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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Of Black Rd Joliet, IL 60431

    • Land
    • 0.90 lot acres
    For Sale
    View listing
    $400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Of Black Rd

    Lot size
    0.90 lot acres
    Property type
    Land

    Description

    This exceptional 0.9-acre commercial lot presents a unique investment opportunity in Joliet, Illinois. Located north of the intersection of Essington Road and Black Road, this fully improved site boasts excellent visibility and accessibility, situated just east of I-55. The property features frontage on Essington Road, benefiting from high traffic counts of 16,800 vehicles per day (VPD) along Essington Road and 24,100 VPD along Black Road, ensuring significant exposure for any future development. The lot is zoned R-B (Restricted Business Districts), offering a range of potential uses. Its strategic location provides convenient access to major transportation arteries and is adjacent to an Old Second National Bank branch, further enhancing its appeal. The property's proximity to medical facilities adds to its overall desirability. This is a rare opportunity to acquire a well-situated, fully improved commercial lot in a thriving area of Joliet. The parcel's APN is 050601310015. The asking price for this exceptional property is $400,000. Don't miss this chance to secure a prime piece of Joliet real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.1603
    Latitude
    41.5385

    Comparable in this City

    • Value Estimation by Request
      0.75 Acres

      Rock Creek Blvd

      Land • 0.75 Acres
      0 Rock Creek Blvd, Joliet, IL 60431
      View Details
    • Value Estimation by Request
      5.03 Acres

      Manhattan Rd

      Land • 5.03 Acres
      0 Manhattan Rd, Joliet, IL 60431
      View Details
    • Value Estimation by Request

      Chevy Chase Rd & Caton Farm Rd

      Land
      0 Chevy Chase Rd & Caton Farm Rd, Joliet, IL 60431
      View Details
    • Value Estimation by Request
      4.54 Acres

      Mall Loop Dr

      Land • 4.54 Acres
      0 Mall Loop Dr, Joliet, IL 60431
      View Details
    • Value Estimation by Request
      8.77 Acres

      52 Frontage Rd & Rte

      Farms • 8.77 Acres
      52 Frontage Rd & Rte, Joliet, IL 60431
      View Details
    • Value Estimation by Request
      1.09 Acres

      Us-30

      Land • 1.09 Acres
      0 Us-30, Joliet, IL 60431
      View Details

    Similar Nearby for Sale

    • $895,000
      5.03 Acres

      5.03 Acres Joliet Commercial Land

      Prime Joliet acreage, agricultural zoning. Development potential.
      0 Manhattan Rd, Joliet, IL 60431
      View Details
    • $6,795,000
      54.00 Acres

      Prime Joliet Commercial Land

      54 Acres, B-3 Zoning, High Traffic
      0 Swc Rdg & Black Rds, Joliet, IL 60431
      View Details
    • $400,000
      0.90 Acres

      Joliet Commercial Land - $400K

      0.9-acre lot, prime Joliet location.
      0 Of Black Rd, Joliet, IL 60431
      View Details
    • Contact for pricing
      4.54 Acres

      Prime Joliet Commercial Land

      4.54 acres near Westfield Louis-Joliet Mall.
      0 Mall Loop Dr, Joliet, IL 60431
      View Details
    • Contact for pricing
      8.77 Acres

      Joliet Industrial Land - 8.77 Acres

      Prime Will County industrial site, I-55 access.
      0 Frontage Rd & Rte 52, Joliet, IL 60431
      View Details
    • Contact for pricing

      Land in Growing Area

      Large site with potential for various uses in Joliet, IL.
      561 Berry Ridge Dr, Joliet, IL 60431
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Joliet Warehouse Space Available

      30,962 SF warehouse space available for immediate lease.
      1600 Rock Creek Blvd, Joliet, IL 60431
      View Details
    • Contact for pricing
      221,541 SF

      Joliet Industrial Facility For Lease

      Class A industrial facility with interstate access, ideal for distribution.
      4300 Olympic Blvd, Joliet, IL 60431
      View Details
    • Contact for pricing

      Versatile Office Space in Joliet

      1,500 SF office space suitable for medical or professional uses.
      3587 Hennepin Dr, Joliet, IL 60431
      View Details
    • Contact for pricing
      7,700 SF

      Joliet Executive Office Suites

      Modern Offices, Flexible Sizes, Will County
      3601 Mcdonough St, Joliet, IL 60431
      View Details
    • Contact for pricing
      250,560 SF

      Joliet Warehouse and Distribution Space

      Available warehouse and distribution space in Joliet, Illinois.
      4001 Rock Creek Blvd, Joliet, IL 60431
      View Details
    • $10 SF/Yr
      15,180 SF

      Joliet Warehouse with Drive-in Doors

      Industrial warehouse space featuring drive-in doors and three-phase power.
      1601-1623 Rock Creek Blvd, Joliet, IL 60431
      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.
    Of Black Rd
    Joliet, IL 60431
    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.