Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land Adjacent to Retail Center Title is generated by Realmo AI

    NWQ North Ave and Grace Street, Lombard, IL 60148

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land with broad permitted uses and cross access.

    Type:Land
    Added:
    Nov 22, 2022
    Days on Market:
    1264
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for NWQ North Ave and Grace Street

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Rob Campbell

    Listing agent Rob Campbell License #IL 471006127

    Listing office Liberty Real Estate Group II, Inc.

    Listing date Nov 22, 2022

    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 Liberty Real Estate Group II, Inc.

    HighLights

    • Immediately adjacent to Starbucks endcap in a retail center.
    • B4 zoning allows for broadest permitted uses, including automotive and Mixed Use with residential.
    • Cross access from Grace Street to both CVS and the retail center.
    • Shared cross access from North Avenue.
    • Located in Lombard.
    • Part of an existing retail center.

    Overview

    The subject land is located immediately adjacent to the Starbucks endcap within a retail center. It benefits from cross access from Grace Street, shared by both a CVS and the retail center, as well as shared cross access from North Avenue. The property is zoned B4 in Lombard, which allows for the broadest range of permitted uses within that zoning category. These permitted uses include automotive and mixed-use developments with residential components.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Lombard
    County
    DuPage
    State
    Illinois
    Longitude
    -88.0172
    Latitude
    41.8742

    Nearby Similar for Sale

    • $324,999

      Residential Land in Lombard, Illinois

      Double lot suitable for building a dream house.
      2N161 Fairfield Avenue, Lombard, IL 60148
      View Details
    • $1,250,000

      Lombard Commercial Land For Sale

      Commercial land available in Lombard, Illinois.
      18W455 Roosevelt Road, Lombard, IL 60148
      View Details
    • $1,500,000

      Land For Sale in Lombard

      Four adjacent lots on Meyers Road in Lombard, Illinois.
      1152/1168 S Meyers Road, Lombard, IL 60148
      View Details
    • $150,000

      Residential Lot Near Downtown Lombard

      Build-ready 0.81-acre lot near downtown Lombard, Illinois.
      114 N Columbine Avenue, Lombard, IL 60148
      View Details
    • $185,000

      Downtown Lombard Commercial Land Parcel

      Highly visible commercial land in downtown Lombard, next to Prairie Path.
      324 S Main Street, Lombard, IL 60148
      View Details
    • $150,000

      Established Halal Restaurant Business

      Turnkey restaurant business opportunity in a prime Lombard location.
      908 E Roosevelt Road, Lombard, IL 60148
      View Details
    • $260,000

      Residential Lot in Lombard, Illinois

      Residential lot in Lombard near downtown, Metra, and expressways.
      1901 S Main Street, Lombard, IL 60148
      View Details
    • $975,000

      Prime Commercial Land Opportunity

      1.77-acre commercial land parcel in a highly desirable Lombard location.
      250 St Regis, Lombard, IL 60148
      View Details
    • $359,000
      2,166 SF

      Lombard Office Building Investment

      2,166 SF vacant building in thriving Lombard business district.
      315 S Main St, Lombard, IL 60148
      View Details
    • $259,000

      Residential Land Near Downtown Lombard

      Residential lot for custom home construction near downtown Lombard.
      471 S Garfield Terrace, Lombard, IL 60148
      View Details
    • $275,000

      Land Opportunity in Lombard, Illinois

      Exceptional land available in Lombard, with potential lot purchase options.
      1171 S School Street, Lombard, IL 60148
      View Details
    • $249,000

      Lombard Lot in Prime Location

      Rare 87-foot wide lot near downtown Lombard.
      451 S Garfield Terrace, Lombard, IL 60148
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with broad permitted uses and cross access.
    Where is this commercial land located?
    The property is located at NWQ North Ave and Grace Street Lombard, IL.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: Immediately adjacent to Starbucks endcap in a retail center.; B4 zoning allows for broadest permitted uses, including automotive and Mixed Use with residential.; Cross access from Grace Street to both CVS and the retail center.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rob Campbell
    Real Estate License ID: IL 471006127
    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
    NWQ North Ave and Grace Street, Lombard, IL 60148
    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!