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

    13750 W 159Th St Homer Glen, IL 60491

    • Commercial real estate
    • 669 SF
    • 9.49 lot acres
    For Sale
    View listing
    $1,600,000
    Value Estimations
    Cap Rate Potential
    3.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US28-5771767
    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 13750 W 159Th St

    Lot size
    9.49 lot acres
    Property size
    669 SF
    Property type
    Commercial real estate
    APN
    16-05-15-400-005
    APU
    160515400005

    Description

    This exceptional 8-9.99 acre commercial land parcel in Homer Glen, Illinois, presents a remarkable development opportunity. Located on the north side of 159th Street, this property boasts excellent frontage and is conveniently situated minutes from the I-355, I-80, and I-55 interchanges, offering easy access to major transportation routes and a 30-minute commute to Chicago. Currently zoned C-6, the property is easily rezoned to C-2 or C-3, making it ideal for a variety of commercial uses, including restaurants, retail establishments, hotels, or attached housing developments. The flat land features an existing asphalt parking lot, and the sale includes a trailer, pole barn, and two sheds. This property previously housed the Tee Time Golf Range & Family Fun Center. Its prime location and versatile zoning make this a truly exceptional investment opportunity in a rapidly growing area. Don't miss this chance to be part of Homer Glen's exciting development. The asking price is $1,750,000. The property address is 13750 W 159th St, Homer Glen, IL 60491.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $239,000
      Market price range: $56.3k - $239k

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

    Location Insight

    • Map
    • Local Demand
    City
    Homer Glen
    County
    Will
    State
    Illinois
    Longitude
    -87.9536
    Latitude
    41.6014
    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
    $9,501
    $100,000
    $13,490
    $113,490
    -
    $300,000
    $40,470
    $340,470

    Comparable in this City

    • Value Estimation
      $300,000
      1.17 Acres

      15933 Bell Rd

      COMMERCIAL (GENERAL) • 1.17 Acres
      15933 Bell Rd, Homer Glen, IL 60491-6707
      View Details
    • Value Estimation
      $865,000
      103,164 SF

      14053 Bell Rd

      COMMERCIAL (GENERAL) • 103,164 SF
      14053 Bell Rd, Homer Glen, IL 60491-8463
      View Details
    • Value Estimation
      $285,000
      0.85 Acres

      15772 Bell Rd

      COMMERCIAL (GENERAL) • 0.85 Acres
      15772 Bell Rd, Homer Glen, IL 60491-8400
      View Details
    • Value Estimation
      $360,000
      3.74 Acres

      12461 159th St

      COMMERCIAL (GENERAL) • 3.74 Acres
      12461 159th St, Homer Glen, IL 60491
      View Details
    • Value Estimation
      $445,000
      5.00 Acres

      15930 159th St

      COMMERCIAL (GENERAL) • 5.00 Acres
      15930 159th St, Homer Glen, IL 60491-8061
      View Details
    • Value Estimation
      $340,000
      2,005 SF

      12265 159th St

      COMMERCIAL (GENERAL) • 2,005 SF
      12265 159th St, Homer Glen, IL 60491-7847
      View Details

    Similar Nearby for Sale

    • $2,600,000
      4.00 Acres

      Homer Glen Commercial Land Opportunity

      Prime Commercial Land, High Visibility
      14549 159Th St, Homer Glen, IL 60491
      View Details
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      40-Acre Commercial Land Homer Glen

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      Homer Glen Commercial Land - $600K

      1.02-acre commercial lot, prime location.
      IL 60441 Lemont Rd Homer Gln, Lockport, IL 60491
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    • $3,250,000
      5.00 Acres

      Homer Glen Commercial Land Opportunity

      Prime Commercial Land, High Visibility, I-355 Access
      0 159Th St, Homer Glen, IL 60491
      View Details
    • $4,159,500
      83.19 Acres

      Homer Glen Land: 83 Acres

      Prime 83-acre development opportunity. Excellent location & zoning.
      14604 Bruce Rd, Homer Glen, IL 60491
      View Details
    • $1,750,000
      8.00 Acres

      Homer Glen Commercial Land Investment

      Prime Homer Glen development opportunity.
      13750 159Th St, Homer Glen, IL 60491
      View Details

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      1,600 SF end-cap retail space for lease.
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      Lockport Warehouse with I-355 Visibility

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      1,300 SF

      Homer Glen Retail Space Available

      Retail suites available in Homer Glen's Bell Road commercial corridor.
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      Homer Glen Basement Storage Space

      Basement storage in Golden Oak Building, Homer Glen. Approved storage.
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      Homer Glen Office Space Available

      Second floor office unit suitable for professional practice/business.
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      View Details
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    Homer Glen, IL 60491
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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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