Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    27065 Rte Round Lake Beach, IL 60073
    Back to Search
    Property profile & analytics

    27065 Rte Round Lake Beach, IL 60073

    View on Map
    • Land
    • 34.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 27065 Rte

    Lot size
    34.70 lot acres
    Property type
    Land

    Description

    This exceptional 34.7-acre commercial land parcel presents a remarkable development opportunity in the rapidly growing Volo, Illinois area of Lake County. Located at 27065 W Route 120, this property boasts a highly desirable location with excellent visibility and accessibility. The land is comprised of five lots (one sliver lot and four contiguous lots), offering flexibility for various development scenarios. The property features two signalized corners at the intersection of Route 120 and Gilmer Road, and Gilmer Road and Ellis Drive, ensuring high traffic exposure. With an average household income of $102,548 within a one-mile radius, this site offers a strong demographic profile for commercial development. Route 120 sees approximately 22,000 cars daily. The property is zoned AG and is situated less than two blocks from a newly constructed 244,000 square foot Woodman's store, along with other new commercial developments including Buenos Beef, Chipotle, and Starbucks. The asking price is $3,763,715, with a land value of $2.49 per square foot. The APN numbers are 09-03-200-095, 09-03-400-013, 09-03-200-096, and 09-02-300-026. This is a truly exceptional opportunity for investors and developers seeking a prime location in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Round Lake Beach
    County
    Lake
    State
    Illinois
    Longitude
    -88.0819
    Latitude
    42.3693

    Comparable in this City

    • Value Estimation by Request
      11.00 Acres

      Rollins Rd

      Land • 11.00 Acres
      0 Rollins Rd, Round Lake Beach, IL 60073
      View Details
    • Value Estimation by Request
      9.86 Acres

      Us Highway 12

      Land • 9.86 Acres
      0 Us Highway 12, Round Lake, IL 60073
      View Details
    • Value Estimation by Request
      4.00 Acres

      23403 Il-120

      Land • 4.00 Acres
      23403 Il-120, Round Lake, IL 60073
      View Details
    • Value Estimation by Request
      3.60 Acres

      Nippersink Ave

      Land • 3.60 Acres
      0 Nippersink Ave, Round Lake, IL 60073
      View Details
    • Value Estimation by Request
      5.50 Acres

      Rollins Rd

      Land • 5.50 Acres
      0 Rollins Rd, Round Lake Beach, IL 60073
      View Details
    • Value Estimation by Request

      Magna Dr

      Land
      0 Magna Dr, Round Lake, IL 60073
      View Details

    Similar Nearby for Sale

    • $1,600,000

      Lake County Development Opportunity

      20 acres with development potential in Lake County, Illinois.
      Round, Round Lake, IL 60073
      View Details
    • Contact for pricing
      0.11 Acres

      Round Lake Beach Buildable Lot

      Buildable lot in Round Lake Beach, utilities nearby.
      412 Woodland Dr, Round Lake Beach, IL 60073
      View Details
    • Contact for pricing

      9.86 Acres For Sale

      9.86 acres near Volo Car Museum and Woodman's Market.
      30943 N Us Highway 12, Volo, IL 60073
      View Details
    • $175,000
      0.30 Acres

      Round Lake Development Opportunity

      Three lots near Round Lake, ready for development.
      407 Greenwood Dr, Round Lake, IL 60073
      View Details
    • Contact for pricing

      Commercial Parcel in Madrona Village

      4-acre commercial parcel suitable for various development projects.
      23403 Il-120, Round Lake, IL 60073
      View Details
    • $35,000
      0.14 Acres

      Vacant Land in Round Lake

      Vacant parcel in Round Lake Beach with development potential.
      1110 N Fairfield Rd, Round Lake Beach, IL 60073
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Acre Site on Route 12

      Approximately 1 acre site with high traffic volume.
      31827 North Us Highway 12, Volo, IL 60073
      View Details
    • Contact for pricing

      Acre Site on Route 12

      Approximately one acre site with high traffic volume.
      31827 Us Highway 12, Volo, IL 60073
      View Details
    • $18 SF/Yr

      Retail Space in Eagle Creek Plaza

      Retail spaces available in busy Round Lake Beach shopping center.
      300-400 West Rollins Rd, Round Lake Beach, IL 60073
      View Details
    • Contact for pricing
      50,094 SF

      Industrial Building in Round Lake

      Freestanding industrial building with heavy power and loading dock.
      703 Sunset Dr, Round Lake, IL 60073
      View Details
    • Contact for pricing

      Professional/Medical Office Space Available

      Professional and medical office suites available for lease.
      2 E Rollins Rd, Round Lake Beach, IL 60073
      View Details
    • $18 SF/Yr
      5,487 SF

      Retail Space in Round Lake

      Retail space with high visibility and national co-tenants.
      300 W Rollins Rd, Round Lake Beach, IL 60073
      View Details
    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.
    27065 Rte
    Round Lake Beach, IL 60073
    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
    27065 Rte, Round Lake Beach, IL, 60073
    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!