Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Industrial Land Near Major Interstates Title is generated by Realmo AI

    1750 E Joe Orr Road, Chicago Heights, IL 60411

    View on Map
    Claim this Listing
    For Sale
    $715,000

    Land suitable for truck parking near I-294, I-94, I-80, I-57.

    Type:Land or Vacant Lot
    Lot size:
    4.88 Acres
    Added:
    Feb 12, 2025
    Days on Market:
    479
    Last Refresh:
    Apr 5 at 9:51 pm

    Property Features for 1750 E Joe Orr Road

    General Information

    Standard status
    Active
    Lot size
    4.88 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    ALEKSANDAR ILIC

    Listing agent ALEKSANDAR ILIC License #471020213

    Listing office LX REALTY, INC

    Listing date Feb 12, 2025

    Source Corcoran

    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 LX REALTY, INC

    HighLights

    • Heavy industrial zone (M‑2) allowing semi‑truck parking, with plans for 61 spaces.
    • Excellent location with immediate access to I‑294, I‑94, I‑80, and I‑57.
    • High income potential: Rent proforma of $42,000 monthly per lot.
    • Proximity to major freight and industrial hubs including ABF Freight, FedEx Freight and more.
    • Traffic impact study for proposed truck parking is already completed.
    • No wetlands on the property.

    Overview

    This property is zoned heavy industrial (M-2), which allows semi-truck parking. The location offers convenient access to I-294, I-94, I-80, and I-57. A traffic impact study has been completed for a proposed truck parking facility. Plans are in place for 61 truck parking spaces. The site contains no wetlands. The location is near ABF Freight (2 minutes), FedEx Freight (5 minutes), XPO and Ford Motor Co. plant (6 minutes), and United Rentals. The property can be purchased as part of a package deal for 7 lots, each with plans for 4.88 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Truck terminals

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.5732
    Latitude
    41.5206

    Nearby Similar for Sale

    • $649,000

      Updated Office Building with Parking

      Two-building office property with updated interiors, flexible suites, and a dedicated 20-space parking lot along US-30.
      44 W Lincoln Highway, Chicago Heights, IL 60411
      View Details
    • $275,000

      Historic Queen Anne Victorian Triplex

      Legal 3-flat in Chicago Heights' Historic District.
      51 W 21st Street, Chicago Heights, IL 60411
      View Details
    • $850,000

      Multi-Tenant Industrial Building For Sale

      Light industrial building with fenced yard, ideal for owner-user.
      3102-3108 Louis Sherman Drive Chicago Heights, IL 60475
      View Details
    • $699,900
      6,600 SF

      Updated Office Property on Lincoln Highway

      Recently updated office property with flexible layout and high visibility.
      44 W Lincoln Highway, Chicago Heights, IL 60411
      View Details
    • $175,000

      Three-Unit Building in Chicago Heights

      Fully rented three-unit building, a great investment opportunity.
      154 E 22nd Street, Chicago Heights, IL 60411
      View Details
    • $230,000

      Rehabbed Chicago Heights Multifamily Property

      Fully rehabbed 2-flat in Chicago Heights, turnkey investment opportunity.
      238 E 22 Street, Chicago Heights, IL 60411
      View Details
    • $295,900

      Updated Duplex in Chicago Heights

      Two-unit property with recent updates and investment potential.
      146 E 24th Street, Chicago Heights, IL 60411
      View Details
    • $370,000

      Updated Multi-Unit in Chicago Heights

      Well-maintained four-unit property with updated interiors and modern amenities.
      489 Hickory Street, Chicago Heights, IL 60411
      View Details
    • $152,900

      Well-Maintained Chicago Heights Multi-Family

      Two-unit property ideal for owner-occupants or investors.
      1207 Emerald Avenue, Chicago Heights, IL 60411
      View Details
    • $235,000

      Chicago Heights Multifamily Property

      Two-unit property with potential for investment or owner-occupancy.
      1308 Vincennes Avenue, Chicago Heights, IL 60411
      View Details
    • $171,000

      Chicago Heights Multi-Family Property

      Multi-family property for sale in Chicago Heights, Illinois.
      1660 Aberdeen Street, Chicago Heights, IL 60411
      View Details
    • $249,750

      Turnkey Restaurant and Salon Building

      Mixed-use building with restaurant and salon on high-traffic street.
      849 S Halsted Street, Chicago Heights, IL 60411
      View Details

    FAQs

    What type of property is this?
    Truck terminal - Land suitable for truck parking near I-294, I-94, I-80, I-57.
    Where is this truck terminal located?
    The property is located at 1750 E Joe Orr Road Chicago Heights, IL.
    What is the asking price?
    The asking price for this property is $715,000.
    What are key features of this property?
    This property features: Heavy industrial zone (M‑2) allowing semi‑truck parking, with plans for 61 spaces.; Excellent location with immediate access to I‑294, I‑94, I‑80, and I‑57.; High income potential: Rent proforma of $42,000 monthly per lot.
    (312) 933-7055
    We can help!
    Listing Contact
    ALEKSANDAR ILIC
    Real Estate License ID: 471020213
    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
    1750 E Joe Orr Road, Chicago Heights, IL 60411
    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!