16250 159Th St Lockport, IL 60441
This exceptional 18.61-acre commercial land parcel presents a remarkable development opportunity in Lockport, Illinois. Strategically located along I-355, this property boasts a highly desirable C-3 zoning designation, permitting a wide range of commercial uses, including general commercial, mixed-use, and retail developments. The existing zoning even includes approval for extra building height, offering increased development flexibility. The property's address is 16250 W 159th St, Lockport, IL 60441, with APN 16-05-18-400-012. Its prime location provides unparalleled access to major transportation arteries, ensuring high visibility and convenient access for potential tenants and customers. Furthermore, the possibility of multi-family rezoning adds another layer of potential for future development. This presents a unique chance to capitalize on the growing demand for both commercial and residential spaces in the area. The property benefits from the comparatively low tax rates associated with Will County, Illinois, making it an even more attractive investment. The asking price for this exceptional development opportunity is $2,651,000. Don't miss this chance to acquire a highly sought-after commercial land parcel with significant upside potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.