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    159Th St Homer Glen, IL 60491

    Sponsored
    For Sale
    $3,250,000

    Prime Commercial Land, High Visibility, I-355 Access

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 5-5.99 acre commercial land parcel presents a remarkable investment opportunity in the thriving Homer Glen, Illinois market. Situated at the highly visible northwest corner of West 159th Street and Parker Road, this property boasts prime frontage on both roadways, offering unparalleled exposure to significant traffic volume. The location benefits from its proximity to the newly expanded four-lane 159th Street, ensuring easy accessibility for customers and employees. Furthermore, its convenient proximity to Interstate 355 provides excellent regional connectivity. This signalized corner lot is ideally suited for a variety of commercial developments, particularly restaurants or similar businesses seeking high visibility and convenient access. Homer Glen's burgeoning residential growth and expanding business community make this a particularly attractive location for long-term investment and development. The property's size and location offer significant potential for substantial returns. The asking price is $3,250,000. Don't miss this chance to capitalize on the growth and potential of this dynamic area. The property is located at 0 NW 159th/Parker St, Homer Glen, IL 60491, in Will County.

    Property Features for 0 159Th St

    General Information

    Property type
    Land
    Lot Size
    217,800 SF

    HighLights

    • $3,250,000 asking price.
    • 5‑5.99 acre commercial land parcel.
    • High‑visibility corner lot at the signalized intersection of W 159th Street and Parker Road in Homer Glen, IL.
    • Excellent location for restaurant or similar commercial development.
    • Minutes from I‑355 and situated on a newly expanded four‑lane highway.
    • Frontage on both Parker Road and 159th Street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Homer Glen
    County
    Will
    State
    Illinois
    Longitude
    -87.9490273
    Latitude
    41.5996511

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    FAQs

    What type of property is this?
    Land - Prime Commercial Land, High Visibility, I-355 Access
    Where is this land located?
    The property is located at 159Th St Homer Glen, IL.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: $3,250,000 asking price.; 5-5.99 acre commercial land parcel.; High-visibility corner lot at the signalized intersection of W 159th Street and Parker Road in Homer Glen, IL.
    (708) 301-4700
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    159Th St Homer Glen, IL 60491
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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
    159Th St Homer Glen, IL 60491
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