Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    10209 Smythe ave . & 716 Russ St. Machesney Park, IL 61115

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    One acre retail/commercial land near major retailers.

    Type:Land
    Lot size:
    1.00 Acre
    Added:
    Mar 17, 2021
    Days on Market:
    1861
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 10209 Smythe ave . & 716 Russ St.

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    Land

    We can help!

    Listing Contact
    Karen Walsh

    Listing agent Karen Walsh License #IL 471015351

    Listing office CBRE

    Listing date Mar 17, 2021

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE

    Overview

    Retail/Commercial Acreage Opportunity

    This one-acre commercial land parcel presents a retail/commercial development opportunity. The property is located in close proximity to Machesney Park’s main retail corridor along West Lane Rd. (Rte. 173). The surrounding area features prime retailers including Target, Kohl’s, Home Depot, Lowes, Michael’s, Ulta, Famous Footwear, Hobby Lobby and Ross Dress for Less. The site is also located minutes away from residential neighborhoods and schools. Parcel numbers are 08-20-102-008 & 08-20-102-009.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Machesney Park
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0409
    Latitude
    42.3589

    Nearby Similar for Sale

    • $3,000,000

      Profitable Gas Station Opportunity

      Thriving gas station with strong sales and additional income.
      11225 N 2nd Street, Machesney Park, IL 61115
      View Details
    • $65,000

      Machesney Park Wooded Lot

      1.05 acre wooded lot in established Machesney Park neighborhood.
      909 Darwin, MACHESNEY PARK, IL 61115
      View Details
    • $995,000
      22,000 SF

      Adaptable Office and Industrial Facility

      22,000 SF facility with office and industrial adaptability.
      9942 N Alpine Rd, Machesney Park, IL
      View Details
    • $1,938,000
      3,000 SF

      Drive-Thru Church’s Chicken Investment Property

      NNN leased Church’s Chicken in Machesney Park, Illinois.
      1586 W Lane Rd, Machesney Park, IL
      View Details
    • $31,500

      Residential Lot in Growing Community

      Spacious 0.35-acre lot for a dream home.
      XXXX BRENTWOOD, MACHESNEY PARK, IL 61115
      View Details
    • Contact for pricing
      1 SF

      Machesney Park Retail Development Opportunity

      One acre commercial land parcel near retail corridor for sale.
      10209 Smythe Avenue, Machesney Park, IL, 61115
      View Details
    • $1,280,664

      Vacant Land For Sale

      Vacant land available on Frontage Road.
      701 RUSS Avenue, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      21,912 SF

      Machesney Park Warehouse For Sale

      21,912 SF warehouse with proximity to major routes.
      9620 Forest Hills Rd, Machesney Park, IL 61115
      View Details
    • $75,000

      Machesney Park Homesite Near River

      1.7 acre homesite near Rock River with city water.
      10313 VENTURA, MACHESNEY PARK, IL 61115
      View Details
    • $2,950,000
      30,090 SF

      Machesney Park Flex/Office Asset

      Flex/office asset in Machesney Park with income potential.
      4055 Steele Dr., Machesney Park, IL 61115
      View Details
    • $220,000
      4,364 SF

      Machesney Park Commercial Property

      Commercial property in Machesney Park with high visibility.
      7836 N 2nd St, Machesney Park, IL
      View Details
    • Contact for pricing
      30,000 SF

      Machesney Park Industrial Asset

      30,000 SF industrial space ideal for warehousing and logistics.
      9628 Forest Hills Rd, Machesney Park, IL
      View Details

    FAQs

    What type of property is this?
    Commercial land - One acre retail/commercial land near major retailers.
    Where is this commercial land located?
    The property is located at 10209 Smythe ave . & 716 Russ St. Machesney Park, IL.
    What are key features of this property?
    This property features: Prime retail/commercial development opportunity.; Excellent location near Machesney Park's main retail corridor (West Lane Rd./Rte. 173).; Surrounded by major retailers: Target, Kohl’s, Home Depot, Lowes and more.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Karen Walsh
    Real Estate License ID: IL 471015351
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!