Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    23 Acres on Fox River Title is generated by Realmo AI

    US-14, Cary, IL 60013

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Prime real estate on Illinois Route 14 in Cary, Illinois.

    Type:Land
    Lot size:
    23.00 Acres
    Added:
    Mar 19, 2024
    Days on Market:
    806
    Last Refresh:
    May 19 at 10:14 pm

    Property Features for US-14

    General Information

    Standard status
    Active
    Lot size
    23.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Ted Wagner

    Listing agent Ted Wagner License #IL

    Listing office Wagner Commercial LLC

    Listing date Mar 19, 2024

    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 Wagner Commercial LLC

    HighLights

    • Prime Location on Illinois Route 14 and the Fox River, offering high visibility and easy accessibility.
    • TIF District Inclusion provides financial incentives for development.
    • Nearly 12 Buildable Acres offers flexibility for various development projects.
    • Strong Community Growth suggests potential for increased property values.
    • Natural Beauty and Recreational Opportunities with the Fox River providing stunning views.
    • Attractive Price Point: Available for $3 million.

    Overview

    Located in Cary, Illinois, this 23-acre parcel of land is situated along the Fox River and Illinois Route 14. The property includes nearly 12 buildable acres and is located within a Tax Increment Financing (TIF) district, which can provide financial incentives for development, including funding for infrastructure improvements and potential property tax rebates. The Fox River provides views and recreational opportunities such as fishing, boating, and hiking. Cary is experiencing growth and development. The property benefits from high visibility and accessibility due to its location on Illinois Route 14. The property offers the flexibility needed to bring your vision to life, whether you envision residential housing, commercial spaces, or a mixed-use development. Considerable recent engineering and boring test has been completed on the property confirming the buildable acreage.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Cary
    County
    McHenry
    State
    Illinois
    Longitude
    -88.2351
    Latitude
    42.2198

    Nearby Similar for Sale

    • $840,000

      Land For Sale, Cary, IL

      Commercial land available in Cary, Illinois.
      Kaper Drive, Cary, IL 60013
      View Details
    • $157,000

      Heavily Wooded Cary Land

      1.8 acre wooded lot in Cary, Illinois.
      Newbold Road, Cary, IL 60013
      View Details
    • $599,832

      Commercial Land Near Retail

      1.97 acre commercial development land near established retailers.
      Lots 2-3 4 Northwest Highway, Cary, IL 60013
      View Details
    • $689,000
      8,280 SF

      Multi-Tenant Office Building For Sale

      8,280 SF multi-tenant office building with high visibility.
      10 W Main Street, Cary, IL 60013
      View Details
    • $149,900
      1,400 SF

      Route 14 Office/Retail Building

      1,400 SF office/retail building on busy Route 14.
      179-181 S NW Hwy, Cary, IL
      View Details
    • $99,900

      Waterfront Land on Fox River

      Waterfront land with private access, dock, and potential building.
      28876 W Pioneer Grove Road, Cary, IL 60013
      View Details
    • $979,000

      Commercial Land with Road Frontage

      6.67-acre commercial site with frontage on 3 roads.
      Three Oaks Road, Cary, IL
      View Details
    • $599,832

      Commercial Development Land on Route 14

      1.97 acres of commercial land available on Route 14.
      Us Route 14, Cary, IL
      View Details
    • $840,000
      137,650 SF

      Vacant Land Ready for Development

      3.16 acre vacant land suitable for retail or office.
      Kaper Dr, Cary, IL 60013
      View Details
    • Contact for pricing

      Prime Commercial Land Ready Development

      Development-ready land with frontage on Rt. 31.
      8415 Rt, Cary, IL
      View Details
    • Contact for pricing

      Prime Retail Development Land

      Multiple lots available for retail development with highway frontage.
      134 Northwest Hwy, Cary, IL 60013
      View Details
    • $599,832

      Commercial Development Land on Route 14

      1.97 acres of commercial development land on Route 14.
      Lots 2, 3, 4 Route 14, Cary, IL 60013
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime real estate on Illinois Route 14 in Cary, Illinois.
    Where is this commercial land located?
    The property is located at US-14 Cary, IL.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: Prime Location on Illinois Route 14 and the Fox River, offering high visibility and easy accessibility.; TIF District Inclusion provides financial incentives for development.; Nearly 12 Buildable Acres offers flexibility for various development projects.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ted Wagner
    Real Estate License ID: IL
    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

    Thank You for Inquiry
    US-14, Cary, IL 60013
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!