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    489 Weber Rd Bolingbrook, IL 60490

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    489 Weber Rd Bolingbrook, IL 60490

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    • Neighborhood centers
    • 21,353 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 489 Weber Rd

    Year built
    1977
    Property size
    21,353 SF
    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    Concord Plaza, located at 489 S Weber Rd in Bolingbrook, IL 60490, offers exceptional retail space in a thriving neighborhood center. This 21,353 square foot property, built in 1977, is zoned commercial and situated in Will County. Two suites are currently available, with a minimum divisible space of 1,426 square feet and a maximum contiguous space of 1,885 square feet. A total of 3,770 square feet is currently vacant. The plaza enjoys a high-traffic location at the well-lit intersection of Weber Road and Hassert Boulevard, providing excellent visibility and strong traffic counts. Existing tenants include Dairy Queen, Subway, and Pita Zone, creating a vibrant and established retail environment. The property offers prominent storefront signage opportunities as well as monument signage, ensuring maximum brand exposure. This is an ideal opportunity for businesses seeking high visibility and a strong customer base in a busy Bolingbrook location. The property is easily accessible and benefits from the high traffic volume on Weber Road. This is a rare opportunity to secure retail space in a well-established center with strong existing tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bolingbrook
    County
    Will
    State
    Illinois
    Longitude
    -88.1271
    Latitude
    41.6831

    Comparable in this City

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      212,320 SF

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      14,000 SF

      1325-1343 Lily Cache Ln

      Individual retail properties • 14,000 SF
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    • Value Estimation by Request
      3.59 Acres

      1025 Weber Rd

      COMMERCIAL (GENERAL) • 3.59 Acres
      1025 Weber Rd, Bolingbrook, IL 60490-5614
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    • Value Estimation
      $26,455,000
      134.87 Acres

      1421 135th St

      COMMERCIAL (GENERAL) • 134.87 Acres
      1421 135th St, Bolingbrook, IL 60490-4983
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    • Value Estimation
      $640,000
      4,120 SF

      764 Weber Rd

      COMMERCIAL (GENERAL) • 4,120 SF
      764 Weber Rd, Bolingbrook, IL 60490-5472
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    • Value Estimation
      $585,000
      2,432 SF

      195 Weber Rd

      COMMERCIAL (GENERAL) • 2,432 SF
      195 Weber Rd, Bolingbrook, IL 60490-1504
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      10,000 SqFt retail space with 6.80% CAP rate.
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    Similar Nearby for Lease

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      2,800 SF

      Bolingbrook Retail Space For Lease

      Retail space available in well-located Bolingbrook shopping center.
      261-313 N Weber Rd, Bolingbrook, IL 60490
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      6,393 SF

      Freestanding Restaurant with Patio

      Equipped restaurant with parking and patio in populated area.
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      Bolingbrook Retail Space For Lease

      Multi-tenant retail building with excellent parking and monument signage.
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      Retail Space in Bolingbrook Center

      2,052 SF retail space in a busy Bolingbrook center.
      251 S Weber Rd, Bolingbrook, IL 60490
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      4,000 SF

      Retail Space in Bolingbrook Center

      Retail space available in high-traffic Bolingbrook shopping center.
      121-139 S Weber Rd, Bolingbrook, IL 60490
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    • Contact for pricing
      20,000 SF

      Bolingbrook Retail Space For Lease

      Retail space available in Bolingbrook, shadow-anchored by Meijer and Home Depot.
      153 N Weber Rd, Bolingbrook, IL 60490
      View Details
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    Bolingbrook, IL 60490
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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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    489 Weber Rd, Bolingbrook, IL, 60490

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