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    5510 Kenosha St Richmond, IL 60071

    Sponsored
    For Sale
    $340,000

    0.43-acre lot, prime downtown location

    Property size:
    19,166 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.43-acre vacant land parcel presents a unique investment opportunity in the thriving downtown Richmond, Illinois area. Located at 5510 Kenosha Street, this property boasts desirable access from Illinois Route 173, east of the heavily trafficked intersection of Routes 12 and 173. Its strategic position offers significant visibility and accessibility, benefiting from the high volume of traffic along this major corridor connecting Chicago to the popular Lake Geneva and Chain of Lakes region. The lot is adjacent to business zoning on the west and south sides (across the street), providing considerable development potential. Richmond's vibrant downtown district, known for its antique shops, retail stores, and restaurants, creates a dynamic and attractive environment for businesses. This area is experiencing a notable business boom, fueled by the growth of vacation-style retail and businesses. The property's location also benefits from its proximity to the Hunter Country Club and Richmond Hunting Club, catering to a diverse clientele. The asking price for this exceptional property is $340,000. The total square footage is 19,166. This is a rare opportunity to acquire a strategically located parcel in a rapidly growing area with high potential for significant return on investment. Don't miss this chance to secure a piece of Richmond's burgeoning commercial landscape.

    Property Features for 5510 Kenosha St

    General Information

    Property type
    Land
    Square Feet
    19,166 SF
    Lot Size
    18,731 SF

    HighLights

    • 0.43‑acre vacant land parcel in downtown Richmond, IL, priced at $340,000.
    • Located at 5510 Kenosha Street, with excellent visibility and access from IL Route 173, near Routes 12 and 173 intersection.
    • High‑traffic location on major corridor connecting Chicago and Lake Geneva.
    • Adjacent to business zoning, offering significant development potential.
    • Situated in Richmond's vibrant downtown, near antique shops, retail, and restaurants, experiencing business growth.
    • 19,166 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Building Supply Nail Salon Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    McHenry
    State
    Illinois
    Longitude
    -88.3048723
    Latitude
    42.4800554

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    FAQs

    What type of property is this?
    Land - 0.43-acre lot, prime downtown location
    Where is this land located?
    The property is located at 5510 Kenosha St Richmond, IL.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: 0.43-acre vacant land parcel in downtown Richmond, IL, priced at $340,000.; Located at 5510 Kenosha Street, with excellent visibility and access from IL Route 173, near Routes 12 and 173 intersection.; High-traffic location on major corridor connecting Chicago and Lake Geneva.
    Request Owner's contact information
    5510 Kenosha St Richmond, IL 60071
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    Richmond, IL 60071
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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
    5510 Kenosha St Richmond, IL 60071
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