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    16360 159 St Lockport, IL 60441

    Sponsored
    For Sale
    $1,998,000

    Prime 2-acre commercial lot near I-355.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 2-acre commercial land parcel, located at 16360 W 159th St in Lockport, Illinois (zip code 60441), presents a remarkable investment opportunity. Zoned C3, this property offers significant potential for retail development. The lot size is precisely 2 acres, identified by APN 16-05-18-400-013. Its strategic location provides easy access to Interstate 355, ensuring high visibility and convenient access for customers. The property is situated just off the I-355 interchange and directly across from the established Lockport Square Shopping Center, benefiting from existing commercial activity and foot traffic. This prime location offers excellent potential for attracting a wide range of businesses. The property's advantageous position within Will County also translates to lower property taxes, enhancing its overall financial appeal. This is a rare opportunity to acquire a highly desirable commercial land parcel in a thriving area with strong growth potential. The asking price for this exceptional property is $1,998,000. Serious inquiries are encouraged.

    Property Features for 16360 159 St

    General Information

    Property type
    Land
    Lot Size
    87,120 SF

    HighLights

    • 2‑acre commercially zoned lot on 159th St (Route 7).
    • Excellent I‑355 access, opposite Lockport Square Shopping Center.
    • Prime site for new retail construction.
    • Low Will County property taxes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Nail Salon Kitchen & Bath Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Will
    State
    Illinois
    Longitude
    -88.0167788
    Latitude
    41.5990672

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    FAQs

    What type of property is this?
    Land - Prime 2-acre commercial lot near I-355.
    Where is this land located?
    The property is located at 16360 159 St Lockport, IL.
    What is the asking price?
    The asking price for this property is $1,998,000.
    What are key features of this property?
    This property features: 2-acre commercially zoned lot on 159th St (Route 7).; Excellent I-355 access, opposite Lockport Square Shopping Center.; Prime site for new retail construction.
    (708) 289-8912
    Request Owner's contact information
    16360 159 St Lockport, IL 60441
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    Lockport, IL 60441
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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.

    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.

    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.

    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
    16360 159 St Lockport, IL 60441
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