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    5 Towne Centre Dr North Aurora, IL 60542
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    5 Towne Centre Dr, North Aurora, IL 60542

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    • Land
    • 2.13 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5 Towne Centre Dr

    Lot size
    2.13 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 2.13-acre commercial land parcel enjoys unparalleled visibility from I-88 in North Aurora, Illinois, situated within the thriving North Aurora Towne Center. Zoned B2 PUD, it's ideally suited for a diverse range of uses, including retail, restaurants, entertainment, recreation, or office space. The property boasts superb access and visibility, benefiting from its location near the Orchard Road exit. The surrounding area is anchored by major retailers like Target, JCPenney, and Petco, along with the North Aurora Auto Mall and numerous corporate headquarters, including Kraft, Nestle, and DHL. Utilities are readily available, and off-site storm water management is in place. This presents a unique opportunity for developers seeking a high-traffic location with strong existing infrastructure. The site is one of five available parcels ranging from 1.8 to 11.9 acres, offering flexibility for various development scales. The asking price is $463,914, with a land value of $5 per square foot. The property is located at Lot 5 Towne Center Dr, North Aurora, IL 60542, in Kane County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3599
    Latitude
    41.7963

    Comparable in this City

    • Value Estimation by Request
      5.98 Acres

      1 Towne Centre Dr

      Land
      1 Towne Centre Dr, North Aurora, IL 60542
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      3.74 Acres

      209 Lincolnway

      Multifamily properties
      209 Lincolnway, North Aurora, IL 60542
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    • Value Estimation by Request
      11.96 Acres

      1 Orchard Gateway Blvd

      Land
      1 Orchard Gateway Blvd, North Aurora, IL 60542
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    • Value Estimation by Request
      1.77 Acres

      13 Towne Centre Dr

      Land
      13 Towne Centre Dr, North Aurora, IL 60542
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    • Value Estimation by Request
      5.89 Acres

      16W - Orch Gtwy Blvd

      Land
      16W - Orch Gtwy Blvd, North Aurora, IL 60542
      View Details
    • Value Estimation by Request
      3.55 Acres

      Orchard Gateway Blvd

      Land
      0 Orchard Gateway Blvd, North Aurora, IL 60542
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      39,500 SF

      Lincolnway Commercial Center For Sale

      39,500 SF commercial center near I-88/Route 31 interchange.
      209 S Lincolnway, North Aurora, IL 60542
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      North Aurora Development Land

      11.96 acres of B2 PUD zoned land for development.
      1 N Orchard Gateway Blvd, North Aurora, IL 60542
      View Details
    • Contact for pricing

      3.55 Acre Commercial Land

      3.55 acres of B2 PUD zoned commercial land.
      Orchard Gateway Blvd, North Aurora, IL 60542
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      Commercial Land Near Orchard Road

      Commercial land for sale near I-88 and Orchard Road.
      Wy Garden Way, North Aurora, IL 60542
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      Commercial Land Near I-88

      Commercial land for sale, close to I-88 highway.
      Orch Rd & Gdn Way, North Aurora, IL 60542
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    • $1,750,000

      Commercial Land on Oak Street

      Commercial land available on Oak Street in North Aurora.
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    Similar Nearby for Lease

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      North Aurora Warehouse Sublease Opportunity

      Warehouse space available for sublease in North Aurora, Illinois.
      313-325 Airport Rd, North Aurora, IL 60542
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      439,380 SF

      North Aurora Build-to-Suit Warehouse

      439,380 SF build-to-suit warehouse with immediate I-88 access.
      302 Mitchell Rd, North Aurora, IL 60542
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    • Contact for pricing
      596,950 SF

      Aurora Industrial Build-to-Suit Opportunity

      596,950 SF build-to-suit with I-88 access and highway frontage.
      400 Mitchell Rd, Aurora, IL 60542
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    • Contact for pricing
      18,500 SF

      Industrial Campus with Storage

      Multi-building campus with truck/trailer parking and I-88 access.
      472-500 Clearwater Dr, North Aurora, IL 60542
      View Details
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    North Aurora, IL 60542
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    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
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