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    24 Acres Rt. 31 Chicago, IL 60606

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    For Sale
    Contact for pricing

    Prime 24-acre development site in Chicago.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 24-acre commercial land parcel presents a unique investment opportunity in Chicago, Illinois. Located on Route 31 in Cook/DuPage County (zip code 60606), this property boasts approximately 1,383 feet of frontage, offering unparalleled visibility and accessibility. Currently zoned M-1 within the Village of Lake in the Hills, the site is ideally positioned for significant development, with the Village's Future Land Use Map designating this area for future commercial use, suggesting a strong potential for re-zoning to Unincorporated C - Conditional Zoning District. Utilities are readily available on-site. The land's size and location make it exceptionally suitable for large-scale commercial projects, such as dealerships, furniture showrooms, micro-breweries, or facilities requiring substantial storage, warehouse space, and ample parking. Its strategic location across from a new Walmart Supercenter and other retail establishments further enhances its appeal and potential for high returns. The property includes three parcel numbers: 19-15-100-048; 19-15-300-016; 19-15-300-017. The land is priced at $3.95 per square foot. This is a rare opportunity to acquire a substantial, well-located commercial property with significant development potential in a thriving area.

    Property Features for 24 Acres Rt. 31

    General Information

    Property type
    Land
    Lot Size
    1,045,440 SF

    HighLights

    • 24± acre commercial land parcel.
    • Utilities on‑site.
    • Unincorporated C - Conditional Zoning District.
    • APN: 19‑15‑100‑048; 19‑15‑300‑016; 19‑15‑300‑017.
    • Approximately 1,383 feet of frontage on Rt. 31.
    • Development‑ready.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Chicago
    County
    Cook/DuPage
    State
    Illinois
    Longitude
    -87.6371461
    Latitude
    41.8817767

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    FAQs

    What type of property is this?
    Land - Prime 24-acre development site in Chicago.
    Where is this land located?
    The property is located at 24 Acres Rt. 31 Chicago, IL.
    What are key features of this property?
    This property features: 24± acre commercial land parcel.; Utilities on-site.; Unincorporated C - Conditional Zoning District.
    (847) 345-5026
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    24 Acres Rt. 31 Chicago, IL 60606
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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
    24 Acres Rt. 31 Chicago, IL 60606
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