Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Prague Avenue lot #24 Buffalo Grove, IL 60089

    View on Map
    Claim this Listing
    For Sale
    $135,000

    LAND - Buffalo Grove, IL

    Added:
    Aug 20, 2025
    Days on Market:
    261
    Last Refresh:
    May 7 at 6:06 pm

    Property Features for Prague Avenue lot #24

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SINGL
    Standard status
    Active
    APN
    15353020250000

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    3321

    We can help!

    Listing Contact
    Nadine Pomilia
    Nadine Pomilia

    Listing agent Nadine Pomilia License #475125357

    Listing office RE/MAX Suburban 444 S. Rand Road Ste 103 Ste 103, Mount Prospect, IL

    Listing date Aug 20, 2025

    MLS# 12449525 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare vacant lot in Buffalo Grove, offering a unique opportunity to build a custom home.
    • Located in an award‑winning school and park district.
    • Close proximity to Chevy Chase Country Club.
    • Utilities available at the street, simplifying the building process.
    • Excellent location with convenient access to shopping, restaurants, schools, parks, and expressways.
    • Mature trees on the property, enhancing its aesthetic appeal.

    Overview

    Vacant Lot in Buffalo Grove

    This vacant lot in Buffalo Grove is a rare find, situated close to Chevy Chase Country Club. The property features mature trees and is located within a subdivision of custom homes. Award-winning school and park districts serve the area. Utilities are available at the street. This location provides convenient access to shopping, restaurants, schools, parks, expressways, and other amenities. The property is located in Lake County, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Buffalo Grove
    County
    Lake
    State
    Illinois
    Longitude
    -87.917712
    Latitude
    42.156957

    Nearby Similar for Sale

    • $48,000

      Established Salon Business Opportunity

      Turnkey salon business for sale in prime location.
      1101 Weiland Road, Buffalo Grove, IL 60089
      View Details
    • $1,350,000

      Turnkey Office Building in Buffalo Grove

      15,020 SF office building on 1 acre for sale.
      1477 Barclay Boulevard, Buffalo Grove, IL 60089
      View Details
    • $299,000

      Renovated Professional Building For Sale

      Renovated professional building on 0.46 acres, ideal for various uses.
      275 W Dundee Road, Buffalo Grove, IL 60089
      View Details
    • $200,000

      Prime Buffalo Grove Land Parcel

      3.22-acre lot in Buffalo Grove, build your dream home.
      17053 W Aptakisic Road, Buffalo Grove, IL 60089
      View Details
    • $25
      64,860 SF

      Medical Office Building in Buffalo Grove

      64,860 SF medical office building with customizable suites.
      1450 Busch Pky, Buffalo Grove, IL 60089
      View Details
    • $1,800,000
      2,000 SF

      Office Condo Units For Sale

      Three office condo units available for sale or lease.
      325-333 W Dundee Road Buffalo Grove, IL 60089
      View Details
    • $1,800,000
      7,594 SF

      Dundee Road Office Condo Portfolio

      Four office condo units available for sale in Buffalo Grove.
      321-333 W Dundee Road, Buffalo Grove, IL 60089
      View Details
    • Contact for pricing

      Lazy Dog Ground Lease Opportunity

      20-year absolute net ground lease with rental increases.
      51 Mchenry Rd, Buffalo Grove, IL 60089
      View Details
    • $159,900
      12,000 SF

      Turnkey Restaurant Business For Sale

      Well-established restaurant business with consistent revenue in prime location.
      1000-1034 Weiland Rd, Buffalo Grove, IL
      View Details
    • Contact for pricing
      208,842 SF

      Buffalo Grove Warehouse Available

      208,842 SF building with 24' clear height.
      1400 Busch Parkway, Buffalo Grove, IL 60089
      View Details
    • $1,600,000
      83,635 SF

      Prime Land Near Lake Cook

      Commercial land available near Lake Cook Road and luxury apartments.
      275 Milwaukee Avenue, Buffalo Grove, IL, 60089
      View Details
    • $2,150,000
      2,000 SF

      4 Office Condo Units For Sale

      Portfolio opportunity: four office condos, each 2,000± SF, for sale.
      321-333 W Dundee Road, Buffalo Grove, IL 60089
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Rare vacant lot near Chevy Chase Country Club.
    Where is this residential land & home lot located?
    The property is located at Prague Avenue lot #24 Buffalo Grove, IL.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: Rare vacant lot in Buffalo Grove, offering a unique opportunity to build a custom home.; Located in an award‑winning school and park district.; Close proximity to Chevy Chase Country Club.
    (847) 529-1148
    We can help!
    Listing Contact
    Nadine Pomilia
    Nadine Pomilia
    Real Estate License ID: 475125357
    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
    Prague Avenue lot: #24, Buffalo Grove, IL 60089
    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!