Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    10020 191st St Mokena, IL 60448-8656

    • Commercial land
    • 1.53 lot acres
    OFF-MARKET
    Last Sale
    Aug 10, 2022
    $200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1420406
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 10020 191st St

    Lot size
    1.53 lot acres
    Property type
    Commercial land
    APN
    19-09-04-303-002
    APU
    190904303002

    Description

    This exceptional 1.53-acre commercial land parcel presents a remarkable investment opportunity in the thriving Mokena, Illinois market. Located at 10020 191st Street, this prime outlot sits in a main commercial corridor between LaGrange Road and Wolf Road, offering unparalleled visibility and accessibility. Its strategic location provides convenient access to Interstate 80, a major east-west thoroughfare. The property enjoys a highly desirable corner location with excellent signalization, directly adjacent to The Promenade of Mokena shopping center. Nearby amenities include the Olivieri Business Park and a fire station, enhancing the area's appeal and functionality. The land is zoned for a variety of commercial uses, making it suitable for a wide range of development projects. The asking price is $726,750, representing a land value of $475,000 per acre. Low Will County taxes further enhance the financial attractiveness of this exceptional property. This is an unparalleled chance to acquire a highly visible and strategically located commercial land parcel in a rapidly growing area. The property's proximity to major roadways, established businesses, and residential areas makes it an ideal location for a variety of commercial ventures. Don't miss this opportunity to secure a prime piece of Mokena real estate. The property is situated in Will County, Illinois, with a zip code of 60448.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mokena
    County
    Will
    State
    Illinois
    Longitude
    -87.8638
    Latitude
    41.5434
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,768
    $182,166
    $0.00
    $182,166
    -
    $546,498
    $0.00
    $546,498

    Comparable in this City

    • Value Estimation by Request
      0.63 Acres

      187th St

      VACANT COMMERCIAL LAND • 0.63 Acres
      187th St, Mokena, IL 60448
      View Details
    • Value Estimation by Request
      0.49 Acres

      190th Pl

      VACANT COMMERCIAL LAND • 0.49 Acres
      190th Pl, Mokena, IL 60448
      View Details
    • Value Estimation by Request
      6.95 Acres

      190th Pl

      VACANT COMMERCIAL LAND • 6.95 Acres
      190th Pl, Mokena, IL 60448
      View Details
    • Value Estimation by Request
      1.27 Acres

      9850 190th St Ste B

      VACANT COMMERCIAL LAND • 1.27 Acres
      9850 190th St Ste B, Mokena, IL 60448-5606
      View Details
    • Value Estimation by Request
      2.29 Acres

      191st St

      VACANT COMMERCIAL LAND • 2.29 Acres
      191st St, Mokena, IL 60448
      View Details
    • Value Estimation by Request
      3.28 Acres

      192nd St

      VACANT COMMERCIAL LAND • 3.28 Acres
      192nd St, Mokena, IL 60448
      View Details

    Similar Nearby for Sale

    • $10,920,000
      100 SF

      Mokena Land for Sale

      Land available for a build-to-suit industrial property.
      88th 187Th St, Mokena, IL 60448
      View Details
    • $1,822,420

      Mokena Improved Land For Sale

      Improved land with infrastructure in place, Mokena, Illinois.
      9240 189Th St, Mokena, IL 60448
      View Details
    • $350,000

      Land Adjacent to New ALDI

      Approximately 0.50 acres of land adjacent to new ALDI.
      11370 179Th St, Mokena, IL 60448
      View Details
    • New
      $189,999
      1.00 Acre

      Mokena, IL - 1 Acre Lot

      Expansive 1 acre lot in Mokena, Illinois.
      21647 Owens Rd, Mokena, IL 60448
      View Details
    • $4,250,000
      17.81 Acres

      Mokena Commercial Land Opportunity

      Prime commercial land with flexible zoning and high visibility.
      191 88Th Ave, Mokena, IL 60448
      View Details
    • $1,822,420
      7 SF

      Mokena Improved Land For Sale

      Improved land with infrastructure in place, Mokena, Illinois.
      88th 187Th St, Mokena, IL 60448
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mokena Commercial Development Opportunity

      Highly visible 2.35-acre commercial development property in Mokena, IL.
      9000 W 191St St, Mokena, IL 60448
      View Details
    • Contact for pricing
      946 SF

      Meijer In-Store Retail Space

      Prime Midwest Retail Space Available
      11305 Lincoln Hwy, Mokena, IL 60448
      View Details
    • Contact for pricing

      Rehabbed Office Space Available

      Newly renovated office space in Downtown Mokena for rent.
      11225 Front St, Mokena, IL 60448
      View Details
    • Contact for pricing
      35,000 SF

      Mokena Warehouse with Outdoor Storage

      35,000 SF warehouse with expandable features and outdoor storage.
      8785 Spring Lake Dr, Mokena, IL 60448
      View Details
    • Contact for pricing

      Rehabbed Office Space Available

      Newly renovated office space in downtown Mokena for rent.
      11225 Front St, Mokena, IL 60448
      View Details
    • Contact for pricing
      152,460 SF

      Class A Office Building

      Three-story office building near I-80 and commuter train.
      19065 S Hickory Creek Dr, Mokena, IL 60448
      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.
    10020 191st St
    Mokena, IL 60448-8656
    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.