Sign Up Successful!
You now have access to more from Realmo!
    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

    10750 183Rd St Orland Park, IL 60467

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Orland Park development land, 15.2 acres.

    Property Features for 10750 183Rd St

    General Information

    Property type
    Land
    Lot Size
    662,112 SF

    We can help!

    Listing Contact
    Shamus Conneely
    Shamus Conneely

    Listing Agent: Shamus Conneely

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 15.2-acre parcel located at 10750 W. 183rd St., Orland Park, IL 60467, presents a remarkable opportunity for developers. Zoned ORI, this property is ideally suited for a variety of uses, including senior housing, multifamily residential, and other residential developments. The site is conveniently located minutes from Orland Park's central business district, Metra Rail stations, and I-80, ensuring excellent accessibility. Existing infrastructure is complete, with all utilities and roadways already in place. The land is at grade and partially detained, simplifying development. The property boasts a highly desirable location, neighboring Parkview Church (serving approximately 8,000 people across three locations) and Evergreen Senior Living, creating a strong community presence. Adjacent amenities include walking trails and public parks, enhancing the property's appeal. High visibility is assured with 4,478 vehicles per day (VPD) on 183rd Street and 17,509 VPD on Wolf Road. The property is within the Orland School District 135 (PK-8) and Consolidated HSD 230 (Sandburg High School) districts. Comprehensive site surveys, engineering reports, and Covenants, Conditions, and Restrictions (CC&Rs) are readily available for review. APN: 27-32-301-022. This is a truly exceptional infill site ready for immediate development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.88288
    Latitude
    41.55952

    Nearby Similar for Sale

    • $799,900
      4,000 SF

      Orland Park Commercial Investment Opportunity

      Two units: office/warehouse space plus pure warehouse space.
      15426-15428 S 70Th Ct, Orland Park, IL 60462
      View Details
    • $400,000
      0.29 Acres

      Orland Park Commercial Property

      2600 sq ft commercial property on busy 159th Street.
      7620 W 159Th St, Orland Park, IL 60462
      View Details
    • $459,900

      Orland Park Office/Warehouse Building

      Office/warehouse with deluxe executive suite and possible financing.
      15426 S 70Th Ct, Orland Park, IL 60462
      View Details
    • $299,990
      1,832 SF

      Orland Park Office/Retail Condo

      Versatile 1,832 SF condo in high-traffic location.
      14340 S La Grange Rd, Orland Park, IL 60462
      View Details
    • $399,900
      4,000 SF

      Orland Park Industrial/Warehouse Space

      4000 sq ft warehouse near Harlem Ave and I-80.
      15428 S 70Th Ct, Orland Park, IL 60462
      View Details
    • $649,000
      0.85 Acres

      Orland Park Car Wash Opportunity

      Self-service car wash with redevelopment potential in Orland Park.
      7225 W 151St St, Orland Park, IL 60462
      View Details
    • $399,900

      Orland Park Restaurant Business Opportunity

      Fully operating restaurant with banquet space and outdoor seating available.
      8817 143Rd St, Orland Park, IL 60462
      View Details
    • $125,000
      0.03 Acres

      Orland Park Retail Opportunity

      Successful dog grooming business for sale in Orland Park.
      9999 Main St, Orland Park, IL 60467
      View Details
    • $45,000

      Orland Park Restaurant Opportunity

      Turnkey restaurant in high-traffic area with favorable lease terms.
      9931 W 151St St, Orland Park, IL 60462
      View Details
    • $995,000
      Pending

      Established Auto Mechanic Business For Sale

      Full-service auto mechanic business and real estate in Orland Park.
      999 Main St, Orland Park, IL 60462
      View Details
    • Contact for pricing
      1,552 SF

      Updated Townhouse in Long Run Creek

      Updated ranch-style townhouse with modern amenities and convenient location.
      11849 Somerset Rd, Orland Park, IL 60467
      View Details
    • Contact for pricing
      1,836 SF

      Premium End-Unit Ranch Home

      Immaculate ranch in Marley Creek, lives like single-family home.
      11656 Lake Shore Dr, Orland Park, IL 60467
      View Details

    FAQs

    What type of property is this?
    Land - Prime Orland Park development land, 15.2 acres.
    Where is this land located?
    The property is located at 10750 183Rd St Orland Park, IL.
    What are key features of this property?
    This property features: High-traffic location with 4,478 vehicles per day (VPD) on 183rd Street and 17,509 VPD on Wolf Road.; Located in the desirable Orland School District 135 (PK-8).; Served by Consolidated High School District 230 – Sandburg High School.
    (630) 229-2290 Call to check price and availability
    Request Owner's contact information
    10750 183Rd St Orland Park, IL 60467
    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.
    10750 183Rd St
    Orland Park, IL 60467
    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
    10750 183Rd St Orland Park, IL 60467
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Shamus Conneely
    Shamus Conneely
    Real Estate License ID: 471007958
    (630) 229-2290 (773) 814-3378
    Learn more
    Google sign-in failed. Please try again or use another login method.