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    1264 State St Lemont, IL 60439

    Sponsored
    For Sale
    $1,500,000

    Lemont, IL Retail Land Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 24,156 square foot outlot at Centennial Plaza in Lemont, Illinois, presents a prime retail development opportunity. Located at 1264 State St, 60439, this Jewel-Osco anchored property boasts high visibility in a prime retail corridor along 127th and State Street. The 15-unit strip center enjoys 100% occupancy with a strong tenant mix including national and local businesses such as ATI Physical Therapy, Hair Cuttery, Anytime Fitness, and more. Development options range from approximately 2,000 to 9,800 square feet, with the possibility of a drive-thru, subject to association approval. The site benefits from a signalized intersection and easy access to I-355 and I-55, as well as the Heritage Corridor Metra Line. The surrounding area has a population exceeding 25,335 with an average household income over $119,700 within a 3-mile radius, making it an ideal location for fast food, QSR, medical, dental, or other retail uses. The property is offered for sale or ground lease for $1,500,000. This location is approximately 25 miles southwest of Chicago and situated along the Illinois and Michigan Canal.

    Property Features for 1264 State St

    General Information

    Property type
    Land

    HighLights

    • 24,156 SF outparcel at Centennial Plaza.
    • Centennial Plaza: A 100% occupied, jewel‑anchored shopping center.
    • Development opportunity: 2,000‑9,800 SF available.
    • Drive‑thru‑capable site at a signalized intersection.
    • Subject to association approval; minutes from I‑355.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fork & Spoon Cafe Breakfast Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lemont
    County
    Cook
    State
    Illinois
    Longitude
    -87.9998582
    Latitude
    41.6544214

    Nearby Comparable

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    Nearby Similar for Sale

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      Established Nail Salon For Sale

      High-traffic nail salon with steady income and strong customer base.
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    • $474,900
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      Spacious Townhome in Ashbury Woods

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    • New
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      Retail Property in Downtown Lemont

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    • Contact for pricing
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      Lemont Warehouse/Industrial Property For Sale

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      Lemont Office Condo: Prime Location

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    FAQs

    What type of property is this?
    Land - Lemont, IL Retail Land Opportunity
    Where is this land located?
    The property is located at 1264 State St Lemont, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 24,156 SF outparcel at Centennial Plaza.; Centennial Plaza: A 100% occupied, jewel-anchored shopping center.; Development opportunity: 2,000-9,800 SF available.
    Request Owner's contact information
    1264 State St Lemont, IL 60439
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    Lemont, IL 60439
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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
    1264 State St Lemont, IL 60439
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