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    19150 S 88Th Ave Mokena, IL 60448

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    For Sale
    Contact for pricing

    High-visibility commercial property in Mokena, Illinois, near major traffic routes.

    Property size:
    7,407 SF
    Lot size:
    0.18 Acres

    Property Features for 19150 S 88Th Ave

    General Information

    Standard status
    Active
    Zoning
    C-1A: General Commercial District
    Size
    7,407 SF
    Lot size
    0.18 Acres

    Building Details

    Year built
    2006

    We can help!

    Listing Contact
    Patrick R. Luther, Ccim
    Patrick R. Luther, Ccim
    Source: Crexi

    Listing Agency: SRS Real Estate Partners Newport Beach Listing Agent: Patrick R. Luther, Ccim

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

    Learn more

    Overview

    Mokena Commercial Property For Sale

    Located on S. 88th Ave with a traffic volume of 6,900 vehicles per day, between 192nd St and W. 191st St, which sees 15,500 vehicles per day, this property benefits from significant visibility and accessibility. It is situated minutes from US-45, with 49,800 vehicles per day, and I-80, with 102,900 vehicles per day. The surrounding area includes established residential neighborhoods and several schools, contributing to a consistent demand for therapy services. The property is near Brookside Marketplace, a Target-anchored center with over 5.9 million annual visits, ranking in the 94th percentile in Illinois. Nearby centers such as Mokena Town Square and Hickory Creek Marketplace further enhance foot traffic and long-term value. Located within the Chicago MSA, which has a population of 9.3 million and is home to over 30 Fortune 500 companies, the property benefits from strong demographics, infrastructure, and real estate fundamentals. The 5-mile trade area includes over 152,100 residents and 71,900 employees, with average household incomes exceeding $140,000. The property size is 7,407 square feet.
    Location Intelligence

    Current Use by Public Records

    FedEx Drop Box Postal Service Firefly Legal Law Firm status pro mokena ... Tech Support Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Mokena
    County
    Will
    State
    Illinois
    Longitude
    -87.8318656
    Latitude
    41.5414423

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    FAQs

    What type of property is this?
    Office building - High-visibility commercial property in Mokena, Illinois, near major traffic routes.
    Where is this office building located?
    The property is located at 19150 S 88Th Ave Mokena, IL.
    What are key features of this property?
    This property features: - High-traffic location with excellent visibility: S. 88th Ave (6,900 VPD) near 192nd St and W. 191st St (15,500 VPD), and close to US-45 (49,800 VPD) and I-80 (102,900 VPD).; - Located near Brookside Marketplace (Target-anchored center with 5.9M+ annual visits) and other shopping centers, enhancing foot traffic.; - Strong demographics in the 5-mile trade area: 152,100+ residents, 71,900 employees, and average household incomes exceeding $140,000.
    Request Owner's contact information
    19150 S 88Th Ave Mokena, IL 60448
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    Mokena, IL 60448
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    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
    19150 S 88Th Ave Mokena, IL 60448
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    We can help!
    Listing Contact
    Patrick R. Luther, Ccim
    Patrick R. Luther, Ccim
    Real Estate License ID: LICENSENO.01912215
    Learn More
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