000

      Versatile Commercial Property in Chatham

      Commercial property with redevelopment potential in the heart of Chatham.
      108 MULBERRY Street, Chatham, IL 62629
      View Details
    • $395,000

      Versatile Commercial Building in Chatham

      Excellent condition, flexible layout, ideal for diverse business uses.
      11 COTTONWOOD Drive, Chatham, IL 62629
      View Details
    • $225,000

      Commercial Building in Chatham, Illinois

      Strip-style building with four units and high visibility.
      602 E WALNUT Street, Chatham, IL 62629
      View Details
    • $299,000
      141,382 SF

      Chatham Commercial Lots Available

      Commercial lots for sale in rapidly growing Chatham, Illinois.
      135 Independence Drive, Chatham, IL 62629
      View Details
    • $399,000
      171,190 SF

      Chatham Commercial Lots for Sale

      Commercial lots available in rapidly growing Chatham, Illinois.
      71 Plummer Boulevard, Chatham, IL 62629
      View Details
    • $374,900
      266,639 SF

      Chatham Commercial Lots for Sale

      Commercial lots available in rapidly growing Chatham, Illinois.
      298 Independence Drive, Chatham, IL 62629
      View Details
    • $65,000

      Residential Lot in Chatham, IL

      Buildable lot in Manor Hill II subdivision, Chatham School District.
      416 Manor Hill Drive, Chatham, IL 62629
      View Details
    • $65,000

      Residential Lot in Chatham, IL

      Buildable lot in Manor Hill II subdivision, Chatham School District.
      405 Manor Hill Drive, Chatham, IL 62629
      View Details
    • $65,000

      Residential Lot in Chatham, IL

      Buildable level lot in Manor Hill II subdivision, Chatham School District.
      413 Manor Hill Drive, Chatham, IL 62629
      View Details
    • $65,000

      Residential Lot in Chatham, IL

      Buildable lot in Manor Hill II subdivision, Chatham School District.
      400 Manor Hill Drive, Chatham, IL 62629
      View Details

    FAQs

    Where is this land located?
    The property is located at 153 PARKWAY Drive Chatham, IL.
    What is the asking price?
    The asking price for this property is Off market.
    (217) 685-9575
    We can help!
    Listing Contact
    Crystal Commean
    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
    153 PARKWAY Drive, Chatham, IL 62629
    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!