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    14604 W Bruce Rd Homer Glen, IL 60491
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    14604 W Bruce Rd Homer Glen, IL 60491

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    • Commercial real estate
    • 83.19 lot acres
    For Sale
    $4,159,500
    View Listing →
    83+ Acres in Homer Glen For Sale
    $4,159,500
    83.19 Acres

    83+ Acres in Homer Glen

    Large acreage near I-355, I-80, and I-55 in Homer Glen.

    14604 W Bruce Road, Homer Glen, IL 60491
    View Listing
    Property ID
    US28-2064592
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 14604 W Bruce Rd

    Lot size
    83.19 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 83.19-acre parcel, located at 14604 W Bruce Rd in Homer Glen, Illinois (zip code 60491), presents a unique investment opportunity. Currently zoned A1, this property offers significant potential for diverse development. The seller is open to dividing the land into reasonably sized parcels to suit various projects. Potential uses include residential, commercial, RV park, landscaping, recreational facilities, or equestrian uses, offering ample space for creative development. Its strategic location near the intersection of I-355, I-80, and I-55 provides easy access to major transportation arteries. Furthermore, the property's proximity to a hospital and a newly constructed, multi-million dollar sports complex in New Lenox adds to its appeal. The possibility of acquiring additional acreage is also available upon request. This property is situated in Will County and presents a rare chance to acquire a substantial land holding in a rapidly growing area. Serious inquiries are encouraged to explore the full potential of this remarkable development opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Homer Glen
    County
    Will
    State
    Illinois
    Longitude
    -87.975146
    Latitude
    41.572895

    Comparable in this City

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      Corner Land Parcel For Sale

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      Homer Glen Development Opportunity

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      83.19 Acres

      83+ Acres in Homer Glen

      Large acreage near I-355, I-80, and I-55 in Homer Glen.
      14604 W Bruce Rd, Homer Glen, IL 60491
      View Details

    Similar Nearby for Sale

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      Corner Land Parcel For Sale

      Hard corner lot near I-355 and residential area.
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      Two Adjacent Lots on Oakridge

      Two adjacent lots totaling 1.65 acres for sale.
      735 Oak Ridge Dr, Romeoville, IL 60491
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    • $2,149,900
      16.05 Acres

      Homer Glen Development Opportunity

      16-acre parcel in growing corridor, flexible zoning.
      12649 W 159Th St, Homer Glen, IL 60491
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    • $4,159,500
      83.19 Acres

      83+ Acres in Homer Glen

      Large acreage near I-355, I-80, and I-55 in Homer Glen.
      14604 W Bruce Rd, Homer Glen, IL 60491
      View Details
    • $229,900
      1.31 Acres

      Homer Glen Wooded Land Parcel

      1.3 acres of wooded land in Homer Glen, Illinois.
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    • $3,896,878
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      Commercial Land Near I-355 Interchange

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    Similar Nearby for Lease

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      1,600 SF

      Retail Space in Homer Glen

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      363,224 SF

      Lockport Warehouse with I-355 Visibility

      363,224 SF warehouse space with premier business park location.
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      1,293 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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    • New
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      Homer Glen Office Space Available

      Second floor office unit suitable for professional practice/business.
      15750 S Bell Rd, Homer Glen, IL 60491
      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.

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