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    Fairway Lk Dr Frankfort, IL 60423

    Sponsored
    For Sale
    $6,950,000

    77 Acres, 60-Lot Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 77.38-acre land parcel in Frankfort, Illinois, presents a prime development opportunity. Zoned Residential PUD, this previously platted and approved site is ready for the construction of a 60-lot single-family home community, known as Fairway Lakes Estates. The property boasts convenient access to major highways (I-57 and I-80) and the Metra SouthWest Service, providing easy commutes to Chicago (35 miles away). Situated at the northwest corner of 88th Avenue and Bruns Road, it offers stunning views of the prestigious Green Garden Country Club and Golf Course, featuring three courses (two 18-hole and one 9-hole). The subdivision plan includes 33 interior lots, 14 with pond views, and 13 with golf course views, ranging from 22,035 to 33,749 square feet (average 24,679 square feet). Infrastructure is partially complete, including paved roadways and some utility hookups, with assigned PINs for each lot. Public sewer and water services are available. The strong Frankfort real estate market, with a median sales price of $504,911 and homes averaging 25 days on the market, makes this a highly attractive investment for residential development. This is a rare chance to create a thriving community in a desirable location with excellent transportation links and proximity to a renowned golf course. The APN is 18-13-22-400-004-0000, 18-13-22-400-005-0000. The asking price is $6,950,000.

    Property Features for 0 Fairway Lk Dr

    General Information

    Property type
    Land
    Lot Size
    3,370,673 SF

    HighLights

    • 77.38‑acre site
    • 60 single‑family residential lots
    • R‑2 zoning
    • Golf course views
    • Public utilities (sewer, water, paved roads)
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Frankfort
    County
    Will
    State
    Illinois
    Longitude
    -87.8319663
    Latitude
    41.4141849

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    FAQs

    What type of property is this?
    Land - 77 Acres, 60-Lot Development Opportunity
    Where is this land located?
    The property is located at Fairway Lk Dr Frankfort, IL.
    What is the asking price?
    The asking price for this property is $6,950,000.
    What are key features of this property?
    This property features: 77.38-acre site; 60 single-family residential lots; R-2 zoning
    (630) 474-6441
    Request Owner's contact information
    Fairway Lk Dr Frankfort, IL 60423
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    Realmo Value Estimation

    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.

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    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.

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    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.

    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
    Fairway Lk Dr Frankfort, IL 60423
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