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    Yorkville School Building on Acreage Title is generated by Realmo AI

    7481 Mill Road, Yorkville, IL 60560

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    Claim this Listing
    For Sale
    $2,490,000

    COMMERCIAL - Yorkville, IL

    Property size:
    16,900 SF
    Lot size:
    24.15 Acres
    Price / SF:
    $147/SF
    Added:
    Mar 9, 2026
    Days on Market:
    71
    Last Refresh:
    May 18 at 9:06 am

    Property Features for 7481 Mill Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0211400015
    Size
    16,900 SF
    Lot size
    24.15 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    859

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    1995
    Floors in Building
    1

    We can help!

    Listing Contact
    Keith Warpinski

    Listing agent Keith Warpinski License #475096968

    Listing office Brummel Properties, Inc. 58 Chicago Road, Oswego, IL

    Listing date Mar 9, 2026

    MLS# 12587111

    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

    • Expansive 4.71‑acre property featuring a 16,900 sq ft building, formerly an early learning center in excellent condition.
    • Adjacent 19.45 acres of vacant land, ideal for expansion or development.
    • Features 12 large classrooms, private offices, a full kitchen, and a large gathering area.
    • Located in a thriving area with new residential construction, suitable for community‑focused initiatives.
    • Flexible zoning allows for various permitted uses such as a worship center, daycare, senior living, or athletic fields.
    • Equipped with central air and natural gas availability.

    Overview

    This is a 16,900 square foot, single-story school building situated on 24.15 acres. Previously operating as an early learning center, the facility is in excellent condition and has been meticulously maintained. The school features 12 large classrooms, several private offices, a full kitchen and an expansive gathering area. The property includes an adjacent 19.45 acres of vacant land, offering room for expansion or new development. The surrounding area is thriving with new residential construction. The property's flexibility allows for various permitted uses, including the option to develop a worship center, daycare facility, senior living opportunities and athletic fields. The property is being sold "AS IS."

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $2.18M
    NOI $196,054 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.80M
    NOI $196,054 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.92M
    NOI $196,054 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $383.3k $22.68
    − Vacancy −$26.8k −$1.59
    EGI $356.5k $21.09
    − OpEx −$160.4k −$9.49
    NOI $196.1k $11.60
    16,900 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $2.80M
    $2.45M – $3.27M (±1% cap)
    NOI $196,054 @ 7.0% cap · market cap 7.87%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $5.83M
    $5.11M – $6.81M (±1% cap)
    NOI $408,436 @ 7.0% cap · market cap 16.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Schools

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Yorkville
    County
    Kendall
    State
    Illinois
    Longitude
    -88.3984751
    Latitude
    41.6969284

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    • $2,490,000
      16,900 SF

      Yorkville School Building with Expansion

      16,900 SF school on 4.71 acres with expansion potential.
      7481 Mill Road, Yorkville, IL 60560
      View Details

    FAQs

    What type of property is this?
    School - 16,900 SF school on 24.15 acres in Yorkville, IL.
    Where is this school located?
    The property is located at 7481 Mill Road Yorkville, IL.
    What is the asking price?
    The asking price for this property is $2,490,000.
    What are key features of this property?
    This property features: Expansive 4.71‑acre property featuring a 16,900 sq ft building, formerly an early learning center in excellent condition.; Adjacent 19.45 acres of vacant land, ideal for expansion or development.; Features 12 large classrooms, private offices, a full kitchen, and a large gathering area.
    (630) 551-8005
    We can help!
    Listing Contact
    Keith Warpinski
    Real Estate License ID: 475096968
    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.

    More about this property
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