Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Available in Round Lake Title is generated by Realmo AI

    36220 North Illinois 83, Round Lake Beach, IL 60046

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,500,000

    21 acres of land for sale in Illinois.

    Type:Land
    Property size:
    21 SF
    Price / SF:
    $214,285/SF
    Added:
    Nov 26, 2025
    Days on Market:
    176
    Last Refresh:
    Apr 5 at 9:12 pm

    Property Features for 36220 North Illinois 83

    General Information

    Standard status
    Active
    Size
    21 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Michael Adams
    Michael Adams

    Listing agent Michael Adams

    Listing office Lee & Associates | Chicago

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates | Chicago

    HighLights

    • 21 acres of land
    • Land for sale
    • Located in Illinois

    Overview

    This property features 21 acres of land located in Round Lake Beach, Illinois.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Round Lake Beach
    County
    Lake
    State
    Illinois
    Longitude
    -88.0615
    Latitude
    42.4132

    Nearby Similar for Sale

    • $375,000
      4,200 SF

      Commercial Building Near National Retailers

      4,200 SF commercial building in high-traffic location.
      131 E Rollins Road, Round Lake Beach, IL 60073
      View Details
    • $50,000

      Round Lake Beach Land Bundle

      Three adjoining lots totaling .5036 acres near Round Lake.
      22771 Lake Park Avenue, Round Lake Beach, IL 60073
      View Details
    • $1,800,000
      2,588 SF

      Commercial Property on Milwaukee Avenue

      Prime commercial property with frontage on Milwaukee Ave in Illinois.
      35220 N Il Route 83, Round Lake Beach, IL 60073
      View Details
    • $29,000

      Buildable Lot Near Long Lake

      Unincorporated Lake County lot near shopping, Metra, and Long Lake.
      35563 N Hillside Avenue, Round Lake Beach, IL 60073
      View Details
    • $1,100,000
      10,900 SF

      Multi-Tenant Industrial Investment Opportunity

      Multi-tenant industrial property in Round Lake Beach, Illinois for sale.
      1800 Circuit Dr, Round Lake Beach, IL 60073
      View Details
    • $35,000

      Vacant Land in Round Lake

      Vacant parcel in Round Lake Beach with development potential.
      1110 N Fairfield Road, Round Lake Beach, IL 60073
      View Details
    • $1,800,000
      2,588 SF

      Commercial Property on Milwaukee Avenue

      Prime location with frontage on Milwaukee Ave in Round Lake Beach.
      35220 N Il Route 83, Round Lake Beach, IL 60073
      View Details
    • $40,000

      Waterfront Land in Round Lake Beach

      0.11-acre waterfront lot with channel access in Round Lake Beach.
      214 S Channel Drive, Round Lake Beach, IL 60073
      View Details
    • $24,999

      Round Lake Beach Buildable Lot

      Buildable lot in Round Lake Beach, utilities nearby.
      412 Woodland Drive, Round Lake Beach, IL 60073
      View Details
    • $1,100,000
      10,900 SF

      Industrial Property For Sale

      10,900 SqFt industrial property with 7.33% CAP rate.
      1800 Circuit Dr, Round Lake Beach, IL 60073
      View Details
    • $2,596,000
      10,000 SF

      High-Performing Buffalo Wild Wings Investment

      NNN leased Buffalo Wild Wings in Round Lake Beach, Illinois.
      500 E Rollins Rd, Round Lake Beach, IL
      View Details

    FAQs

    What type of property is this?
    Land - 21 acres of land for sale in Illinois.
    Where is this land located?
    The property is located at 36220 North Illinois 83 Round Lake Beach, IL.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: 21 acres of land; Land for sale; Located in Illinois
    (773) 355-5808
    We can help!
    Listing Contact
    Michael Adams
    Michael Adams
    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
    36220 North Illinois 83, Round Lake Beach, IL 60046
    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!