Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31w038 Washington St. West Chicago, IL 60185

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $325,000

    Industrial lot with utilities and easy transportation access.

    Type:Land
    Property size:
    1 SF
    Added:
    Nov 25, 2025
    Days on Market:
    127
    Last Refresh:
    Mar 29 at 8:27 pm

    Property Features for 31w038 Washington St.

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Land

    Building Details

    Year Built
    1977

    We can help!

    Listing Contact
    Luke Dummitt
    Luke Dummitt

    Listing agent Luke Dummitt

    Listing office Brown Commercial Group

    Listing date Nov 25, 2025

    Source Browncommercialgroup

    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 Brown Commercial Group

    Overview

    Improved Industrial Lot For Sale

    This is a fully improved industrial lot, zoned for industrial use. It features frontage on Washington Street and includes all utilities connected to the site. The property benefits from its location within an established industrial area and offers convenient access to major transportation routes, including Route 38, Route 59, Route 64, and I-88. The lot size is 1 acre, providing ample space for development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Gym & Fitness Center Skin Care Clinic Kitchen & Bath Showroom HVAC Service Grocery & Convenience Store Food Market Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    West Chicago
    County
    DuPage
    State
    Illinois
    Longitude
    -88.2424
    Latitude
    41.8804

    Nearby Similar for Sale

    • $895,000

      Versatile Commercial Building, West Chicago

      Adaptable commercial building suitable for diverse uses in West Chicago.
      331 George Street, West Chicago, IL 60185
      View Details
    • $895,000

      Versatile Building in West Chicago

      Adaptable building suitable for school, daycare, religious facility, or offices.
      331 George Street, West Chicago, IL 60185
      View Details
    • $118,500

      West Chicago Land Opportunity

      Almost half-acre lot in established neighborhood, West Chicago, IL.
      1066 Trillium Trail, West Chicago, IL 60185
      View Details
    • $1,250,000

      Profitable Landscaping Business Opportunity

      Established landscaping business for sale with equipment and client base.
      Confidential Street, West Chicago, IL 60185
      View Details
    • $750,000

      Prime Land in West Chicago

      2.45 acres on North Ave, high visibility, ideal development.
      27W046 North Avenue, West Chicago, IL 60185
      View Details
    • $1,900,000
      4,250 SF

      Commercial Building on 2.3 Acres

      Free-standing commercial building with manufacturing zoning and special use permit.
      2040 W Roosevelt Rd, West Chicago, IL
      View Details
    • $2,761,800
      3,530 SF

      West Chicago Retail NNN Lease

      Corporate leased retail property in Chicago MSA with scheduled rent increases.
      1000 N Neltnor Blvd, West Chicago, IL
      View Details
    • Contact for pricing
      39,584 SF

      West Chicago Industrial Space

      39,584 SF industrial space with office and parking.
      741 Winston St, West Chicago, IL 60185
      View Details
    • Contact for pricing
      6 SF

      Industrial Site with Renovated Office

      6.10-acre site featuring renovated office and maintenance buildings.
      1280 Powis Road, West Chicago, IL, 60185
      View Details
    • $1,900,000

      Prime Industrial Property in West Chicago

      18 acres with storage buildings and Union Pacific railroad access.
      301 W Grand Lake Boulevard, West Chicago, IL 60185
      View Details
    • Contact for pricing
      11 SF

      Commercial Land Near Route 59

      Commercial land for sale with utilities and off-site detention.
      30W300 North Avenue, West Chicago, IL, 60185
      View Details
    • $295,000

      West Chicago Land For Sale

      2.1 acre commercial land available in West Chicago, Illinois.
      28W185 Geneva Road, West Chicago, IL 60185
      View Details

    FAQs

    What type of property is this?
    Land - Industrial lot with utilities and easy transportation access.
    Where is this land located?
    The property is located at 31w038 Washington St. West Chicago, IL.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Fully improved industrial lot with all utilities to the site.; Zoned Industrial.; Great frontage on Washington Street.
    (847) 758-9200
    We can help!
    Listing Contact
    Luke Dummitt
    Luke Dummitt
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!