Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1400 Smith Rd Lemont, IL 60441
    Back to Search
    Property profile & analytics

    1400 Smith Rd Lemont, IL 60441

    View on Map
    • Land
    • 177,724 SF
    • 4.08 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1400 Smith Rd

    Lot size
    4.08 lot acres
    Property size
    177,724 SF
    Property type
    Land

    Description

    This exceptional 4.08-acre parcel, located at 1400 Smith Road in Lemont, Illinois (zip code 60441), presents a unique land banking opportunity. Situated on a 609' x 239' hard corner lot directly across from the Big Run Golf Course and north of a planned 500+ unit residential development, this property offers unparalleled potential. The site boasts a flat, clean parcel with minimal holding costs, reflected in annual property taxes under $100. Currently zoned AG, this land is ideally positioned for future development, benefiting from its proximity to major transportation arteries. The property's location provides convenient access to the I-355 (Archer) Interchange, Downtown Lemont, and Lockport. A Nicor easement runs along 135th Street. The property is currently unincorporated Lockport in DuPage Township. The asking price is $525,000, translating to $2.95 per square foot for the 177,724 square foot lot. This fee simple ownership offers significant upside potential given the anticipated growth in the surrounding area. The property's strategic location and low holding costs make it an attractive investment for long-term growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lemont
    County
    Cook/DuPage/Will
    State
    Illinois
    Longitude
    -88.0277
    Latitude
    41.6415

    Comparable in this City

    • Value Estimation by Request
      0.50 Acres

      1260 159Th St

      Land • 0.50 Acres
      1260 159Th St, Lockport, IL 60441
      View Details
    • Value Estimation by Request
      0.84 Acres

      602-604 7Th St

      Land • 0.84 Acres
      602-604 7Th St, Lockport, IL 60441
      View Details
    • Value Estimation by Request
      4.92 Acres

      15249 159Th St

      Land • 4.92 Acres
      15249 159Th St, Lockport, IL 60441
      View Details
    • Value Estimation by Request
      20.00 Acres

      13141 High Rd

      Warehouses • 20.00 Acres
      13141 High Rd, Lockport, IL 60441
      View Details
    • Value Estimation by Request

      2653 Briggs St

      Land
      2653 Briggs St, Lockport, IL 60441
      View Details
    • Value Estimation by Request
      6.63 Acres

      159th St And Thornton St

      Land • 6.63 Acres
      159th St And Thornton St, Lockport, IL 60441
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.15 Acres

      Lockport Land Package For Sale

      Vacant land package in Lockport, Illinois available for purchase.
      2141 California Ave, Lockport, IL 60441
      View Details
    • Contact for pricing
      45 SF

      Lockport Land Parcel For Sale

      45 acres of land available in Lockport, Illinois.
      14750 Archer Ave, Lockport, IL 60441
      View Details
    • Contact for pricing

      Land For Sale Lockport

      Land available on Dellwood Avenue, Lockport, Illinois.
      216 Dellwood Ave, Lockport, IL 60441
      View Details
    • $495,000

      9.13 Acres Vacant Land Lockport

      9.13 acres of vacant land in Lockport, Illinois.
      151 151 St, Lockport, IL 60441
      View Details
    • Contact for pricing

      Lockport Land Parcel For Sale

      4-acre land parcel in Lockport, Illinois available for purchase.
      & 167th Nwc Cedar Rd, Lockport, IL 60441
      View Details
    • Contact for pricing

      Commercial Lots Near I-355

      Improved commercial lots near I-355 interchange with strong demographics.
      159th St & Thornton St, Lockport, IL 60441
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Build-to-Suit Opportunity

      Retail space for rent in Lockport, Illinois.
      16101 Farrell Rd, Lockport, IL 60441
      View Details
    • $20 SF/Yr
      3,620 SF

      Lockport Retail Space - I-355 Access

      Prime Retail/Office/Medical Building, 3620 SF
      16732 159 St, Lockport, IL 60441
      View Details
    • Contact for pricing

      Retail Space in Lockport Market

      Small retail space with excellent visibility and co-tenancy.
      16341 W 159 St, Lockport, IL 60441
      View Details
    • Contact for pricing

      Lockport Distribution/Industrial Space Available

      Distribution and industrial properties available for rent in Lockport, IL.
      Prime Blvd, Lockport, IL 60441
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Planned Development

      Retail property available for lease in Lockport, Illinois.
      902-904 S State St, Lockport, IL 60441
      View Details
    • Contact for pricing

      Retail Space in Multi-Tenant Building

      Small retail space available for rent in Lockport, Illinois.
      West 159 St, Lockport, IL 60441
      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.
    1400 Smith Rd
    Lemont, IL 60441
    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
    1400 Smith Rd, Lemont, IL, 60441
    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!