Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lake Thunderbird Waterfront Lot Title is generated by Realmo AI

    36 Magnolia Drive, Putnam, IL 61560

    View on Map
    Claim this Listing
    For Sale
    $74,900

    LAND - Putnam, IL

    Lot size:
    0.39 Acres
    Added:
    Mar 27, 2025
    Days on Market:
    425
    Last Refresh:
    May 25 at 2:06 pm

    Property Features for 36 Magnolia Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SINGL
    Standard status
    Active
    APN
    0300070030
    Lot size
    0.39 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    810

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well
    Water front
    1

    We can help!

    Listing Contact
    Stephanie Pellegrino
    Stephanie Pellegrino

    Listing agent Stephanie Pellegrino License #475141667

    Listing office Platinum Partners Realtors 123 W. St. Charles Road #100, Downers Grove, IL

    Listing date Mar 27, 2025

    MLS# 12321132 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Elevated waterfront lot on Lake Thunderbird with incredible lake views.
    • Access to 112‑acre lake, guarded pool, private beach, renovated clubhouse, and numerous recreational amenities.
    • Located on a quiet cul‑de‑sac among well‑manicured houses.
    • Low annual assessment includes access to all amenities.
    • Utilities (gas and electricity) run to the property.
    • Located just 2 hours southwest of Chicago.

    Overview

    This elevated waterfront lot is located on Lake Thunderbird, approximately two hours southwest of Chicago. Situated on a quiet cul-de-sac among well-maintained houses, the lot's higher elevation provides views of the lake. The property offers access to 112 acres of lake, a guarded pool, private beach, renovated clubhouse, parks, nature trails, volleyball, basketball, tennis, mini golf, disc golf, fishing, and special events. These amenities are included in the annual assessment. Gas and electricity are available to the property. The lot size is 0.39 acres. A private septic system is required, and a community well is available. The zoning is SINGL.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Grocery & Convenience Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Putnam
    County
    Putnam
    State
    Illinois
    Longitude
    -89.449035
    Latitude
    41.207423

    Nearby Similar for Sale

    • $12,000

      Land Near Lake and Recreation

      Located near lake with recreational opportunities and outdoor activities.
      4 PUEBLO Court, Putnam, IL 61560
      View Details
    • $13,000

      Lake Thunderbird Buildable Lots

      Two contiguous lots near Lake Thunderbird amenities.
      156 & 157 Lake Thunderbird Drive, Putnam, IL 61560
      View Details
    • $5,000

      Residential Lot in Putnam, IL

      Flat, easy-to-build lot with lake access and amenities.
      11 Sheridan Drive, Putnam, IL 61560
      View Details
    • $8,000

      Lake Thunderbird Building Lot

      Wooded lot near lake with recreational opportunities and city access.
      18 Timberlane Drive, Putnam, IL 61560
      View Details
    • $1,500

      Vacant Lot Near Lake Thunderbird

      Vacant lot near Lake Thunderbird with HOA assessment.
      47 Poplar Drive, Putnam, IL 61560
      View Details
    • $128,800

      Land For Sale in Putnam

      Land available in Lake Thunderbird Woods, Putnam, Illinois.
      18 Magnolia Court, Putnam, IL 61560
      View Details
    • $3,000

      Buildable Lot Near Clubhouse

      Buildable lot near the clubhouse.
      519 Lake Thunderbird Drive, Putnam, IL 61560
      View Details
    • $2,400

      Land For Sale in Putnam

      Land available in Putnam County, Illinois.
      6 Walnut Drive, Putnam, IL 61560
      View Details
    • $12,500

      Wooded Lot Near Lake Thunderbird

      Vacant land near Lake Thunderbird with recreational opportunities.
      30 Barbados Drive lot: 471, Putnam, IL 61560
      View Details
    • $22,500

      Wooded Lot Near Lake Thunderbird

      Wooded building lot near Lake Thunderbird with recreational opportunities.
      12 Cedar Lane S lot: 71, Putnam, IL 61560
      View Details
    • $12,500

      Wooded Lot Near Lake Thunderbird

      Wooded building lot near Lake Thunderbird with recreational opportunities.
      28 Barbados Drive lot: 472, Putnam, IL 61560
      View Details
    • $9,000

      Vacant Land For Sale

      Vacant land available for sale in Putnam, Illinois.
      9 Lincoln Road, Putnam, IL 61560
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Waterfront lot on Lake Thunderbird with community amenities.
    Where is this residential land & home lot located?
    The property is located at 36 Magnolia Drive Putnam, IL.
    What is the asking price?
    The asking price for this property is $74,900.
    What are key features of this property?
    This property features: **Elevated waterfront lot on Lake Thunderbird with incredible lake views.**; Access to 112‑acre lake, guarded pool, private beach, renovated clubhouse, and numerous recreational amenities.; Located on a quiet cul‑de‑sac among well‑manicured houses.
    (630) 435-3500
    We can help!
    Listing Contact
    Stephanie Pellegrino
    Stephanie Pellegrino
    Real Estate License ID: 475141667
    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
    36 Magnolia Drive, Putnam, IL 61560
    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!