Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    681 Parkwood Ave Romeoville, IL 60446

    • Industrial properties
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Sep 13, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1298360
    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

    • Industrial properties

    Property Details for 681 Parkwood Ave

    Lot size
    1.04 lot acres
    Property type
    Industrial properties
    APN
    12-02-34-201-002
    APU
    120234201002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Romeoville
    County
    Will
    State
    Illinois
    Longitude
    -88.0759
    Latitude
    41.6541
    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
    $27,652
    $66,680
    $232,854
    $299,534
    -
    $200,040
    $698,562
    $898,602

    Comparable in this City

    • Value Estimation by Request
      9.55 Acres

      Taylor Rd

      INDUSTRIAL (GENERAL) • 9.55 Acres
      Taylor Rd, Romeoville, IL 60446
      View Details
    • Value Estimation
      $515,000
      4.79 Acres

      1130 Windham Pkwy

      INDUSTRIAL (GENERAL) • 4.79 Acres
      1130 Windham Pkwy, Romeoville, IL 60446-1692
      View Details
    • Value Estimation
      $625,000
      25.91 Acres

      1337 Abbott Rd

      INDUSTRIAL (GENERAL) • 25.91 Acres
      1337 Abbott Rd, Romeoville, IL 60446-1224
      View Details
    • Value Estimation
      $625,000
      46.85 Acres

      1101 Airport Rd

      INDUSTRIAL (GENERAL) • 46.85 Acres
      1101 Airport Rd, Romeoville, IL 60446-5373
      View Details
    • Value Estimation
      $585,000
      8.11 Acres

      Greenwood Ave

      INDUSTRIAL (GENERAL) • 8.11 Acres
      Greenwood Ave, Romeoville, IL 60446
      View Details
    • Value Estimation by Request
      8.53 Acres

      Ww Romeo Rd

      INDUSTRIAL (GENERAL) • 8.53 Acres
      Ww Romeo Rd, Romeoville, IL 60446-1565
      View Details

    Similar Nearby for Sale

    • $575,000

      Romeoville Industrial Lot - $575K

      1+ Acre Industrial Lot, Ready to Build
      33 Belmont Dr, Romeoville, IL 60446
      View Details
    • Contact for pricing
      271,803 SF

      Industrial Space in Crossroads Park

      152,285 SF industrial space with office in Romeoville.
      1200 N Schmidt Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      1.30 Acres

      Weber Pointe: Romeoville Commercial Land

      1.3-Acre Commercial Lot, Prime Location
      0 Weber Rd And Airport Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      3.50 Acres

      Weber Town Center Land - Romeoville, IL

      3.5-acre commercial lot, prime location.
      0 Nwq Weber & Normantown Rd, Romeoville, IL 60446
      View Details
    • $299,000
      1,988 SF

      Spacious Townhome in Malibu Bay

      Well-maintained 3-bedroom townhome with modern amenities and convenient location.
      1033 Key Largo Dr, Romeoville, IL 60446
      View Details
    • New
      $470,000
      3,020 SF

      Former Church Sanctuary in Romeoville

      Move-in ready sanctuary space with open layout and abundant natural light.
      1251 Windham Pkwy, Romeoville, IL 60446
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,517 SF

      Romeoville Warehouse with Loading Dock

      Functional warehouse unit with loading dock and drive-in door.
      140 S Pinnacle Dr, Romeoville, IL 60446
      View Details
    • Contact for pricing
      346,146 SF

      Romeoville Warehouse Space Available

      346,146 sqft warehouse space for lease in Romeoville, IL.
      716 Theodore Ct, Romeoville, IL 60446
      View Details
    • $11 SF/Yr
      9,651 SF

      Renovated Manufacturing Space Available

      Newly renovated manufacturing space with loading dock ramp.
      515 Anderson Dr, Romeoville, IL 60446
      View Details
    • $8,000 /Mo
      7,750 SF

      Romeoville Industrial Building with Parking

      7,750 SF building on 1.92 acres with ample parking.
      201 E Romeo Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      45,093 SF

      Industrial Space in Established Park

      Move-in ready industrial space with immediate interstate access.
      1186-1198 Arbor Dr, Romeoville, IL 60446
      View Details
    • $8 SF/Yr
      73,600 SF

      Prime Romeoville Warehouse Space

      73,600 SF Warehouse - 23,300 SF Available
      1253 Naperville Dr, Romeoville, IL 60446
      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.
    681 Parkwood Ave
    Romeoville, IL 60446
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.