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    16224 Cicero Ave Oak Forest, IL 60452

    Sponsored
    For Sale
    $550,000

    Oak Forest, IL commercial lot, 0.92 acres.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.92-acre commercial and industrial land parcel, located at 16224 S Cicero Ave in Oak Forest, Illinois (zip code 60452), presents a prime development opportunity. Zoned C3, this property boasts 350 feet of frontage on busy Cicero Avenue, offering excellent street visibility and high traffic counts. The site, currently featuring a chain link fence and grass/gravel landscaping, has all utilities readily available. Its strategic location across from the Oak Forest Health Center and Heritage Forest Preserve, and near the Midlothian Reservoir, ensures high visibility and accessibility. The lot's proximity to major highways and train stations further enhances its appeal. While conceptual renderings for potential development exist, the property's versatility allows for a wide range of uses, including but not limited to car washes, tire/oil change facilities, and other commercial ventures. The property is situated just north of 163rd Street, half a mile south of the 159th/Cicero intersection, on the west side of the street. A residential neighborhood is located behind the lot, and neighboring businesses include mechanics. The asking price for this remarkable opportunity is $550,000. This is a 40,250 square foot site ready for your vision.

    Property Features for 16224 Cicero Ave

    General Information

    Property type
    Land
    Lot Size
    40,075 SF

    HighLights

    • 0.92‑acre (40,250 SF) commercial/industrial lot in Oak Forest, IL.
    • Currently features grass/gravel landscaping and a chain link fence.
    • All utilities available on‑site.
    • Residential neighborhood to the rear; neighboring businesses include auto repair shops.
    • 350 feet of frontage on Cicero Avenue.
    • Convenient access to major highways and train stations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Oak Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.736344029994
    Latitude
    41.596939470327

    Nearby Comparable

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    FAQs

    What type of property is this?
    Land - Oak Forest, IL commercial lot, 0.92 acres.
    Where is this land located?
    The property is located at 16224 Cicero Ave Oak Forest, IL.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 0.92-acre (40,250 SF) commercial/industrial lot in Oak Forest, IL.; Currently features grass/gravel landscaping and a chain link fence.; All utilities available on-site.
    Request Owner's contact information
    16224 Cicero Ave Oak Forest, IL 60452
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    Oak Forest, IL 60452
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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
    16224 Cicero Ave Oak Forest, IL 60452
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