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    Property profile & analytics

    224 Mississippi Ave Elwood, IL 60421-9218

    • Commercial land
    • 0.29 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Dec 29, 2023
    Location Intelligence
    Property ID
    US28-5893656
    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 land

    Property Details for 224 Mississippi Ave

    Lot size
    0.29 lot acres
    Property type
    Commercial land
    APN
    10-11-29-123-004
    APU
    101129123004

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elwood
    County
    Will
    State
    Illinois
    Longitude
    -88.1078
    Latitude
    41.4039
    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
    $1,296
    $20,910
    $0.00
    $20,910
    -
    $62,730
    $0.00
    $62,730

    Comparable in this City

    • Value Estimation by Request
      1.68 Acres

      Lincoln-way Dr

      VACANT COMMERCIAL LAND • 1.68 Acres
      Lincoln-way Dr, Elwood, IL 60421
      View Details
    • Value Estimation by Request
      2.29 Acres

      53 Ss St

      VACANT COMMERCIAL LAND • 2.29 Acres
      53 Ss St, Elwood, IL 60421
      View Details
    • Value Estimation by Request
      0.01 Acres

      Mississippi Ave

      VACANT COMMERCIAL LAND • 0.01 Acres
      Mississippi Ave, Elwood, IL 60421
      View Details
    • Value Estimation by Request
      2.11 Acres

      Mississippi Ave

      VACANT COMMERCIAL LAND • 2.11 Acres
      Mississippi Ave, Elwood, IL 60421
      View Details
    • Value Estimation by Request
      11.75 Acres

      Schweitzer Rd

      VACANT COMMERCIAL LAND • 11.75 Acres
      Schweitzer Rd, Elwood, IL 60421
      View Details
    • Value Estimation by Request
      2.35 Acres

      Lincoln-way Dr

      VACANT COMMERCIAL LAND • 2.35 Acres
      Lincoln-way Dr, Elwood, IL 60421
      View Details

    Similar Nearby for Sale

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    • $80,000
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      39.29 acres of A-1 zoned land in Illinois.
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    • $325,000
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      Elwood Commercial Lot: Prime Location

      High-traffic corner lot, ready to build.
      11 Mississippi Ave, Elwood, IL 60421
      View Details
    • $60,000
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      Residential Land in Meadowbrook, Elwood

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    Similar Nearby for Lease

    • Contact for pricing

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      Industrial Land with Rail Access

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      383,494 SF

      Elwood Warehouse Space Available

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      826,755 SF

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      Modern Warehouse & Office Suites Available
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      148,815 SF

      Elwood Warehouse with Intermodal Access

      148,815 SF warehouse near UP Joliet Intermodal.
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    • Contact for pricing
      16,000 SF

      Joliet Warehouse Space Available

      16,000 sq ft warehouse space for lease in Joliet.
      2800 Schweitzer Rd, Joliet, IL 60421
      View Details
    Request Owner's contact information
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    224 Mississippi Ave
    Elwood, IL 60421-9218
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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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