Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot 1 South Towne Center Drive North Aurora, IL 60542

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

    5.98 acre outlot ready for development with I-88 exposure.

    Type:Land
    Lot size:
    5.98 Acres
    Added:
    Mar 29, 2024
    Days on Market:
    754
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for Lot 1 South Towne Center Drive

    General Information

    Standard status
    Active
    Lot size
    5.98 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Brian Coleman

    Listing agent Brian Coleman License #IL

    Listing office BRIAN COLEMAN & ASSOCIATES, INC.

    Listing date Mar 29, 2024

    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 BRIAN COLEMAN & ASSOCIATES, INC.

    Overview

    5.98 Acre Development Outlot

    This 5.98-acre outlot is ready for development and offers interstate I-88 exposure. Zoned B2 PUD, it is ideal for retail, restaurant, entertainment, recreation, office, and many other uses. The property is located in the North Aurora Towne Center retail center, which is anchored by major retailers such as Target, JC Penny, and Petco, along with other national brands. Nearby are the North Aurora Auto Mall, Oberweis Headquarters, Kraft, Toyota, Nestle, and DHL. Utilities are readily available to the site, and storm water management is provided off-site. Additional parcels are available, ranging from 1.8 to 11.9 acres.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    North Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.361966
    Latitude
    41.795913

    Nearby Similar for Sale

    • $1,350,000
      20,000 SF

      North Aurora Office Building For Sale

      20,000 SF office building with expansion potential and ample parking.
      101 Overland Dr, North Aurora, IL 60542
      View Details
    • $5,995,000
      3,000 SF

      Retail Space Near Interstate 88

      Retail space with high traffic and long-term tenants.
      1600-1800 Orchard Gateway Blvd, North Aurora, IL
      View Details
    • $5,995,000
      35,316 SF

      Pickleball Kingdom Leased Investment Property

      10.5-year lease in North Aurora Towne Center.
      1700 Orchard Gateway Blvd, North Aurora, IL 60542
      View Details
    • Contact for pricing
      52,266 SF

      North Aurora Office Building

      52,266 SF office building in North Aurora, Illinois.
      150 S Lincolnway, North Aurora, IL 60542
      View Details
    • Contact for pricing
      3,528 SF

      North Aurora Office Space

      Office space available in North Aurora, Illinois.
      108 John St, North Aurora, IL
      View Details
    • $1,750,000

      North Aurora Commercial Opportunity

      Value-add property with long-term tenant and owner-user potential.
      1175 Oak Street, North Aurora, IL 60542
      View Details
    • $1,300,000

      Commercial Land Near I-88

      Commercial land for sale, close to I-88 highway.
      Orchard Rd & Garden Way, North Aurora, IL
      View Details
    • $465,000

      Prime Commercial Lot Opportunity

      Development opportunity in a high-traffic commercial area.
      Garden Way, Lot 18, North Aurora, IL 60542
      View Details
    • $385,506

      1.77 Acre Retail Outlot

      1.77 acre outlot ideal for retail development.
      Lot 13 Towne Center Dr, North Aurora, IL 60542
      View Details
    • $463,914

      2.13 Acre Commercial Outlot

      Development-ready 2.13 acre outlot with I-88 visibility.
      Lot 5 Towne Center Dr, North Aurora, IL 60542
      View Details
    • $2,865,376

      North Aurora Development Land

      11.96 acres of B2 PUD zoned land for development.
      Lot 1 N Orchard Gateway Blvd, North Aurora, IL 60542
      View Details
    • $610,000

      Development Opportunity in Orchard Commerce

      Prime commercial land for development in North Aurora.
      Genesis Way, Lot 3, North Aurora, IL 60542
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.98 acre outlot ready for development with I-88 exposure.
    Where is this commercial land located?
    The property is located at Lot 1 South Towne Center Drive North Aurora, IL.
    What is the asking price?
    The asking price for this property is $1,432,688.
    What are key features of this property?
    This property features: 5.98 acre outlot ready for development; Interstate I‑88 exposure; Zoned B2 PUD for retail, restaurant, entertainment, recreation, or office
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Coleman
    Real Estate License ID: IL
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!