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    23550 Vetter Rd Elwood, IL 60421

    • Commercial real estate
    • 27.30 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 23550 Vetter Rd

    Year built
    1999
    Lot size
    27.30 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 27.3-acre commercial/industrial land opportunity presents an unparalleled investment prospect. Strategically located in Elwood, Illinois, this property boasts approximately 960 feet of frontage on Vetter Road (now Houbolt Road), directly benefiting from the recently opened Houbolt Road bridge extension (March 2023). Situated within the CenterPoint Intermodal Center corridor, this site offers immediate access to major transportation arteries, making it ideal for logistics, warehousing, and trucking-related businesses. The property comprises two parcels and includes a two-story home and a 2.94-acre pond, which can be filled in to accommodate future development plans. The pond was personally installed by the current owner for recreational purposes. The annexation to Joliet further enhances the property's value and development potential. This prime location, coupled with its significant size and direct access to the Houbolt Road bridge, ensures exceptional visibility and accessibility for any commercial or industrial enterprise. The immeasurable commercial potential makes this a truly unique and highly sought-after opportunity.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elwood
    County
    Will
    State
    Illinois
    Longitude
    -88.1496
    Latitude
    41.4561

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    23550 Vetter Rd
    Elwood, IL 60421
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    Realmo Value Estimation

    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.

    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.

    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
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