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

    5305-5315 N Illinois Fairview Heights, IL 62208

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2.09 acre redevelopment site with 382' frontage on IL-159.

    Type:Land
    Lot size:
    2.09 Acres
    Added:
    Apr 17, 2017
    Days on Market:
    3291
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 5305-5315 N Illinois

    General Information

    Standard status
    Active
    Lot size
    2.09 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Matt Barriger

    Listing agent Matt Barriger License #IL 475148523

    Listing office Barbermurphy Group

    Listing date Apr 17, 2017

    Source Crexi

    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 Barbermurphy Group

    Overview

    2.09 Acre Redevelopment Site

    This 2.09-acre commercial real estate site is available for sale and offers redevelopment potential. The property features 382 feet of frontage along North Illinois (IL-159), south of St. Clair Square. Currently, there are three small structures on the site that can be vacated quickly. The location benefits from a traffic count of 25,600 ADT on Route 159. The zoning is B3.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Hotel & Motel Department Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairview Heights
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9855517
    Latitude
    38.6162693

    Nearby Similar for Sale

    • $312,000
      2,700 SF

      Retail Building with High Traffic

      2700 SF retail building with high traffic location.
      10099 Lincoln Trail, Fairview Heights, IL 62208
      View Details
    • $225,000
      1,257 SF

      Fairview Heights Retail Opportunity

      Retail property in high-traffic area near major retailers.
      5105 N Illinois Street, Fairview Heights, IL 62208
      View Details
    • $199,000
      1,540 SF

      Fairview Heights Car Wash Business

      Self-serve car wash with 4 bays on a busy highway.
      9509 Saint Clair Avenue, Fairview Heights, IL 62208
      View Details
    • $25,000

      Residential Building Lot in Fairview Heights

      Residential building lot near IL 159 and Ashland Avenue.
      114 Ashland Avenue, Fairview Heights, IL 62208
      View Details
    • $39,900

      Stonewolf Subdivision Wooded Homesite

      One-acre wooded lot in Stonewolf Subdivision, build your dream home.
      1078 Blackwolf Court, Fairview Heights, IL 62208
      View Details
    • $19,000

      Residential Lot in Marko Villa

      Spacious .21-acre residential lot in Fairview Heights, Illinois.
      204 Pamona Drive, Fairview Heights, IL 62208
      View Details
    • $950,000
      12,500 SF

      Fairview Heights Retail Investment Opportunity

      12,500 SF retail property with high occupancy and CAP rate.
      10251 Lincoln Trl, Fairview Heights, IL
      View Details
    • $140,000

      Unrestricted Land in Fairview Heights

      10.5 acres of residential land with no HOA or restrictions.
      0 Coventry Ct., Fairview Heights, IL 62208
      View Details
    • $750,000
      7,820 SF

      Mixed-Use Property in Fairview Heights

      5,940 SF building with office, warehouse, and showroom space.
      5515 Old Collinsville Rd, Fairview Heights, IL
      View Details
    • $139,900
      1,680 SF

      Fairview Heights Office Space Available

      1,680 SF office space for lease in Fairview Heights.
      10326 Lincoln Trl, Fairview Heights, IL
      View Details
    • $3,500,000
      14,295 SF

      Renovated Showroom and Service Center

      Recently renovated showroom and service center with high traffic visibility.
      501 Salem Pl, Fairview Heights, IL
      View Details
    • $2,200,000
      5,896 SF

      Restaurant Building with High Visibility

      Second-generation restaurant with existing FF&E, ample parking, and signage.
      6900 N Illinois St, FAIRVIEW HEIGHTS, IL
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.09 acre redevelopment site with 382' frontage on IL-159.
    Where is this commercial land located?
    The property is located at 5305-5315 N Illinois Fairview Heights, IL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 2.09 acre redevelopment site; Boasting 382' of frontage on North Illinois (IL‑159); Located south of St. Clair Square
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Barriger
    Real Estate License ID: IL 475148523
    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!