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    1551 N Dilleys Rd Gurnee, IL 60031
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    1551 N Dilleys Rd Gurnee, IL 60031

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    • Commercial land
    For Sale
    $1,625,000
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    Gurnee Commercial Site For Sale For Sale
    $1,625,000
    5.00 Acres

    Gurnee Commercial Site For Sale

    5+ acre commercial site near I-94 and Grand Avenue.

    1551 N. Dilleys Rd, Gurnee, IL 60031
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    Property ID
    US28-2112513
    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

    • Brianne Consulting / Marketing & Advertising / Advertising Agency

    Property Details for 1551 N Dilleys Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Gurnee 5 Plus Acre Commercial Site at Signalized Intersection Just East of I 94 and Just North of Grand Avenue. Ideal for Professional/medical/institutional Office Building. City May Consider Hotel, Restaurant, Retail Strip Center Subject to Gurnee Approval. Lots of Rooftops Nearby Within Walking Distance. Traffic Count on Dilleys is Approximately 7,700 Vehicles Per Day. Priced at $7.00 Per Foot. Owner Prefers to Sell Entire Site but May Consider Dividing. Park in Access Drive Off Dilleys and Walk the Site at Own Risk. Taxes Based Upon Farmland Value.

    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
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9395706
    Latitude
    42.3819183

    Comparable in this City

    • Contact for pricing

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      Gurnee Land For Sale

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      1.30 Acre Commercial Land Available

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      17.53 Acres on Skokie Highway

      17.53 acres of commercial land with highway frontage.
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      Gurnee Land for Sale

      2.25 acres at Milwaukee Ave (Rte. 41) and St. Paul Ave.
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      0.04 Acres

      Gurnee, IL Land Parcel

      High visibility land parcel adjacent to I-94 in Gurnee.
      15010 W Belvidere Rd, Gurnee, IL 60031
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    Similar Nearby for Sale

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      Commercial Land Ideal for Development

      Commercial land parcel suitable for retail or office development.
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    • $185,000
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      Gurnee Land For Sale

      Almost 1 acre zoned O-1 Restricted Office District.
      1577 N Dilleys Rd, Gurnee, IL 60031
      View Details
    • Contact for pricing

      17.53 Acres on Skokie Highway

      17.53 acres of commercial land with highway frontage.
      36396 Skokie Hwy, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Land for Sale

      2.25 acres at Milwaukee Ave (Rte. 41) and St. Paul Ave.
      1301 Skokie Hwy, Gurnee, IL 60031
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      0.04 Acres

      Gurnee, IL Land Parcel

      High visibility land parcel adjacent to I-94 in Gurnee.
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      Land Near Great Wolf Lodge

      Commercial land ideal for hotel, retail, or office developments.
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    Similar Nearby for Lease

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      Commercial Land For Lease

      Commercial land ideal for retail or office development.
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      Gurnee Land for Lease

      Land available for lease with high traffic count.
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      3 SF

      Gurnee Industrial Land For Lease

      3 acres of fenced, secured land near Route 41.
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      26,836 SF

      Retail Space Near Gurnee Mills

      Retail space with high visibility near Gurnee Mills.
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      76,230 SF

      Adaptable Retail Space in Gurnee

      1,500 SF commercial unit in high-traffic retail center.
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      Class A Medical Office Space

      Medical office building for lease in Gurnee, Illinois.
      222 S Greenleaf St, Gurnee, IL 60031
      View Details
    View Listing
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    Gurnee, IL 60031
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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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    1551 N Dilleys Rd, Gurnee, IL, 60031
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