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

    13500 Harlem Ave Orland Park, IL 60462-1800

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3023344
    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 real estate

    Property Details for 13500 Harlem Ave

    Property type
    Commercial real estate
    APN
    27-01-201-015-8002
    APU
    27012010158002

    Description

    This exceptional 0.59-acre parcel in Orland Park, IL, presents a unique redevelopment opportunity. Located at the highly visible, lighted intersection of Harlem Avenue, this property boasts over 43,750 vehicles per day. The 4,100 square foot building sits on a 25,787 square foot lot, representing the only developable corner at this intersection, offering significant barriers to entry. Surrounded by residential areas, hotels, and attractions such as Lake Katherine Nature Center and Sam's Club, the site benefits from a strong demographic profile, with an average household income exceeding $154,239 within a one-mile radius. The property's previous use included a restaurant and is zoned for a variety of uses, including gas station, quick-service restaurant, and other retail options. This distressed sale presents a strategic investment opportunity for developers seeking a high-visibility location in a thriving community. The property's Cook County APN is 27-01-201-006. This is a rare chance to acquire a prime corner lot with exceptional visibility and access to a strong consumer base. The property's location near schools, major retail, and leisure destinations further enhances its appeal. This is an ideal site for a new restaurant, retail development, or other mixed-use project.

    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
    Orland Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.798
    Latitude
    41.6402
    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
    $8,503
    $31,172
    $1.00
    $31,173
    -
    $124,688
    $4
    $124,692

    Comparable in this City

    • Value Estimation by Request
      9.60 Acres

      9801 159Th St

      Land • 9.60 Acres
      9801 159Th St, Orland Park, IL 60462
      View Details
    • Value Estimation by Request

      Orland Park, IL 60462

      COMMERCIAL (GENERAL)
      Orland Park, IL 60462
      View Details
    • Value Estimation by Request
      1.24 Acres

      15615 Harlem Ave

      COMMERCIAL (GENERAL) • 1.24 Acres
      15615 Harlem Ave, Orland Park, IL 60462-7601
      View Details
    • Value Estimation by Request
      0.30 Acres

      14445 La Grange Rd

      COMMERCIAL (GENERAL) • 0.30 Acres
      14445 La Grange Rd, Orland Park, IL 60462-2505
      View Details
    • Value Estimation by Request

      14305 La Grange Rd

      COMMERCIAL (GENERAL)
      14305 La Grange Rd, Orland Park, IL 60462-2503
      View Details
    • Value Estimation by Request

      7950 143rd St

      COMMERCIAL (GENERAL)
      7950 143rd St, Orland Park, IL 60462-2920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9.60 Acres

      Orland Park Commercial Land - 9.6 Acres

      Prime Orland Park commercial land, near major retailers.
      9801 159Th St, Orland Park, IL 60462
      View Details
    • $1,400,000
      2.36 Acres

      Orland Park Retail Land Investment

      2.36-Acre Outlot Near Target
      0 159Th St, Orland Park, IL 60462
      View Details
    • $495,000
      0.73 Acres

      Orland Park Commercial Land Investment

      Prime Orland Park land, high traffic area.
      56 Orland Square Dr, Orland Park, IL 60462
      View Details
    • $1,300,000
      0.93 Acres

      Orland Park Retail Investment Opportunity

      Vacant Land, High Traffic, Prime Location
      15900 94Th Ave, Orland Park, IL 60462
      View Details
    • $1,495,000

      Prime Retail Outlot Parcels Available

      Two outlot parcels ideal for retail, senior living, and medical.
      7420 W 159Th St, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Harlem Avenue Commercial Land Available

      1 to 5.13 acres of land for sale.
      15555 S Harlem Ave, Orland Park, IL 60462
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr

      Orland Park Office Space Available

      Multiple office units available for lease in Orland Park.
      62 Orland Square Dr, Orland Park, IL 60462
      View Details
    • Contact for pricing
      21,000 SF

      Orland Park Office Space Available

      Office space in a solid brick building with high visibility.
      14355 La Grange Rd, Orland Park, IL 60462
      View Details
    • $17 SF/Yr
      5,625 SF

      Class A Office Space Available

      Class A office building in Orland Park, immediate occupancy.
      15255 South 94Th Ave, Orland Park, IL 60462
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space Near Orland Square

      2,100 SF retail space in affluent Orland Park market.
      15102 South La Grange Rd, Orland Park, IL 60462
      View Details
    • Contact for pricing

      Private Office Space Available

      Private office space with shared amenities in Orland Park.
      1600 Ravinia Pl, Orland Park, IL 60462
      View Details
    • $10 SF/Yr

      Retail Space on Signalized Corner

      Retail property with high visibility in a dense Chicago suburb.
      15605 S 94Th Ave, Orland Park, IL 60462
      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.
    13500 Harlem Ave
    Orland Park, IL 60462-1800
    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.