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    Nec Hankes Rd. And Norris Rd Sugar Grove, IL 60554

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    For Sale
    Contact for pricing

    Prime 3.28-acre residential lot, ideal for townhomes.

    Property Features for 0 Nec Hankes Rd. And Norris Rd

    General Information

    Property type
    Land
    Lot Size
    142,877 SF

    We can help!

    Listing Contact
    Maria Mcneil
    Maria Mcneil

    Listing Agency: Brown Commercial Group Inc Listing Agent: Maria Mcneil

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

    Learn more

    Overview

    This exceptional 3.28-acre lot presents a remarkable development opportunity in Sugar Grove, Illinois. Located at the hard corner of Nec Hankes Road and Norris Road, this property boasts a highly desirable location directly across from the Bliss Golf Course and bordered by the Prestbury Subdivision, ensuring strong demographics and high desirability. The property's zoning is currently TBD, but the City of Sugar Grove is actively seeking multi-family development proposals for this site, making it an attractive investment for developers. Convenient access to major transportation routes is provided by the nearby I-88/Rt. 56 interchange. Infrastructure is readily available, with a water main located across Norris Road to the west and sewer lines situated just north of the northwest corner of the lot. The APN numbers are 14-11-300-043 and 14-11-300-042. This property is priced subject to offer and presents a unique chance to capitalize on the growing Sugar Grove market. The site's prime location and potential for multi-family development make it a compelling investment opportunity. The 3.28-acre size offers ample space for a substantial project. Serious inquiries are encouraged.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Sugar Grove
    County
    Kane
    State
    Illinois
    Longitude
    -88.4132353
    Latitude
    41.7824355

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    FAQs

    What type of property is this?
    Land - Prime 3.28-acre residential lot, ideal for townhomes.
    Where is this land located?
    The property is located at Nec Hankes Rd. And Norris Rd Sugar Grove, IL.
    What are key features of this property?
    This property features: Price: Subject to Offer; Property Type: Land, 3.28 acres; High-visibility corner lot at Nec Hankes Rd & Norris Rd, Sugar Grove, IL, across from Bliss Golf Course. Zoning TBD, but City actively seeking multi-family development. Excellent access to I-88/Rt. 56. Utilities nearby.
    (847) 828-2871
    Request Owner's contact information
    Nec Hankes Rd. And Norris Rd Sugar Grove, IL 60554
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    Sugar Grove, IL 60554
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    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
    Nec Hankes Rd. And Norris Rd Sugar Grove, IL 60554
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    We can help!
    Listing Contact
    Maria Mcneil
    Maria Mcneil
    Real Estate License ID: 475164320
    (847) 828-2871
    Learn more
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