Residential Income Property with
For Sale
$550,000
8801 Willow Lane, Mokena, IL 60448
The 2024 ranch-style residence pairs an open living area with an attached garage and a full basement.
Property Size1,860 SF
Price / SF$295.70
Days on Market92
Property Features for 8801 Willow Lane
General Information
Standard status
Active
Size
1,860 SF
Property subtype
1/2 Duplex,Townhouse-Ranch
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$14,404
Building Details
Building Size
1,860 SF
Year Built
2024
Listing Agency:
Coldwell Banker Real Estate Group
(708) 903-0445
Listed By:
Michelle Ward · License #475175374
(815) 553-2411
Source:
Purveyproperties
Added: Aug 2
Changed: Oct 31
Last Checked: Oct 31 at 3:33AM
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 Coldwell Banker Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 2024, this 1,860-square-foot ranch-style townhome features an open great room, kitchen, and dining area beneath a vaulted, beamed ceiling. The kitchen includes 42-inch upper cabinets, granite counters, a breakfast-bar island, a five-burner cooktop, and stainless steel appliances. The primary suite has a walk-in closet with organizers and a private bath. LVP flooring, wood blinds, storm doors, and an epoxy-coated garage floor with cabinets are among the interior and entry improvements. A Maytag washer and dryer are included.
The full basement has 9-foot ceilings, storage space, and plumbing rough-ins for a future bathroom. The attached garage provides additional storage cabinetry.
The full basement has 9-foot ceilings, storage space, and plumbing rough-ins for a future bathroom. The attached garage provides additional storage cabinetry.
Key Highlights
- 1,860‑square‑foot ranch‑style townhome built in 2024
- Full basement with 9‑foot ceilings, storage, and bathroom rough‑ins
- Kitchen with granite counters, island, 42‑inch upper cabinets, and five‑burner cooktop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,578
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,560
$431.6K
Cap Rate 7%
$308,257
$308.3K
Cap Rate 9%
$239,756
$239.8K
Market Conditions
NOI Build-Up for 1,860 SF
Gross rent
$42.2K $22.68/SF
− Vacancy
−$3.0K −$1.59/SF
EGI
$39.2K $21.09/SF
− OpEx
−$17.7K −$9.49/SF
NOI
$21.6K $11.60/SF
Area
Will County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,560
Cap Rate 7%
$308,257
Cap Rate 9%
$239,756
Alternative Uses
Best Use
Apartment 5plus
$308.3K
$269.7K – $359.6K
NOI $21,578 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$421.8K
$369.1K – $492.2K
NOI $29,529 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
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Business Placement
Demographics for 60448, IL
25,512
Population
9,196
Households
2.8
Avg Household Size
43
Median Age
43%
College-Educated
98%
High-School Grad
18.3 sq mi
ZIP Area
1,394
Density / Sq Mi
$126,483
Median Household Income
$56,490
Median Earnings
$1,400
Median Rent
$369,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 2024 ranch-style residence pairs an open living area with an attached garage and a full basement.
Where is this residential income property located?
The property is located at 8801 Willow Lane Mokena, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,860‑square‑foot ranch‑style townhome built in 2024; Full basement with 9‑foot ceilings, storage, and bathroom rough‑ins; Kitchen with granite counters, island, 42‑inch upper cabinets, and five‑burner cooktop
