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    Swanson Ct Gurnee, IL 60031
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    Swanson Ct Gurnee, IL 60031

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    • Land
    • 2.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Swanson Ct

    Lot size
    2.50 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 2.5-acre industrial land parcel presents a unique opportunity for development in Gurnee, Illinois. Located on Swanson Court, this property is zoned I-3 (Intensive Industrial District), allowing for the construction of up to 40,000 square feet of industrial space. The site boasts convenient access to major transportation arteries, including Interstate 94 via Delany Road and Grand Avenue/Route 132, ensuring seamless logistics and efficient distribution. Situated in Lake County, this property benefits from low property taxes, making it an attractive investment. The asking price for this exceptional industrial land opportunity is $582,000. The property's address is Swanson Court, Gurnee, IL 60031, and its precise coordinates are latitude 42.3889044 and longitude -87.8971972. This is a rare chance to acquire a sizable, strategically located industrial land parcel in a thriving area with excellent infrastructure and low tax rates. Don't miss this chance to build your next industrial project in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.8972
    Latitude
    42.3889

    Comparable in this City

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      22,000 SF

      3844 Swanson Ct

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      5,900 SF

      3989 Grv Ave

      INDUSTRIAL (GENERAL) • 5,900 SF
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      $3,545,000
      58,886 SF

      905 Lakeside Dr

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      5,928 SF

      4310 Lee Ave

      INDUSTRIAL (GENERAL) • 5,928 SF
      4310 Lee Ave, Gurnee, IL 60031-2143
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      6,000 SF

      4290 Lee Ave

      INDUSTRIAL (GENERAL) • 6,000 SF
      4290 Lee Ave, Gurnee, IL 60031-2141
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    • Value Estimation
      $2,455,000
      75,755 SF

      4081 Ryan Rd

      INDUSTRIAL (GENERAL) • 75,755 SF
      4081 Ryan Rd, Gurnee, IL 60031-1267
      View Details

    Similar Nearby for Sale

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      Gurnee Industrial Property For Sale

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      17,285 SF

      Gurnee Industrial Facility with Cranes

      Freestanding 17,285 SF industrial facility with outdoor storage.
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    • $1,749,000
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      Land Available on Stearns School

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      Land For Sale

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      34,200 SF

      Gurnee Warehouse with Office Space

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    Similar Nearby for Lease

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      16,066 SF

      Renovated Suites in Business Park

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      Land Available For Lease/Sale

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      Gurnee Warehouse with Office Space

      Gurnee warehouse featuring office space, drive-in door, and ample parking.
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      Mixed-Use Property on Grand Avenue

      Mixed-use property with retail, office, and warehouse space available.
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      Gurnee Commercial Space For Rent

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      26,033 SF

      Gurnee Warehouse with Loading Docks

      26,033 SF warehouse with loading docks available for lease.
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      View Details
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    Gurnee, IL 60031
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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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