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    61320 Plank Rd Cherry, IL 61312

    Sponsored
    For Sale
    $4,900,000

    98 Acres Industrial Land, $4.9M

    Property size:
    4,268,880 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 98-acre industrial land parcel presents a unique investment opportunity in Arlington, Illinois. Priced at $4,900,000 ($1.15/sq ft), this fully improved site boasts a strategic location just half a mile from the I-80/I-39 interchange at Plank Road (61320 Plank Rd, Arlington, IL 61312). The property offers 3,880 linear feet of BNSF Railway frontage, ensuring seamless freight transportation. All utilities are readily available, and the site is zoned and annexed for immediate development. Benefit from the advantages of a Tax Increment Finance district (TIF), Enterprise Zone designation, and eligibility for Foreign Trade Zone status. This location provides access to an affordable and skilled workforce, offering a cost-effective alternative to more established industrial markets along I-55 and I-80 in Joliet. The total square footage is 4,268,880, making it ideal for large-scale industrial projects. The property's prime location and comprehensive infrastructure make it an attractive option for businesses seeking efficient operations and strategic growth. The per-acre price is $50,000.

    Property Features for 61320 Plank Rd

    General Information

    Property type
    Land
    Square Feet
    4,268,880 SF
    Lot Size
    4,268,880 SF

    HighLights

    • $4,900,000 asking price for 98 acres of industrial land.
    • Fully improved site, zoned and annexed, with all utilities in place.
    • Served by BNSF Railway with 3,880 linear feet of rail frontage.
    • Prime location: ½ mile from I‑80/I‑39 interchange.
    • Located within a Tax Increment Finance (TIF) district, Enterprise Zone, and qualifies for Foreign Trade Zone status.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Spa & Massage Law Firm Hair Salon Nail Salon Storage Facility Bar & Pub Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Cherry
    County
    Bureau
    State
    Illinois
    Longitude
    -89.157699346346
    Latitude
    41.370940174812

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    FAQs

    What type of property is this?
    Land - 98 Acres Industrial Land, $4.9M
    Where is this land located?
    The property is located at 61320 Plank Rd Cherry, IL.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: $4,900,000 asking price for 98 acres of industrial land.; Fully improved site, zoned and annexed, with all utilities in place.; Served by BNSF Railway with 3,880 linear feet of rail frontage.
    Request Owner's contact information
    61320 Plank Rd Cherry, IL 61312
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    Cherry, IL 61312
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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
    61320 Plank Rd Cherry, IL 61312
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