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    550 22Nd St Lombard, IL 60148

    For Sale
    $2,400,000

    2.14 Acres, Exceptional Location, High Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 2.14-acre land parcel at 550 E. 22nd Street in Lombard, Illinois, presents a remarkable redevelopment opportunity. Priced at $2,400,000, the property boasts a rich history, originally engineered and approved for 26 townhomes. Pre-pandemic plans for a 98-room Tru Hilton hotel exist, offering an alternative development path. Existing engineering is readily adaptable for either the original townhouse plan or a new vision. Lombard's developer-friendly environment and low impact fees make this a highly attractive investment. The site benefits from its proximity to the partially redeveloped Yorktown Mall, featuring new housing, retail, and entertainment options, ensuring strong market demand for both for-sale and for-rent residential units. Excellent demographics and convenient access to major employment centers via I-355 and I-88 further enhance its appeal. The seller provides comprehensive due diligence materials including engineering, soils, and stormwater reports, facilitating a swift project commencement, potentially as early as 2024. This prime location offers unparalleled access to shopping, restaurants, Yorktown Mall, and expressways, making it an ideal site for a thriving residential development. The property is zoned for residential use. The address is 550 E 22nd St, Lombard, IL 60148, within DuPage County.

    Property Features for 550 22Nd St

    General Information

    Property type
    Land
    Lot Size
    93,218 SF

    HighLights

    • 2.14‑acre land parcel in Lombard, IL, priced at $2,400,000.
    • Zoned residential, previously approved for 26 townhomes; pre‑pandemic plans for a 98‑room hotel also exist.
    • Seller provides comprehensive due diligence materials (engineering, soils, stormwater reports), allowing for a potential 2024 start.
    • Excellent location near Yorktown Mall, I‑355, and I‑88, with strong demographics and low impact fees.
    • High demand for residential units due to proximity to shopping, restaurants, and major employment centers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lombard
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0021545
    Latitude
    41.8462353

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    FAQs

    What type of property is this?
    Land - 2.14 Acres, Exceptional Location, High Potential
    Where is this land located?
    The property is located at 550 22Nd St Lombard, IL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: 2.14-acre land parcel in Lombard, IL, priced at $2,400,000.; Zoned residential, previously approved for 26 townhomes; pre-pandemic plans for a 98-room hotel also exist.; Seller provides comprehensive due diligence materials (engineering, soils, stormwater reports), allowing for a potential 2024 start.
    Request Owner's contact information
    550 22Nd St Lombard, IL 60148
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    Lombard, IL 60148
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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
    550 22Nd St Lombard, IL 60148
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