Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Building with Drive-Thru Title is generated by Realmo AI

    16732 West 159th Street, Lockport, IL 60441

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

    3,620 SF freestanding building with drive-thru in Lockport, IL.

    Type:Retail
    Property size:
    3,620 SF
    Added:
    Mar 25, 2026
    Days on Market:
    58
    Last Refresh:
    Mar 18 at 8:23 am

    Property Features for 16732 West 159th Street

    General Information

    Standard status
    Active
    Size
    3,620 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Les Kristof
    Les Kristof

    Listing agent Les Kristof

    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

    HighLights

    • Freestanding 3,620 SF building with drive‑thru lanes and windows.
    • Shared access with Walgreens from two streets (159th Street and Farrell Road).
    • Immediate access to I‑55.
    • Close proximity to Lockport Township High School, Lewis University, and Downtown Lockport.
    • Low taxes in Will County.
    • Jewel‑Osco, Aldi, and Walmart Supercenter in the surrounding area.

    Overview

    The property is a +/- 3,620 SF freestanding building. It is a former bank building with drive-thru lanes and windows still in-tact. The property has shared access with Walgreens from two streets, 159th Street and Farrell Road. It offers immediate access to I-55 and benefits from low taxes in Will County. The property is located in close proximity to Lockport Township High School, Lewis University and Downtown Lockport. Jewel-Osco, Aldi, and Walmart Supercenter are in the surrounding area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Will
    State
    Illinois
    Longitude
    -87.9952
    Latitude
    41.6004

    Nearby Similar for Lease

    • Contact for pricing

      Lockport Office Space Available

      First floor office space for rent in Lockport, Illinois.
      16612 W 159th Street, Lockport, IL 60441
      View Details
    • Contact for pricing
      35,039 SF

      Lockport Warehouse Space Available

      35,039 SF warehouse space with office and ample parking.
      14407 S Gougar Road, Lockport, IL
      View Details
    • Contact for pricing
      62,598 SF

      Modern Warehouse Sublease Opportunity

      62,598 SF warehouse space available for sublease in Lockport.
      16410 John Lane Crossing, Lockport, IL 60441
      View Details
    • Contact for pricing
      363,224 SF

      Lockport Warehouse with I-355 Visibility

      363,224 SF warehouse space with premier business park location.
      14746 S Gougar Road, Lockport, IL 60491
      View Details
    • Contact for pricing

      Retail Space in Multi-Tenant Building

      Small retail space available for rent in Lockport, Illinois.
      West 159th Street | Lockport, IL 60441
      View Details
    • $17 SF/Yr
      13,000 SF

      Lockport Retail or Office Space

      Office or retail space with ample parking and high visibility.
      610-942 N State St, Lockport, IL
      View Details
    • $35 SF/Yr
      3,000 SF

      Retail Space in Planned Development

      Retail property available for lease in Lockport, Illinois.
      902-904 S State St, Lockport, IL
      View Details
    • Contact for pricing
      228,690 SF

      I-355 Corridor Warehouse Sublease

      62,598 SF warehouse sublease in the I-355 corridor.
      16410 John Lane Crossing, Lockport, IL 60441
      View Details
    • Contact for pricing
      94,715 SF

      Proposed Class A Industrial Warehouse

      Proposed 94,175 SF Class A industrial warehouse for rent.
      16801 West Prologis Parkway, Lockport, IL, 60441
      View Details
    • Contact for pricing
      7,460 SF

      Retail Space Near I-355

      Retail space shadow-anchored by Walmart & Jewel/Osco near I-355.
      W 159th St, Lockport, IL
      View Details
    • Contact for pricing
      363,224 SF

      Lockport Warehouse with I-355 Access

      363,224 SF warehouse with immediate I-355 access.
      14407 S Gougar Rd, Lockport, IL
      View Details
    • Contact for pricing

      Lockport Distribution/Industrial Space Available

      Distribution and industrial properties available for rent in Lockport, IL.
      Prime Boulevard, Lockport, IL 60441
      View Details

    FAQs

    What type of property is this?
    Bank - 3,620 SF freestanding building with drive-thru in Lockport, IL.
    Where is this bank located?
    The property is located at 16732 West 159th Street Lockport, IL.
    What are key features of this property?
    This property features: Freestanding 3,620 SF building with drive‑thru lanes and windows.; Shared access with Walgreens from two streets (159th Street and Farrell Road).; Immediate access to I‑55.
    (630) 573-1282
    We can help!
    Listing Contact
    Les Kristof
    Les Kristof
    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
    16732 West 159th Street, Lockport, IL, 60441
    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!