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    2915 Gorman Rd Mazon, IL 60444
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    2915 Gorman Rd, Mazon, IL 60444

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    • Commercial real estate
    • 20.00 lot acres
    Off-Market
    Property ID
    US28-2206214
    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 real estate

    Property Details for 2915 Gorman Rd

    Lot size
    20.00 lot acres
    Property type
    Commercial real estate
    APN
    09-18-400-007, 09-18-400-006

    Description

    This exceptional 20-acre property in Mazon, Illinois, presents a unique blend of rural living and equestrian amenities. The 3,420-square-foot, all-brick-and-stone home boasts five bedrooms and 3.5 bathrooms, featuring custom finishes such as 9- and 10-foot ceilings, transom windows, and six-panel doors. The kitchen includes granite countertops, mission-style oak cabinets, and stainless steel appliances. A wood-burning stove graces the eat-in area, creating a cozy gathering space. The main floor master suite offers a tray ceiling, walk-in closet, and a recently updated master bathroom with a jet tub, double sinks, and a dual rain shower head. Additional bedrooms share access to full bathrooms, and a fifth bedroom/bonus room above the garage, complete with a walk-in closet and full bath, provides ample space for guests or extended family. A heated and insulated two-car attached garage includes a drain and slop sink. A full, unfinished basement offers 9-foot ceilings and rough-in plumbing for a future bathroom. The property also includes a 36x72 Morton pole barn with six horse stalls, each featuring tongue-and-groove walls, mats, and four with Dutch doors leading to individual paddocks. Additional barn features include a tack room, wash rack, and hay loft. A cinder block outbuilding with electric, a concrete floor, two 10-foot overhead doors, and a separate heated workshop area provides versatile storage and workspace. The 15-year-old roof ensures long-term durability. The property's landscape is equally impressive, featuring a park-like setting with wooded areas, tillable land, pasture, and mature oak, black walnut, hickory, and mulberry trees. A four-board vinyl fenced pasture and a 60-foot steel round pen are also included. The property is zoned A-1 (Agriculture) and has two parcel numbers (APN: 09-18-400-007, 09-18-400-006), potentially allowing for the construction of a second residence, subject to county approval. Located at 2915 S Gorman Rd, Mazon, IL 60444, this property offers a tranquil country escape with ample space for both personal enjoyment and various agricultural or equestrian pursuits. A chicken coop and playhouse are included.

    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
    Mazon
    County
    Grundy
    State
    Illinois
    Longitude
    -88.3427787
    Latitude
    41.2440998

    Comparable in this City

    • $170,000
      7.50 Acres

      Mazon, IL Land For Sale

      7.5 acre agricultural land for sale in Mazon, Illinois.
      S Jugtown Rd, Mazon, IL 60444
      View Details
    • $39,000

      Land For Sale

      Land available for sale.
      900-902 Center St, Mazon, IL 60444
      View Details
    • $250,000
      0.16 Acres

      Commercial Property in Mazon, IL

      Commercial property for sale in Mazon, Illinois.
      518 Depot St, Mazon, IL 60444
      View Details

    Similar Nearby for Sale

    • $170,000
      7.50 Acres

      Mazon, IL Land For Sale

      7.5 acre agricultural land for sale in Mazon, Illinois.
      S Jugtown Rd, Mazon, IL 60444
      View Details
    • $39,000

      Land For Sale

      Land available for sale.
      900-902 Center St, Mazon, IL 60444
      View Details
    • $250,000
      0.16 Acres

      Commercial Property in Mazon, IL

      Commercial property for sale in Mazon, Illinois.
      518 Depot St, Mazon, IL 60444
      View Details
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    Mazon, IL 60444
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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.

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