Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    19150 S 88Th Ave Mokena, IL 60448
    Back to Search
    Property profile & analytics

    19150 S 88Th Ave, Mokena, IL 60448

    View on Map
    • Commercial real estate
    • 7,407 SF
    • 1.84 lot acres
    For Sale
    $3,522,000
    View Listing →
    Mokena Commercial Property For Sale For Sale
    $3,522,000
    7,407 SF

    Mokena Commercial Property For Sale

    High-visibility commercial property in Mokena, Illinois, near major traffic routes.

    19150 S 88th Ave, Mokena, IL 60448
    View Listing
    Property ID
    US28-0120841
    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

    • FedEx Drop Box / Postal Service / Courier Service
    • Firefly Legal / Law Firm
    • status pro mokena il / Tech Support Center / (Bike/Boat/Book/etc) Store

    Property Details for 19150 S 88Th Ave

    Year built
    2006
    Construction
    WOOD
    Lot size
    1.84 lot acres
    Property type
    Commercial real estate
    APN
    19-09-10-205-018-1002
    APU
    1909102050181002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 14, 2025 $1,150,000 Bungalow Ventures LLC Excel Mokena LLC Special Warranty Deed —
    May 1, 2007 $1,290,000 Excel Mokena LLC Corporate Corridors Office LLC Warranty Deed $1.4M · Interstate Bank
    — — Excel Mokena LLC — Deed Of Trust · related $788k · Cnb Bank & Trust NA
    — — Excel Mokena LLC — Deed Of Trust · related $400k · Cnb Bank & Trust NA
    — — Excel Mokena LLC — Deed Of Trust · related $1.3M · Mb Financial Bank NA

    Description

    This exceptional 7,407 square foot office condo, situated on a 1.84-acre lot at 19150 88th Avenue in Mokena, IL, presents a unique investment opportunity. The property boasts an enviable location, offering easy access to both I-80 and I-57, ensuring convenient commutes for employees and clients alike. The entire building is for sale and is part of a three-building condo association, providing a sense of community and shared responsibility. Inside, the condo features abundant natural light, enhancing the welcoming atmosphere. A secured entrance and waiting area create a professional first impression, leading to an ideal check-in reception area. Six private offices provide ample space for individual work or team collaboration. A large conference room is perfect for meetings and presentations, while a comfortably sized breakroom offers a space for relaxation and informal gatherings. Two multi-occupant restrooms cater to the needs of staff and visitors. A climate-controlled server/IT room ensures the security and functionality of vital technology. Finally, a generously sized open office work area, featuring efficient lighting and a full-height drywalled ceiling, provides a bright and airy workspace that promotes productivity and collaboration. This property is priced at $1,325,853 and offers a compelling combination of location, size, and features, making it an attractive option for businesses seeking a modern and functional office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,090,000
      ML approach
      $1,090,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,395,000
      Market price range: $652k - $1.71M
      AI Estimate
      $1,022,000
      Market price range: $292k - $1.08M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mokena
    County
    Will
    State
    Illinois
    Longitude
    -87.8318
    Latitude
    41.5416
    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
    $32,744
    $59,075
    $294,360
    $353,435
    -
    $177,225
    $883,080
    $1,060,305

    Comparable in this City

    • Value Estimation by Request
      3,899 SF

      19225 La Grange Rd

      COMMERCIAL (GENERAL)
      19225 La Grange Rd, Mokena, IL 60448-9348
      View Details
    • Value Estimation by Request
      2,944 SF

      19118 104th Ave

      COMMERCIAL (GENERAL)
      19118 104th Ave, Mokena, IL 60448-8202
      View Details
    • Value Estimation
      $650,000
      12,189 SF

      19117 Wolf Rd

      COMMERCIAL (GENERAL)
      19117 Wolf Rd, Mokena, IL 60448-1050
      View Details
    • Value Estimation by Request
      7,613 SF

      19222 La Grange Rd

      Lifestyle centers
      19222 La Grange Rd, Mokena, IL 60448
      View Details
    • Value Estimation by Request
      2.54 Acres

      191st St And Cres Dr

      Land
      191st St And Cres Dr, Mokena, IL 60448
      View Details
    • Value Estimation by Request
      2,940 SF

      10924 Frnt St

      COMMERCIAL (GENERAL)
      10924 Frnt St, Mokena, IL 60448-2098
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,407 SF

      Mokena Commercial Property For Sale

      High-visibility commercial property in Mokena, Illinois, near major traffic routes.
      19150 S 88Th Ave, Mokena, IL 60448
      View Details
    • $1,000,000
      Pending

      Mokena 47-Acre Equestrian Property

      47-acre equestrian property with indoor arena and multiple outbuildings.
      18409 Haas Rd, Mokena, IL 60448
      View Details
    • $315,000

      Mokena Land For Sale

      Land available in Will County, south of 171st St.
      18670 S Cornflower Ct, Mokena, IL 60448
      View Details
    • Contact for pricing

      Mokena Land For Sale

      8.5-17.81 acres of commercial land in Mokena, Illinois.
      191st 88Th Ave, Mokena, IL 60448
      View Details
    • Contact for pricing

      Mokena Industrial Land Available

      17.81-acre industrial land with utilities and mass grading.
      W 191St St, Mokena, IL 60448
      View Details
    • Contact for pricing

      Mokena Commercial Land Opportunity

      0.55 acre commercial land in Mokena, Illinois.
      19099 Hickory Creek Dr, Mokena, IL 60448
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mokena Salon Space Available

      Turnkey salon space available for immediate occupancy in Mokena.
      10080 191St St, Mokena, IL 60448
      View Details
    • Contact for pricing

      Rehabbed Office Space Available

      Newly rehabbed office space in Downtown Mokena available for rent.
      11225 Front St, Mokena, IL 60448
      View Details
    • Contact for pricing

      Mokena Industrial Space For Lease

      Industrial space with workshop and office near I-80.
      9627 194Th Pl, Mokena, IL 60448
      View Details
    • Contact for pricing
      1,148 SF

      Mokena Retail or Office Space

      Retail or office space available on Wolf Road.
      19806 S Wolf Rd, Mokena, IL 60448
      View Details
    • Contact for pricing
      4,728 SF

      Mokena Office Space Available

      Office space for lease in Mokena, Illinois.
      19201 La Grange Rd, Mokena, IL 60448
      View Details
    • Contact for pricing

      Mokena Office Suites For Rent

      Individual office suites available for rent, utilities and internet included.
      11225 Front St, Mokena, IL 60448
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    19150 S 88Th Ave
    Mokena, IL 60448
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    19150 S 88Th Ave, Mokena, IL, 60448
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!