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    Property profile & analytics

    1520 Commerce Ln Joliet, IL 60431-9231

    • Commercial real estate
    • 34,224 SF
    • 1.61 lot acres
    OFF-MARKET
    Value Estimation
    $835,000
    Location Intelligence
    Property ID
    US28-2915654
    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

    • Comfort Inn Joliet West I-80 / Hotel

    Property Details for 1520 Commerce Ln

    Year built
    1997
    Construction
    FRAME
    Lot size
    1.61 lot acres
    Property size
    34,224 SF
    Property type
    Commercial real estate
    APN
    05-06-23-303-004
    APU
    50623303004

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.1694
    Latitude
    41.4935
    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
    $63,080
    $202,681
    $485,579
    $688,260
    -
    $608,043
    $1,456,737
    $2,064,780

    Comparable in this City

    • Value Estimation by Request
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      1.44 Acres

      Jefferson St

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      View Details
    • Value Estimation
      $475,000
      5,070 SF

      3296 Executive Dr Ste, Unit 100

      COMMERCIAL (GENERAL) • 5,070 SF
      3296 Executive Dr Ste, Joliet, IL 60431-8502
      View Details

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    Property Visit Statistics

    • Visits by month
      8.7k
    • Visitors by month
      5.6k
    • Avg Time on site
      9 min
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    1520 Commerce Ln
    Joliet, IL 60431-9231
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    Realmo Value Estimation

    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.

    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.

    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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