Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    120 Lk St Montgomery, IL 60538-1442
    Back to Search
    Property profile & analytics

    120 Lk St Montgomery, IL 60538-1442

    View on Map
    • Commercial real estate
    • 11.59 lot acres
    Off-Market
    Last Sale Mar 17, 2025
    $1,800,000
    Property ID
    US28-4739400
    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.
    Value Estimations
    $1,490,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Schaefer Greenhouses Inc. / Garden Center
    • Wholesale Plants / Big Box & Wholesale Store
    • Raymond & Sons Plumbing / Plumbing Service / Building Supply

    Property Details for 120 Lk St

    Lot size
    11.59 lot acres
    Property type
    Commercial real estate
    APN
    15-32-401-007
    APU
    1532401007

    Description

    This exceptional 14.76-acre commercial/industrial property located at 120 South Lake Street in Montgomery, Illinois (zip code 60538), presents a significant redevelopment opportunity. The property boasts a substantial 154,794 square feet of existing warehouse space, currently configured for greenhouse and floral operations. Zoned M-1 Industrial, this site offers immense potential for various light industrial or commercial ventures. Its strategic location provides exceptional visibility and accessibility. The property features three existing curb cuts, strategically positioned with two on Route 31 and one on Aucutt Road, maximizing convenient ingress and egress. This translates to approximately 1,700 linear feet of frontage along Route 31, offering unparalleled exposure for any future development. The asking price for this single-tenancy property is $2,500,000. This is a rare chance to acquire a large-scale industrial property in a thriving Kendall County location with significant redevelopment potential. The property's size and strategic location make it an ideal candidate for a variety of uses, offering a strong return on investment for the discerning buyer. Don't miss this opportunity to secure a prime piece of Illinois real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,270,000
      ML approach
      $1,085,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Kane
    State
    Illinois
    Longitude
    -88.348
    Latitude
    41.7281
    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
    2022
    $47,161
    $148,551
    $437,221
    $585,772
    -
    $445,653
    $1,311,663
    $1,757,316

    Comparable in this City

    • Value Estimation by Request
      2.72 Acres

      By-pass Rt 30

      COMMERCIAL (GENERAL) • 2.72 Acres
      By-pass Rt 30, Montgomery, IL 60538
      View Details
    • Value Estimation
      $1,300,000
      4,018 SF

      1700 Douglas Rd

      COMMERCIAL (GENERAL) • 4,018 SF
      1700 Douglas Rd, Montgomery, IL 60538-2169
      View Details
    • Value Estimation by Request
      7,650 SF

      591 Montgomery Rd

      COMMERCIAL (GENERAL) • 7,650 SF
      591 Montgomery Rd, Montgomery, IL 60538-1745
      View Details
    • Value Estimation
      $655,000
      14,835 SF

      Rte 31

      COMMERCIAL (GENERAL) • 14,835 SF
      Rte 31, Montgomery, IL 60538
      View Details
    • Value Estimation by Request
      3,127 SF

      300 Webster St

      COMMERCIAL (GENERAL) • 3,127 SF
      300 Webster St, Montgomery, IL 60538-1265
      View Details
    • Value Estimation
      $1,075,000
      4,160 SF

      1947 Rte 30

      COMMERCIAL (GENERAL) • 4,160 SF
      1947 Rte 30, Montgomery, IL 60538
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Site for Mixed-Use Development

      Commercial land suitable for retail, office, and residential development.
      Nwc Seasons Rdg & Vlg Ctr Pkwy, Montgomery, IL 60538
      View Details
    • $4,846,050
      14.68 Acres

      Prime Retail Development Opportunity

      14.68 acre retail development site with high traffic exposure.
      1 Us 30, Montgomery, IL 60538
      View Details
    • $1,725,000

      Prime Commercial Land Opportunity

      5-acre commercial land parcel in Montgomery, Illinois.
      Dickson Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Mixed-Use Development Land Opportunity

      Land suitable for commercial, retail, and industrial development.
      Orch & Aucutt Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Industrial Land with Rail Service

      15.952 acres of industrial land with rail access.
      Aucutt Rd. & Knell Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Commercial Land Near Orchard Road

      Commercial land available near Orchard Road Interchange.
      Rte 30 & Orch Rd, Montgomery, IL 60538
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Space Available

      In-line retail space in high-traffic shopping district.
      2075 Orchard Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Prime Commercial Land for Lease

      High-traffic commercial land with multiple access points for lease.
      1050 Ogden Ave, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Ogden Hill Shopping Center Space

      67-acre shopping center in high-traffic area near schools.
      Us-34, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Prime Land for Lease

      Land with high traffic and multiple access points available for lease.
      Ogden Ave, Montgomery, IL 60538
      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.
    120 Lk St
    Montgomery, IL 60538-1442
    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
    120 Lk St, Montgomery, IL, 60538
    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!