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    Elmhurst Vacant Lot Opportunity Title is generated by Realmo AI

    426 E Harrison Street, Elmhurst, IL 60126

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    Picture of Residential land & home lots at 426 E Harrison Street, Elmhurst, IL
    For Sale
    $390,000

    LAND - Elmhurst, IL

    Lot size:
    0.23 Acres
    Added:
    Mar 17, 2026
    Days on Market:
    59
    Last Refresh:
    May 14 at 11:06 am

    Property Features for 426 E Harrison Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SINGL
    Standard status
    Active
    APN
    0613401002
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    6995

    We can help!

    Listing Contact
    Tom Makinney
    Tom Makinney

    Listing agent Tom Makinney License #471010975

    Listing office Compass 1 Grant Square Suite 201, IL

    Listing date Mar 17, 2026

    MLS# 12590985 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

    • Ready‑to‑build 56 x 180 vacant lot in highly desirable south Elmhurst.
    • No demolition costs, saving time and money.
    • Engineering work and construction fencing included.
    • Ideal footprint for a custom home.
    • Excellent access to major highways, Oak Brook, Elmhurst Hospital, and Butterfield Park.
    • Strong demand for new construction homes in Elmhurst.

    Overview

    This is an exceptional opportunity to build new construction on a 56 x 180 vacant lot in south Elmhurst. The property is surrounded by established homes and newer luxury construction. This deep lot offers an ideal footprint for a custom home and provides the advantage of no demolition costs, saving both time and expense for the next owner. Engineering work and construction fencing are already in place and included with the property, allowing a builder or end user to move forward quickly. The location offers excellent access to major highways, Oak Brook shopping and dining, Elmhurst Hospital, and Butterfield Park, while still being part of one of the western suburbs' most sought-after communities. Elmhurst continues to see strong demand for new construction homes, making this property an attractive option for builders, investors, or buyers looking to design and build their own home. This is a rare opportunity to secure a ready-to-build lot in Elmhurst with generous depth and convenient access to everything Chicagoland has to offer. The lot size is 0.23 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    DuPage
    State
    Illinois
    Longitude
    -87.924061
    Latitude
    41.869087

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    FAQs

    What type of property is this?
    Residential land & home lot - Ready-to-build lot in Elmhurst with convenient access to Chicagoland.
    Where is this residential land & home lot located?
    The property is located at 426 E Harrison Street Elmhurst, IL.
    What is the asking price?
    The asking price for this property is $390,000.
    What are key features of this property?
    This property features: Ready‑to‑build 56 x 180 vacant lot in highly desirable south Elmhurst.; No demolition costs, saving time and money.; Engineering work and construction fencing included.
    (630) 974-6750
    We can help!
    Listing Contact
    Tom Makinney
    Tom Makinney
    Real Estate License ID: 471010975
    Learn More
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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.

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