Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3001 Butterfield Rd Oak Brook, IL 60523
    Back to Search
    Property profile & analytics

    3001 Butterfield Rd Oak Brook, IL 60523

    View on Map
    • Commercial land
    • 0.63 lot acres
    For Sale
    $1,950,000
    View Listing →
    Oak Brook Promenade Land Opportunity For Sale
    $1,950,000
    69,120 SF

    Oak Brook Promenade Land Opportunity

    Land for hotel surrounded by retail, restaurants, and businesses.

    3001 - 3051 Butterfield Road, Oak Brook, IL 60523
    View Listing
    Property ID
    US28-4768442
    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

    • Movement Technology Institute / Charitable Organization / Social Service Agency

    Property Details for 3001 Butterfield Rd

    Lot size
    0.63 lot acres
    Property type
    Commercial land
    APN
    06-28-103-024
    APU
    628103024

    Description

    This exceptional ±2-acre commercial land parcel presents a unique development opportunity within the highly sought-after Oak Brook Promenade. Located at 3001 Butterfield Road in DuPage County, Illinois (zip code 60523), this property boasts unparalleled visibility from I-88 and its position along the high-traffic Butterfield Road, a major commercial artery. The site is ideally situated near prominent businesses, including McCormick and Schmick's, which anchors the Oak Brook Promenade. The surrounding area offers a wealth of amenities, including numerous restaurants and retail establishments, creating a vibrant and convenient environment. This location is strategically positioned less than two miles from the Butterfield Country Club and Butler National Golf Club, and is also conveniently close to the Oak Brook Shopping Center and Yorktown Mall. The property's proximity to major corporations such as Ace Hardware, Blistex, Federal Signal, and CenterPoint Properties, which have headquarters in Oak Brook, further enhances its appeal. With a median family income of $175,500, this location offers a strong demographic profile. The asking price for this prime development site is $2,200,000. This is a rare opportunity to acquire a highly visible and accessible land parcel in a thriving commercial area just 19 miles west of downtown Chicago.

    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
    Oak Brook
    County
    Dupage
    State
    Illinois
    Longitude
    -87.9932
    Latitude
    41.8394
    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
    $7,098
    $137,980
    $0.00
    $137,980
    -
    $413,940
    $0.00
    $413,940

    Comparable in this City

    • Value Estimation by Request
      1.72 Acres

      2030 York Rd

      VACANT COMMERCIAL LAND • 1.72 Acres
      2030 York Rd, Oak Brook, IL 60523-1966
      View Details
    • Value Estimation by Request
      1.73 Acres

      1400 16th St

      VACANT COMMERCIAL LAND • 1.73 Acres
      1400 16th St, Oak Brook, IL 60523-1306
      View Details
    • Value Estimation by Request
      0.12 Acres

      22nd St

      VACANT COMMERCIAL LAND • 0.12 Acres
      22nd St, Oak Brook, IL 60523
      View Details
    • Value Estimation by Request
      1.46 Acres

      Oak Brook, IL 60523

      VACANT COMMERCIAL LAND • 1.46 Acres
      Oak Brook, IL 60523
      View Details
    • Value Estimation by Request
      0.46 Acres

      17th Roosevelt Rd

      VACANT COMMERCIAL LAND • 960 SF
      17th Roosevelt Rd, Oak Brook, IL 60523
      View Details
    • Value Estimation by Request
      4.38 Acres

      Oak Brook, IL 60523

      VACANT COMMERCIAL LAND • 4.38 Acres
      Oak Brook, IL 60523
      View Details

    Similar Nearby for Sale

    • $1,950,000

      Oak Brook Promenade Land Opportunity

      Land for hotel surrounded by retail, restaurants, and businesses.
      3001 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • $950,000

      Oak Brook Outparcel Opportunity

      Outparcel for sale or lease near Oakbrook Center.
      22-nd 22Nd St, Oak Brook, IL 60523
      View Details
    • Contact for pricing

      Oak Brook Promenade Hotel Site

      Prime hotel site in Oak Brook Promenade near I-88.
      3001 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • $1,500,000
      2.18 Acres

      Oak Brook Land with Frontage

      Rare 2.18-acre lot with extensive frontage in Oak Brook.
      3403 York Rd, Oak Brook, IL 60523
      View Details
    • $2,195,000
      0.74 Acres

      Oak Brook Land Opportunity

      Land for sale in prestigious gated community, Oak Brook, IL.
      1753 Midwest Club Pkwy, Oak Brook, IL 60523
      View Details
    • $489,993
      0.59 Acres

      Residential Land in Oak Brook

      Half-acre lot ready for your dream home with walkout basement.
      7 Yorkshire Wood Lot 8 Dr, Oak Brook, IL 60523
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr

      Oak Brook Office Space Available

      Office space available for lease in Oak Brook, Illinois.
      915 Harger Rd, Oak Brook, IL 60523
      View Details
    • $16 SF/Yr
      10,585 SF

      Oak Brook Office Space Available

      Office space for rent in Oak Brook, Illinois.
      1520 Kensington Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      16,083 SF

      Renovated Office Space For Rent

      Office space with renovated common areas and ample parking.
      2809 Butterfield Rd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      1,503 SF

      Oakbrook Terrace Office Space Available

      Office space for rent with covered parking and on-site amenities.
      1 Oakbrook Ter, Oakbrook Terrace, IL 60523
      View Details
    • $22 SF/Yr
      46,875 SF

      Oak Brook Office Technology Campus

      Office space in the heart of Oak Brook.
      800 Jorie Blvd, Oak Brook, IL 60523
      View Details
    • Contact for pricing
      14,862 SF

      Office Space Near Oak Brook

      Office space with excellent amenities and convenient location.
      900 Commerce Dr, Oak Brook, IL 60523
      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.
    3001 Butterfield Rd
    Oak Brook, IL 60523
    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
    3001 Butterfield Rd, Oak Brook, IL, 60523
    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!