Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land Near Galena Title is generated by Realmo AI

    TBD Gig Drive Lot 24, Galena, IL 61036

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land - GALENA, IL

    Lot size:
    0.95 Acres
    Added:
    Jan 5, 2026
    Days on Market:
    138
    Last Refresh:
    May 23 at 4:06 pm

    Property Features for TBD Gig Drive Lot 24

    General Information

    Property type
    Land
    Property subtype
    Other
    Interior features
    County Taxes
    Standard status
    Active
    APN
    1000023981
    Lot size
    0.95 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    454

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Peter Brennan

    Listing agent Peter Brennan License #471008765

    Listing office COLDWELL BANKER NETWORK REALTY 401 S MAIN ST., Galena, IL

    Listing date Jan 5, 2026

    MLS# 202600065 Listing URL

    Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located only 3 miles from Galena and Highway 20.
    • Access to the Sinsinawa River for kayaking/canoeing to the Mississippi River.
    • Homesite 23 features a gentle slope, open approach, and wooded backdrop.
    • High‑speed fiber internet available.
    • Seller will consider selling three homesites (22, 23 & 24) as a package.
    • Residential community with covenants and restrictions in place.

    Overview

    This 0.95-acre residential homesite is located approximately 3 miles from Galena and Highway 20, in the Coursen's Landing residential community. The property, identified as Homesite 23, features a gentle slope, an open approach, and a wooded backdrop. New owners will be responsible for utility hookups, including high-speed fiber, well, and septic upon building. The Coursen's Landing Covenants and Restrictions apply. The Sinsinawa River provides access for launching kayaks or canoes to the Mississippi River. The seller will consider selling all three homesites (22, 23 & 24) as a package.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Galena
    County
    Jo Daviess
    State
    Illinois
    Longitude
    -90.4933498
    Latitude
    42.4352673

    Nearby Similar for Sale

    • $13,500

      Residential Lot in Galena Territory

      0.63 acre lot in Galena Territory resort area.
      5 Washburne Ln, GALENA, IL 61036
      View Details
    • $24,000

      Residential Land Near Owners Club

      1.53 acre lot near Owners Club in Galena, Illinois.
      20 Wagoner, GALENA, IL 61036
      View Details
    • $120,000

      Land Near Galena Recreation Park

      Nearly 8 acres of land with potential home building sites.
      8244 Creek Crossing, GALENA, IL 61036
      View Details
    • $21,500

      Land in Galena Territory

      Residential lot in Galena, IL with available utilities.
      1138 North Clark, GALENA, IL 61036
      View Details
    • $381,000

      2.65 Acres in Galena, IL

      2.65 acres near Gateway Park with city utilities.
      Lot 2 US Hwy 20 W, GALENA, IL 61036
      View Details
    • $449,500

      Land Within Galena City Limits

      39.61 acres in Galena, offering development and recreational opportunities.
      39.61 Acres +/- TBD Donegan, GALENA, IL 61036
      View Details
    • $15,000

      Scenic Homesite in Galena Territory

      0.76-acre homesite with potential views in Galena, IL.
      4 Peninsula, GALENA, IL 61036
      View Details
    • $30,000

      Galena Territory Buildable Homesite

      Buildable homesite with views and access to community amenities.
      3 Beacon Trail, Galena, IL 61036
      View Details
    • $58,000

      Golf View Lot in Galena

      0.69 acre golf view lot in The Galena Territory.
      137 W Glen Hollow, GALENA, IL 61036
      View Details
    • $54,900

      Commercial Land in Galena, IL

      1.17-acre commercial parcel ready for your business venture.
      Oldenburg Lane, Galena, IL 61036-0000
      View Details
    • $35,000

      Galena Territory Home Site

      1.15-acre lot in Galena Territory with access to amenities.
      16 Bayberry, GALENA, IL 61036
      View Details
    • $140,000

      Wooded Homesite in Galena Territory

      Secluded 1.84-acre homesite near Eagle Ridge Resort & Spa.
      14 Cinnamon, GALENA, IL 61036
      View Details

    FAQs

    What type of property is this?
    Land - Residential land 3 miles from Galena with wooded backdrop.
    Where is this land located?
    The property is located at TBD Gig Drive Lot 24 Galena, IL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Located only 3 miles from Galena and Highway 20.; Access to the Sinsinawa River for kayaking/canoeing to the Mississippi River.; Homesite 23 features a gentle slope, open approach, and wooded backdrop.
    (815) 238-2878
    We can help!
    Listing Contact
    Peter Brennan
    Real Estate License ID: 471008765
    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
    TBD Gig Drive (Lot 24), GALENA, IL 61036
    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!