Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lemont Commercial Land For Sale Title is generated by Realmo AI

    15980 W 127th St, Lemont, IL 60439

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2.23 acre corner lot near I-355 on-ramp.

    Type:LAND
    Lot size:
    2.30 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    29
    Last Refresh:
    May 8 at 3:40 am

    Property Features for 15980 W 127th St

    General Information

    Standard status
    Active
    Lot size
    2.30 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Nicholas Manganais
    Nicholas Manganais

    Listing agent Nicholas Manganais

    Listing office SVN | Chicago - Corporate

    Listing date Apr 28, 2026

    Source Moodyscre

    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 SVN | Chicago - Corporate

    HighLights

    • Zoned B‑3
    • ±2.23 Acres
    • Corner Lot
    • Location is close to the new on‑ramp to I‑355
    • Utilities at Site

    Overview

    This commercial land, zoned B-3, offers approximately 2.23 acres. The property is a corner lot with utilities available at the site. Its location provides proximity to the new on-ramp to I-355.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lemont
    County
    Cook
    State
    Illinois
    Longitude
    -88.014508
    Latitude
    41.656276

    Nearby Similar for Sale

    • $700,000

      Established Deli Business in Lemont

      Profitable deli business with high visibility and income potential.
      818 State Street, Lemont, IL 60439
      View Details
    • $349,999

      Lemont Wooded Lot Opportunity

      1.61-acre wooded lot in Lemont's Cache Lakes area.
      1365 Gordon Lane, Lemont, IL 60439
      View Details
    • $249,900

      Lemont Land Development Opportunity

      Unincorporated Lemont land parcel with development potential near 127th Street.
      1201 Leinster Drive, Lemont, IL 60439
      View Details
    • $1,000,000

      Vacant Land in Lemont, Illinois

      2.3-acre vacant land site zoned for commercial retail uses.
      15980 W 127th St | Lemont, IL 60439
      View Details
    • $159,900

      Premium Lots in Prime Location

      Four premium lots available in a prime Lemont location.
      19W720 109th Street lot: 5, Lemont, IL 60439
      View Details
    • $159,900

      Premium Lots in Prime Location

      Four premium lots in a vibrant Lemont location.
      19W720 109th Street lot: 6, Lemont, IL 60439
      View Details
    • $289,000

      Land in Desirable Lemont Community

      Build your dream home on approximately one acre of land.
      12915 Archer Avenue lot: #2, Lemont, IL 60439
      View Details
    • $109,900

      Residential Land in Lemont, Illinois

      Wooded 0.52 acre lot with river valley views.
      19W680 Dystrup Road lot: 12, Lemont, IL 60439
      View Details
    • $305,000

      Downtown Lemont Land Opportunity

      Land for sale in Lemont's Downtown District.
      37 Stephen Street, Lemont, IL 60439
      View Details
    • Contact for pricing
      2,000 SF

      1.56 Acre Site with Building

      1.56-acre property with 2,000 SF building, ideal for logistics.
      11343 Joliet Road, Lemont, IL 60439
      View Details
    • $250,000

      Lemont Land Package For Sale

      Two residential lots in Lemont, close to amenities.
      19w760 Bluff Road, Lemont, IL 60439
      View Details
    • $640,000

      Land Available in Lemont, Illinois

      Land for sale in Lemont, Illinois, Cook County.
      15976 132nd Street, Lemont, IL 60439
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.23 acre corner lot near I-355 on-ramp.
    Where is this commercial land located?
    The property is located at 15980 W 127th St Lemont, IL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Zoned B‑3; ±2.23 Acres; **Corner Lot**
    (708) 205-5383 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nicholas Manganais
    Nicholas Manganais
    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
    15980 W 127th St, Lemont, IL 60439
    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!