Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Vacant Land Ready For Development Title is generated by Realmo AI

    21587 Lincoln Highway, Lynwood, IL 60411

    View on Map
    Claim this Listing
    New
    For Sale
    $260,000

    Cleared land zoned B-3 with multiple development opportunities.

    Type:Land or Vacant Lot
    Added:
    May 21, 2026
    Days on Market:
    7
    Last Refresh:
    May 21 at 7:58 am

    Property Features for 21587 Lincoln Highway

    General Information

    Standard status
    Active
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    SARAH MALBURG

    Listing agent SARAH MALBURG

    Listing office FIRST IN REALTY, INC.

    Listing date May 21, 2026

    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 FIRST IN REALTY, INC.

    HighLights

    • Cleared, vacant land ready for development
    • Zoned B‑3, allowing for a wide range of commercial uses
    • Located at the Illinois/Indiana border
    • High‑traffic location at the first/last intersection entering/exiting Illinois
    • Potential for a single business or a multi‑store shopping center
    • Permitted uses include restaurant, bank, offices, retail, and more

    Overview

    This cleared, vacant land is zoned B-3 and suitable for various uses, including restaurants (with or without drive-thru), banks, professional offices, private schools, theaters, bowling alleys, car dealerships, bus stations, convenience stores, tobacco stores, liquor stores, grocery stores, hardware stores, laundry services, salons, or filling stations. The property is positioned at the intersection before entering Indiana from Illinois, or the first intersection upon entering Illinois. The zoning also allows for the construction of a shopping center to accommodate multiple stores. Interested parties are responsible for conducting their own due diligence regarding allowable uses, which can be found in the Lynwood Village Ordinance Book.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center 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
    Lynwood
    County
    Cook
    State
    Illinois
    Longitude
    -87.5301044
    Latitude
    41.5031652

    Nearby Similar for Sale

    • $389,000

      Commercial Land in Lynwood, Illinois

      Commercial land available in Lynwood, Illinois for sale.
      19530 Green Bay Avenue, Lynwood, IL 60411
      View Details
    • $85,000

      Commercial Lot in Lynwood, IL

      Developed commercial lot suitable for building a business in Lynwood.
      20521 King Arthur Drive, Lynwood, IL 60411
      View Details
    • $1,150,000
      6,300 SF

      Turnkey Plastics Business with Residence

      Live-work opportunity: plastics business, assets, real estate, and residence.
      21706 E Lincoln Highway, Lynwood, IL 60411
      View Details
    • $1,150,000
      8,100 SF

      Lynwood Warehouse For Sale

      8,100 sq ft warehouse in Lynwood, Illinois.
      21706 E Lincoln Hwy, Lynwood, IL
      View Details
    • $850,000

      Prime Commercial Land in Lynwood

      Vacant commercial parcel in growing community with endless possibilities.
      19501 S Torrence Avenue, Lynwood, IL 60411
      View Details
    • $42,000

      Vacant Lot Near Expressways

      Vacant commercial land with convenient access to major routes.
      2124 Lewis Drive, Lynwood, IL 60411
      View Details
    • $41,000

      Vacant Lot Building Opportunity

      Vacant lot with great building potential, convenient location.
      19700 Ambry Circle, Lynwood, IL 60411
      View Details
    • $49,000

      Vacant Lot Near Expressways

      Vacant commercial lot with convenient access to major routes.
      2136 Ambry Circle, Lynwood, IL 60411
      View Details
    • $47,000

      Vacant Lot Near Expressways

      Vacant commercial lot with convenient access to major expressways.
      2172 Nichols Drive, Lynwood, IL 60411
      View Details
    • $50,000

      Vacant Lot Near Expressways

      Vacant commercial lot with convenient access to major expressways.
      2112 Nichols Drive, Lynwood, IL 60411
      View Details
    • $41,000

      Vacant Lot Near Expressways

      Vacant land with convenient access to major transportation routes.
      2124 Ambry Circle, Lynwood, IL 60411
      View Details
    • $42,000

      Vacant Lot Near Expressways

      Vacant commercial lot with convenient access to expressways and amenities.
      2040 Ambry Circle, Lynwood, IL 60411
      View Details

    FAQs

    What type of property is this?
    Commercial land - Cleared land zoned B-3 with multiple development opportunities.
    Where is this commercial land located?
    The property is located at 21587 Lincoln Highway Lynwood, IL.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: Cleared, vacant land ready for development; Zoned B‑3, allowing for a wide range of commercial uses; Located at the Illinois/Indiana border
    (773) 779-3473
    We can help!
    Listing Contact
    SARAH MALBURG
    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
    21587 Lincoln Highway, Lynwood, 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!