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Property profile & analytics
FOR LEASE
Commercial land
16556 W 159 St, Lockport, IL 60441
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US28-0178631
For Lease
$1,800,000
16556 W 159 St, Lockport, IL 60441
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
1.99 ac (86,684 SF)
APN
16-05-18-305-031
UPID
US28-0178631
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.83M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.80M
Owner & transaction history
Continental 646 Fund LLC · 2 yrs held
Continental 646 Fund LLC
since 2023
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lockport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lockport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,965,000
ML approach
$1,825,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.70M (Oct 24 2023)
Last sale anchor
$1.70M
Oct 24 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,928
Tax year 2023
Assessed value
$60,134
Assessed 2023
Previous assessed
$60,134
+0.0% YoY
Effective rate
8.20%
On assessed value
Assessed land
$60,134
Land market value
$180,402
Total market value
$180,402
Applied tax rate
1,627.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
7
Bathrooms
2
Lot
1.99 ac (86,684 SF)
APN
16-05-18-305-031
UPID
US28-0178631
Jurisdiction
WILL
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
2
Lot
1.99 ac
Current owner
From public records · entity-resolved
Continental 646 Fund LLC
Entity
Mailing address
134TH EXECUTIVE PKWY, MENOMONEE FALLS, WI 53051-3310
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2023
—
Continental 646 Fund LLC
Mjr Lockport III Re Holdings Co LLC
Quit Claim Deed
related
$61,151,000 · Pnc Bank NA
Oct 18, 2023
$1,700,000
Mjr Lockport III Re Holdings Co LLC
Professional Investment Group Ltd
Warranty Deed
—
Feb 3, 2006
—
Professional Inv Group Ltd
Trust 4784
Grant Deed
$1,126,275 · First Midwest Bank
Feb 3, 2006
$1,537,500
Professional Inv Group Ltd
Oxley,david G & Vivian M
Warranty Deed
—
—
—
First National Bk Joliet Ttee
—
Deed Of Trust
related
$200,000 · First National Bank Joliet
—
—
Professional Inv Group Ltd
—
Deed Of Trust
related
$350,109 · First Midwest Bank
—
—
Professional Investment Grp
—
Deed Of Trust
related
$400,000 · First Midwest Bank
—
—
First National Bk Joliet Ttee
—
Deed Of Trust
related
$75,000 · National City Bank
—
—
Harris Bank Joliet NA Trustee
—
Deed Of Trust
related
$130,000 · Chase Manhattan Mortgage Corp
—
—
Harris Bank Trustee
—
Deed Of Trust
related
$240,000 · First Midwest Bank
—
—
David G Oxley
—
Deed Of Trust
related
$220,000 · Aadus Banc Corp
—
—
Professional Inv Group Ltd
—
Deed Of Trust
related
$522,645 · First Midwest Bk/deerfield
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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