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

    1290 Normantown Rd Romeoville, IL 60446

    • Commercial real estate
    • 3,975 SF
    • 1.69 lot acres
    For Lease
    View listing
    $39 SF/Yr
    Last Sale
    Aug 09, 2024
    $1,300,000
    Value Estimations
    $1,300,000
    Cap Rate Potential
    4.6%
    Commercial real estate
    Location Intelligence
    Property ID
    US28-5707299
    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

    • Burger King / Restaurant

    Property Details for 1290 Normantown Rd

    Year built
    1999
    Lot size
    1.69 lot acres
    Property size
    3,975 SF
    Property type
    Commercial real estate
    APN
    12-02-32-101-001
    APU
    120232101001

    Description

    This exceptional 1.69-acre commercial property in Romeoville, IL, presents a unique opportunity for redevelopment. Located at the high-traffic intersection of Normantown Rd and Weber Rd, this B3-zoned lot boasts 73,616 square feet and offers excellent visibility. The site includes a 3,979 square foot existing building, suitable for reuse or demolition, depending on your development plans. The property features 69 parking spaces and 800 AMP power. Village incentives and potential TIF area benefits may be available. The existing building, previously a fast-food restaurant with a drive-thru, offers potential for various uses, including but not limited to: animal hospital, urgent care, hotel, EV charging station, strip center, or childcare facility. Detailed zoning information is available from the Village of Romeoville. This prime location, with its high daily traffic count, ensures significant exposure for your business. The property's 278-foot frontage provides ample space for signage and convenient access. Property taxes are $34 per square foot. Adjacent land is also available for purchase, potentially expanding the total acreage to over 3 acres. This is an ideal location for a variety of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,300,000
      ML approach
      $1,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,005,000
      6.5%
      $930,000
      7%
      $860,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,421,000
      Market price range: $477k - $1.64M

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

    Location Insight

    • Map
    • Local Demand
    City
    Romeoville
    County
    Will
    State
    Illinois
    Longitude
    -88.1239
    Latitude
    41.6529
    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
    $24,791
    $242,455
    $91,604
    $334,059
    -
    $727,365
    $274,812
    $1,002,177

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      6.44 Acres

      261 Weber Rd

      COMMERCIAL (GENERAL) • 6.44 Acres
      261 Weber Rd, Romeoville, IL 60446-3953
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    • Value Estimation by Request
      1.59 Acres

      263 Weber Rd

      COMMERCIAL (GENERAL) • 1.59 Acres
      263 Weber Rd, Romeoville, IL 60446-3953
      View Details
    • Value Estimation by Request
      80.74 Acres

      179 Ss Crk Pkwy

      COMMERCIAL (GENERAL) • 80.74 Acres
      179 Ss Crk Pkwy, Romeoville, IL 60446-4608
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      3.98 Acres

      1350 Renwick Rd

      COMMERCIAL (GENERAL) • 3.98 Acres
      1350 Renwick Rd, Romeoville, IL 60446-5345
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      1.10 Acres

      33 Belmont Dr

      Commercial real estate • 1.10 Acres
      33 Belmont Dr, Romeoville, IL 60446
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    Similar Nearby for Sale

    • Contact for pricing
      1.30 Acres

      Weber Pointe: Romeoville Outparcel

      1.3-acre commercial land, prime retail location.
      0 Weber Rd And Airport Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      1.32 Acres

      Romeoville Commercial Land Outlots

      Prime Retail Land, High Traffic Area
      404 Weber Rd, Romeoville, IL 60446
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      1.30 Acres

      Weber Pointe: Romeoville Commercial Land

      1.3-Acre Commercial Lot, Prime Location
      0 Weber Rd And Airport Rd, Romeoville, IL 60446
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    • Contact for pricing
      3.50 Acres

      Weber Town Center Land - Romeoville, IL

      3.5-acre commercial lot, prime location.
      0 Nwq Weber & Normantown Rd, Romeoville, IL 60446
      View Details
    • $2,200,000
      18,480 SF

      Fully Leased Office Building

      Fully leased office building with recent and upcoming improvements.
      1211 W Lakeview Ct, Romeoville, IL 60446
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      2 SF

      Land Available in Romeoville

      Two-acre land parcel in Romeoville, Illinois.
      Taylor Rd, Romeoville, IL 60446
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    Similar Nearby for Lease

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      113,416 SF

      High Point Square Retail Space

      Prime Romeoville Retail Opportunity
      20 Weber Rd, Romeoville, IL 60446
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      Weber Road Commercial Land

      Five Acres, High-Visibility Location
      0 Romeoville Il, Romeoville, IL 60446
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      100,000 SF

      Romeoville Retail Pads - Weber Road

      Prime Retail Space, 100,000 SF, Will County
      0 Weber Rd & Normantown Rd, Romeoville, IL 60446
      View Details
    • $2,500 /Mo
      1,784 SF

      Spacious Townhouse in Creekside

      Three-bedroom, 2.1-bath townhouse in Romeoville's Creekside subdivision.
      250 S Oak Creek Ln, Romeoville, IL 60446
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      274,428 SF

      Professional Office Building For Rent

      Brick office building with high visibility and ample parking.
      600 S Weber Rd, Romeoville, IL 60446
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    • Contact for pricing
      45,093 SF

      Industrial Space in Established Park

      Move-in ready industrial space with immediate interstate access.
      1186-1198 Arbor Dr, Romeoville, IL 60446
      View Details
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    1290 Normantown Rd
    Romeoville, IL 60446
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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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