Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16902 Dixie Hwy Hazel Crest, IL 60429

    • Mobile home & RV parks
    • 1.43 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hazel Crest Mobile Home Community / Mobile Home Park

    Property Details for 16902 Dixie Hwy

    Year built
    1981
    Lot size
    1.43 lot acres
    Property type
    Mobile home & RV parks

    Description

    This 25-unit mobile home park, situated on 1.43 acres in Hazel Crest, Illinois (60429), presents a compelling investment opportunity. Built in 1981, the property boasts city water and sewer services, with water, sewer, and trash expenses passed on to residents. Currently operating at 44% occupancy, the park averages $507 in monthly lot rent. Its strategic location offers easy access to Interstate 80 and the Tri-State Tollway, providing convenient access throughout the Chicagoland area. A significant advantage is its proximity—a 5-minute drive—to a newly constructed 850,000 sq ft Amazon fulfillment center (Amazon IGQ1), bringing 3,000 new jobs to the area. The park is located 25 miles south of Chicago within a densely populated residential area. The asking price is $590,000. Significant value appreciation potential exists through increased occupancy and lot rent adjustments. This property offers a unique blend of established infrastructure and high growth potential in a rapidly developing region. The address is 16902 Dixie Hwy, Hazel Crest, IL.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Crest
    County
    Cook
    State
    Illinois
    Longitude
    -87.6658
    Latitude
    41.5819

    Comparable in this City

    • Value Estimation
      $455,000
      2,352 SF

      1929 171st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,352 SF
      1929 171st St, East Hazel Crest, IL 60429-1327
      View Details
    • Value Estimation
      $420,000
      4,372 SF

      17305 Lathrop Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,372 SF
      17305 Lathrop Ave, East Hazel Crest, IL 60429-2600
      View Details
    • Value Estimation
      $365,000
      2,352 SF

      1823 171st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,352 SF
      1823 171st St, East Hazel Crest, IL 60429-1597
      View Details
    • Value Estimation
      $335,000
      2,339 SF

      16935 Page Ave, Unit 3

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,339 SF
      16935 Page Ave, Hazel Crest, IL 60429-1467
      View Details
    • Value Estimation
      $500,000
      0.07 Acres

      1722 170th St

      GARDEN APT, COURT APT (5+ UNITS) • 0.07 Acres
      1722 170th St, Hazel Crest, IL 60429-1462
      View Details
    • Value Estimation
      $355,000
      2,352 SF

      1907 171st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,352 SF
      1907 171st St, East Hazel Crest, IL 60429-1327
      View Details

    Similar Nearby for Sale

    • $190,000
      1,350 SF

      Luxury Condo in Adult Community

      Renovated 2-bedroom, 2-bath condo in Hazel Crest's Waters Edge.
      3505 Lakeview Dr, Hazel Crest, IL 60429
      View Details
    • $240,000

      Move-in Ready Home with Amenities

      3 bed, 2.5 bath home in Homewood Flossmoor school district.
      18650 Golfview Dr, Hazel Crest, IL 60429
      View Details
    • $900,000
      13,250 SF

      Hazel Crest Grocery Store Investment

      High-traffic grocery store, excellent ROI.
      3500 183Rd St, Hazel Crest, IL 60429
      View Details
    • $1,555,000
      18.00 Acres

      Hazel Crest Commercial Land - 18 Acres

      Prime 18-acre commercial lot in Hazel Crest, IL.
      175th St, Hazel Crest, IL 60429
      View Details
    • $400,000
      6.81 Acres

      Medical Office Condo Near Hospital

      Medical office condo with separate entry near Advocate South Hospital.
      3330 W 177Th St, Hazel Crest, IL 60429
      View Details
    • $30,000
      0.06 Acres

      Hazel Crest Commercial Opportunity

      Commercial property in Hazel Crest, IL, ready for renovation.
      1739 W 170Th St, Hazel Crest, IL 60429
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      42,946 SF

      Fountainbleau Court Retail Space

      Hazel Crest, IL shopping center opportunity.
      3400- 183Rd St, Hazel Crest, IL 60429
      View Details
    • $18 SF/Yr
      1,378 SF

      Retail Space on 183rd Street

      Retail spaces available in Hazel Crest shopping center.
      3400-3480 W 183Rd St, Hazel Crest, IL 60429
      View Details
    • $18 SF/Yr
      3,180 SF

      Retail Space Near Metra Station

      Retail space with high traffic exposure near Calumet Metra Station.
      17499 Dixie Hwy, East Hazel Crest, IL 60429
      View Details
    • $1,835,000
      930 SF

      Hazel Crest Office Space Available

      Well-located office property with recent renovations and ample parking.
      17500-17508 E Carriageway Dr, Hazel Crest, IL 60429
      View Details
    • Contact for pricing

      Medical Office Near Advocate Hospital

      First-floor medical office condo near Advocate South Suburban Hospital.
      3330 W 177Th St, Hazel Crest, IL 60429
      View Details
    • $9 SF/Yr
      83,800 SF

      Hazel Crest Retail Center Investment

      Grocery-anchored strip center with 13 spaces.
      17503 Kedzie Ave, Hazel Crest, IL 60429
      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.
    16902 Dixie Hwy
    Hazel Crest, IL 60429
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.