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    Property profile & analytics

    16241 Farrell Rd Lockport, IL 60441-8101

    • Commercial real estate
    • 219,969 SF
    • 23.30 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US28-2992087
    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 16241 Farrell Rd

    Lot size
    23.30 lot acres
    Property size
    219,969 SF
    Property type
    Commercial real estate
    APN
    16-05-19-100-010
    APU
    160519100010

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Will
    State
    Illinois
    Longitude
    -88.024
    Latitude
    41.592
    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
    $380,350
    $1,605,603
    $2,834,628
    $4,440,231
    -
    $4,816,809
    $8,503,884
    $13,320,693

    Comparable in this City

    • Value Estimation by Request

      1016 State St

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      0.27 Acres

      912 Hamilton St

      COMMERCIAL (GENERAL) • 0.27 Acres
      912 Hamilton St, Lockport, IL 60441-3424
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      7.53 Acres

      433 16th St

      COMMERCIAL (GENERAL) • 7.53 Acres
      433 16th St, Lockport, IL 60441-4230
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      0.23 Acres

      134 9th St, Unit 2C

      COMMERCIAL (GENERAL) • 0.23 Acres
      134 9th St, Lockport, IL 60441-3493
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      6.98 Acres

      14552 Archer Ave

      COMMERCIAL (GENERAL) • 6.98 Acres
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    • Value Estimation by Request
      0.26 Acres

      202 Barry Ave

      COMMERCIAL (GENERAL) • 0.26 Acres
      202 Barry Ave, Lockport, IL 60441-5104
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      20.00 Acres

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      Prime 20-acre industrial site, I-355 access.
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    Similar Nearby for Lease

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      315,647 SF

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    • $28 SF/Yr
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    • $35 SF/Yr
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      Retail Space in Planned Development

      Retail property available for lease in Lockport, Illinois.
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      Office or retail space with ample parking and high visibility.
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    Property Visit Statistics

    • Visits by month
      191.1k
    • Visitors by month
      81.7k
    • Avg Time on site
      34 min
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    16241 Farrell Rd
    Lockport, IL 60441-8101
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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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