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    18001 Harlem Ave Tinley Park, IL 60477
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    18001 Harlem Ave Tinley Park, IL 60477

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    • Commercial land
    For Sale
    $199,900
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    Harlem Avenue Vacant Lot For Sale
    $199,900

    Harlem Avenue Vacant Lot

    Vacant lot on high-traffic Harlem Avenue, near I-80.

    18001 Harlem Ave, Tinley Park, IL 60477
    View Listing
    Property ID
    US28-1460101
    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 land

    Property Details for 18001 Harlem Ave

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Attention All Developers, Builders 200 Square Feet Frontage On Busy Harlem Ave. 200x272 Vacant Lot On Hight Traffic Harlem Ave, Few Blocks From I-80. Unincorporated Tinley, Build Your Office, Retail Center, Medical Center, Restaurant, Endless Possibilities. Wooded Lot. Drive By Sign On Property.

    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
    Tinley Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.791684
    Latitude
    41.563279

    Comparable in this City

    • $1,100,000

      Prime Commercial Outlot Near Convention

      1.7 acre outlot ideal for retail or hospitality uses.
      18301 Convention Center Dr, Tinley Park, IL 60477
      View Details
    • $599,000
      1.01 Acres

      Land in Tinley Park, IL

      Commercial land available for sale in Tinley Park, Illinois.
      16750 Harlem Ave, Tinley Park, IL 60477
      View Details
    • $375,000

      Oak Park Avenue Land Available

      Land available on Oak Park Ave, Tinley Park. Utilities on-site.
      18230 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • $350,000
      0.70 Acres

      Prime Corner Lot Opportunity

      Versatile commercial lot near Expo Center and Amphitheater.
      18301 Oak Park Ave, Tinley Park, IL 60477
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    • Contact for pricing

      Tinley Park Commercial Land Parcel

      High-visibility land parcel in Tinley Park's downtown district.
      16724 Oak Park Ave, Tinley Park, IL 60477
      View Details

    Similar Nearby for Sale

    • $599,000
      1.01 Acres

      Land in Tinley Park, IL

      Commercial land available for sale in Tinley Park, Illinois.
      16750 Harlem Ave, Tinley Park, IL 60477
      View Details
    • $375,000

      Oak Park Avenue Land Available

      Land available on Oak Park Ave, Tinley Park. Utilities on-site.
      18230 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • $350,000
      0.70 Acres

      Prime Corner Lot Opportunity

      Versatile commercial lot near Expo Center and Amphitheater.
      18301 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • $1,100,000

      Prime Commercial Outlot Near Convention

      1.7 acre outlot ideal for retail or hospitality uses.
      18301 Convention Center Dr, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Tinley Park Commercial Land Parcel

      High-visibility land parcel in Tinley Park's downtown district.
      16724 Oak Park Ave, Tinley Park, IL 60477
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Tinley Park Office Space Available

      Prime office space in downtown Tinley Park near Metra.
      16750 S Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      14,807 SF

      Retail Space Near Sam's Club

      Retail spaces available in grocery-anchored center with high visibility.
      15930-16060 S Harlem Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      131,208 SF

      Manufacturing Warehouse with Heavy Loading

      Manufacturing space for lease with heavy loading and trailer parking.
      7979 W 183Rd St, Tinley Park, IL 60477
      View Details
    • $20 SF/Yr
      2,092 SF

      Harlem Avenue Medical Office Space

      Medical office space with high visibility on Harlem Avenue.
      17047-17059 171St St, Tinley Park, IL 60477
      View Details
    • $25 SF/Yr
      3,325 SF

      Office Complex Near Transportation Hub

      Office complex with executive suites, close to transportation and amenities.
      16345 Harlem Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      32,452 SF

      Industrial Space Near I-80

      Industrial property with convenient access to I-80 in Tinley Park.
      7950 185Th St, Tinley Park, IL 60477
      View Details
    View Listing
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    Tinley Park, IL 60477
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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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    18001 Harlem Ave, Tinley Park, IL, 60477
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