Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    24045 Central Ave Monee, IL 60449-9595
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24045 Central Ave Monee, IL 60449-9595

    View on Map
    • Commercial real estate
    • 18.08 lot acres
    Off-Market
    Property ID
    US28-2094839
    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

    • Carbon & Alloy Steel Corporation / Metal Fabrication Plant / Factory

    Property Details for 24045 Central Ave

    Lot size
    18.08 lot acres
    Property type
    Commercial real estate
    APN
    21-14-09-100-013
    APU
    211409100013

    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
    Monee
    County
    Will
    State
    Illinois
    Longitude
    -87.7455
    Latitude
    41.4535
    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
    $47,260
    $88,508
    $393,993
    $482,501
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,704 SF

      4818 Main St

      COMMERCIAL (GENERAL) • 4,704 SF
      4818 Main St, Monee, IL 60449-9756
      View Details
    • Value Estimation by Request
      2,197 SF

      6212 Monee Manhattan Rd

      COMMERCIAL (GENERAL) • 2,197 SF
      6212 Monee Manhattan Rd, Monee, IL 60449-9161
      View Details
    • Value Estimation
      $505,000
      10,600 SF

      25542 Sunrise Dr

      COMMERCIAL (GENERAL) • 10,600 SF
      25542 Sunrise Dr, Monee, IL 60449-8517
      View Details
    • Value Estimation by Request

      25882 Sunset Dr, Unit B

      COMMERCIAL (GENERAL)
      25882 Sunset Dr, Monee, IL 60449-7024
      View Details
    • Value Estimation
      $3,200,000
      3,696 SF

      6001 Monee Manhattan Rd

      COMMERCIAL (GENERAL) • 3,696 SF
      6001 Monee Manhattan Rd, Monee, IL 60449-9849
      View Details
    • Value Estimation by Request
      2,144 SF

      26000 Chestnut Rd

      COMMERCIAL (GENERAL) • 2,144 SF
      26000 Chestnut Rd, Monee, IL 60449-8088
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Near Fortune 500 Companies

      Commercial land with access to I-57 interchange.
      5552 W Steger Rd, Monee, IL 60449
      View Details
    • $5,750,000

      University Park Land Opportunity

      58 acres of land available in University Park, Illinois.
      475 Crossing Dr, University Park, IL 60449
      View Details
    • $999,000
      8.73 Acres

      Monee Land at Cicero Junction

      8.73 acres of commercially zoned land near I-57.
      24306 S Governors Hwy, Monee, IL 60449
      View Details
    • $85,000
      2.59 Acres

      Vacant Land Ready For Home

      2.59 acres of vacant land in Monee, Illinois.
      24700 S Murphy Ln, Monee, IL 60449
      View Details
    • $64,500
      0.88 Acres

      Premier Residential Airpark Land

      Land in an exclusive gated fly-in community near Chicago.
      25052 S Doolittle Dr, Monee, IL 60449
      View Details
    • $129,000
      1.77 Acres

      Residential Airpark Land Opportunity

      Land for estate-style home with private hangar in gated community.
      25014 S Doolittle Dr, Monee, IL 60449
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      End Cap with Double Drive-Thru

      First generation end cap with double drive-thru and stacking plan.
      25451 S Ridgeland Ave, Monee, IL 60449
      View Details
    • Contact for pricing
      95,832 SF

      New Industrial Space Near I-57

      Modern industrial space in Monee, Illinois, near Amazon distribution facility.
      6350 W Emerald Pkwy, Monee, IL 60449
      View Details
    • Contact for pricing
      2,600 SF

      Monee End Cap Restaurant Space

      First generation end cap with double drive-thru.
      25461 S Ridgeland Ave, Monee, IL 60449
      View Details
    • Contact for pricing

      University Park Distribution/Warehouse Space

      Distribution and warehouse property in University Park, Illinois available for rent.
      Governors Hwy & Dralle Rd, University Park, IL 60449
      View Details
    • $9 SF/Yr
      47,000 SF

      Monee Industrial Campus: For Lease

      New 47,000 SF Industrial Space Available
      6340 Emerald Pkwy, Monee, IL 60449
      View Details
    • Contact for pricing

      Monee Industrial Property for Lease

      Industrial property available for lease in Monee, Illinois.
      Ridgeland Rd, Monee, IL 60449
      View Details
    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.
    24045 Central Ave
    Monee, IL 60449-9595
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!