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    Parklake Dr Morris, IL 60450

    Sponsored
    For Sale
    $798,000

    Three prime residential lots in Morris, IL.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional offering presents a unique opportunity to acquire three residential land parcels totaling 12.47 acres within the desirable Parklake Village Subdivision in Morris, Illinois. These parcels, identified by APN numbers 02-33-408-002, 02-33-425-002, and 02-33-425-001, are zoned R-1, allowing for a variety of residential development options. Individual lot sizes range from approximately 0.97 to 9.34 acres, providing flexibility for both single-family homes and potentially larger-scale residential projects. The property is conveniently located on Parklake Drive, in Grundy County, with a 60450 zip code. The assemblage offers a compelling investment opportunity due to its park-like setting, featuring mature trees, and its proximity to a rapidly expanding commercial area situated conveniently off Interstate 80. All utilities are readily available at the site, simplifying the development process. This is an ideal opportunity for builders, developers, or investors seeking to capitalize on the growth potential of this attractive Morris, Illinois location. The parcels are available for purchase individually or as a combined assemblage, providing options to suit various investment strategies and development plans. The asking price for the entire assemblage is $798,000.

    Property Features for 0 Parklake Dr

    General Information

    Property type
    Land
    Lot Size
    543,193 SF

    HighLights

    • Utilities on‑site.
    • Landscaped grounds with mature trees.
    • Excellent location near a thriving commercial area off I‑80 in Morris, IL.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Morris
    County
    Grundy
    State
    Illinois
    Longitude
    -88.4285339
    Latitude
    41.3780363

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    FAQs

    What type of property is this?
    Land - Three prime residential lots in Morris, IL.
    Where is this land located?
    The property is located at Parklake Dr Morris, IL.
    What is the asking price?
    The asking price for this property is $798,000.
    What are key features of this property?
    This property features: Utilities on-site.; Landscaped grounds with mature trees.; Excellent location near a thriving commercial area off I-80 in Morris, IL.
    Request Owner's contact information
    Parklake Dr Morris, IL 60450
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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
    Parklake Dr Morris, IL 60450
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