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    22771 Frontage Rd Channahon, IL 60410

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    For Lease
    Contact for pricing

    Channahon, IL Commercial Land for Sale

    Lot size:
    871,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional commercial land parcel, located at 22771 S Frontage Rd W in Channahon, Illinois (zip code 60410), offers a flexible acreage option ranging from 3 to 20 acres. Situated in Will County, this single-tenant property presents a unique opportunity for various commercial ventures. The property's prime location provides excellent visibility and accessibility, making it ideal for businesses requiring significant space and convenient access to major transportation routes, including the I-55 corridor. The land is designated for commercial use, offering a blank canvas for development tailored to specific business needs. With its expansive size and strategic location, this property is well-suited for a wide range of commercial applications, from large-scale storage facilities to industrial operations. The site's flat terrain simplifies development and minimizes site preparation costs. Utilities are available, although specific details should be verified independently. This is a rare opportunity to acquire a substantial land parcel in a thriving commercial area with significant growth potential. Serious inquiries are encouraged to explore the possibilities of this versatile property. The property is offered for sale and is ready for immediate development.

    Property Features for 22771 Frontage Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    871,200 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    871,200 SF

    HighLights

    • 3‑20 acre commercial land parcel available in Channahon, IL (60410).
    • Located on S Frontage Rd W with excellent I‑55 corridor access.
    • Will County location offers high visibility and accessibility.
    • Zoned for commercial use, ideal for various ventures (storage, industrial, etc.).
    • Flat terrain simplifies development and minimizes site prep costs.
    • Utilities available (buyer to verify).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Hotel & Motel Gym & Fitness Auto Parts Store Department Store Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Channahon
    County
    Will
    State
    Illinois
    Longitude
    -88.180760717317
    Latitude
    41.420526472206

    Nearby Comparable

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    Nearby Similar for Lease

    • Contact for pricing

      Trailer Stalls Near I-55 Access

      6.78-acre lot with 148 trailer stalls, immediate I-55 access.
      27353 S Frontage Rd E, Channahon, IL 60410
      View Details
    • $30,000
      5,000 SF

      Truck Terminal with Secured Yard

      5-acre truck terminal with 5,000 SF office space for lease.
      23937 S Northern Illinois Dr, Channahon, IL 60410
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    • Contact for pricing
      15,500 SF

      Channahon Industrial Buildings with Yard

      Two industrial buildings with yard space available for lease.
      24231 Riverside Dr, Channahon, IL 60410
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    • Contact for pricing
      14,000 SF

      Channahon Warehouse and Industrial Space

      Two buildings with yard space and convenient loading options available.
      24311 Riverside Dr, Channahon, IL 60410
      View Details
    • $13 SF/Yr
      1,200 SF

      Retail/Office Space on Route 6

      1,200 SF retail/office space with high visibility.
      24441 West Eames St, Channahon, IL 60410
      View Details
    • $15 SF/Yr
      1,100 SF

      Retail Space on Route 6

      Retail space with high visibility and ample parking available for rent.
      24447 W Eames St, Channahon, IL 60410
      View Details
    • Contact for pricing
      12,556 SF

      Channahon Warehouse Space Available

      12,556 SF warehouse space near I-55 and intermodal terminal.
      23348 W Eames St, Channahon, IL 60410
      View Details

    FAQs

    What type of property is this?
    Land - Channahon, IL Commercial Land for Sale
    Where is this land located?
    The property is located at 22771 Frontage Rd Channahon, IL.
    What are key features of this property?
    This property features: 3-20 acre commercial land parcel available in Channahon, IL (60410).; Located on S Frontage Rd W with excellent I-55 corridor access.; Will County location offers high visibility and accessibility.
    Request Owner's contact information
    22771 Frontage Rd Channahon, IL 60410
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    Channahon, IL 60410
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    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
    22771 Frontage Rd Channahon, IL 60410
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