Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Orland Park Prime Real Estate Title is generated by Realmo AI

    15715 Wolf Rd, Orland Park, IL 60467

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

    2.5-11 acre property in Orland Park with mixed zoning.

    Type:Land, Mixed Use, Multifamily, Office
    Lot size:
    11.00 Acres
    Added:
    Oct 9, 2023
    Days on Market:
    957
    Last Refresh:
    May 12 at 10:58 pm

    Property Features for 15715 Wolf Rd

    General Information

    Standard status
    Active
    Lot size
    11.00 Acres
    Property subtype
    Land, Mixed Use, Multifamily, Office

    We can help!

    Listing Contact
    Raymond Morandi

    Listing agent Raymond Morandi License #IL 471003188

    Listing office Morandi Properties, Inc

    Listing date Oct 9, 2023

    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 Morandi Properties, Inc

    HighLights

    • Prime Orland Park location with city sewer and water.
    • Multiple PINs with mixed commercial, residential, and agricultural zoning offering flexible use.
    • Redevelopment or investment opportunity with multiple rental opportunities.
    • Proximity to grocery store, shopping, dining, schools, and interstate access.
    • Village is open to residential or commercial use on the total parcel.
    • Existing structures include commercial office buildings, residential homes, an apartment, and a large pole building.

    Overview

    This property offers an opportunity on 2.5 to 11 acres in Orland Park. The property borders BMW of Orland Park at the west corner cutout of 158th and Wolf Road. City sewer and water are in place. It is located just north of the intersection of 159th and Wolf Road, within walking distance to a grocery store, shopping, dining, schools, and interstate access. The property has multiple PIN numbers with current mixed commercial, residential, and agricultural zoning. There is a possibility to divide the property into smaller 2.5-acre parcels with multiple offices and buildings. The Village is open to residential or commercial use on the total parcel. The property currently has multiple commercial office buildings, two residential homes, a residential apartment, a large 100x200 pole building, and over 10 outbuildings. It presents a possible redevelopment or investment opportunity with multiple rental opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Morandi Properties, Inc. Real Estate Agency Orland Park Small ... Veterinary Clinic

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.890778
    Latitude
    41.6040377

    Nearby Similar for Sale

    • $550,000
      3,146 SF

      Orland Park Commercial Property

      3146 sq ft commercial property with full basement.
      15252 S Harlem Avenue, Orland Park, IL 60462
      View Details
    • $649,000
      4,500 SF

      Orland Park Commercial Redevelopment Opportunity

      Closed car wash suitable for redevelopment in Orland Park, IL.
      7225 W 151st Street, Orland Park, IL 60462
      View Details
    • $400,000
      2,600 SF

      Orland Park Commercial Property For Sale

      2600 sq ft commercial property on busy 159th Street.
      7620 W 159th Street, Orland Park, IL 60462
      View Details
    • $449,500

      Prime Corner Parcel in Orland

      Highly visible 1.64-acre corner parcel ideal for restaurant use.
      11200 W 183rd Street, Orland Park, IL 60467
      View Details
    • $449,500

      Prime Corner Parcel in Orland

      Highly visible 1.64-acre corner parcel suitable for various commercial uses.
      11200 183rd Street, Orland Park, IL 60467
      View Details
    • $99,000

      Established Dog Grooming Business

      Turnkey dog grooming business for sale in Orland Park.
      999 Main Street, Orland Park, IL 60467
      View Details
    • $749,000
      5,500 SF

      Turnkey Medical Building in Orland

      Fully built-out medical building ideal for health practice or professional.
      10751 163rd Place, Orland Park, IL 60467
      View Details
    • $450,000

      Orland Park Commercial Land

      Commercial land available in Orland Park, Illinois.
      56 Orland Square Drive, Orland Park, IL 60462
      View Details
    • $799,900
      7,500 SF

      Orland Park Flex Space Investment

      Two units: office/warehouse and pure warehouse space available.
      15426-15428 S. 70th Court, Orland Park, IL 60462
      View Details
    • $449,500

      Prime Corner Parcel in Orland

      Highly visible 1.64-acre corner parcel ideal for restaurant use.
      11200 W 183rd Street, Orland Park, IL 60467
      View Details
    • $349,000

      Orland Park Land For Sale

      1.84-acre land parcel for retail or office development.
      11101 W 179th Street, Orland Park, IL 60467
      View Details
    • $459,900
      3,500 SF

      Office/Warehouse Building with Deluxe Suite

      Office/warehouse with executive suite, kitchen, and possible financing.
      15426 South 70th Court, Orland Park, IL 60462
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 2.5-11 acre property in Orland Park with mixed zoning.
    Where is this mixed-use property located?
    The property is located at 15715 Wolf Rd Orland Park, IL.
    What are key features of this property?
    This property features: Prime Orland Park location with city sewer and water.; Multiple PINs with mixed commercial, residential, and agricultural zoning offering flexible use.; Redevelopment or investment opportunity with multiple rental opportunities.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Raymond Morandi
    Real Estate License ID: IL 471003188
    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
    15715 Wolf Rd, Orland Park, IL 60467
    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!