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    Property profile & analytics

    Old Romeo Rd Lockport, IL 60441

    • Industrial properties
    • 2.14 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3382299
    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 Old Romeo Rd

    Lot size
    2.14 lot acres
    Property type
    Industrial properties
    APN
    11-04-02-100-009
    APU
    110402100009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Will
    State
    Illinois
    Longitude
    -88.0588
    Latitude
    41.6383
    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
    $1,656
    $9,045
    $7,889
    $16,934
    -
    $27,135
    $23,667
    $50,802

    Comparable in this City

    • Value Estimation
      $360,000
      0.57 Acres

      345 Caton Farm Rd

      INDUSTRIAL (GENERAL) • 0.57 Acres
      345 Caton Farm Rd, Lockport, IL 60441
      View Details
    • Value Estimation
      $360,000
      0.58 Acres

      348 Caton Farm Rd

      INDUSTRIAL (GENERAL) • 0.58 Acres
      348 Caton Farm Rd, Lockport, IL 60441-9535
      View Details
    • Value Estimation
      $355,000
      0.32 Acres

      204 Industrial Dr

      INDUSTRIAL (GENERAL) • 0.32 Acres
      204 Industrial Dr, Lockport, IL 60441-2884
      View Details
    • Value Estimation
      $645,000
      25.25 Acres

      16675 Prologis Pkwy

      INDUSTRIAL (GENERAL) • 25.25 Acres
      16675 Prologis Pkwy, Lockport, IL 60441-6604
      View Details
    • Value Estimation
      $545,000
      25.79 Acres

      16317 Prologis Pkwy

      INDUSTRIAL (GENERAL) • 25.79 Acres
      16317 Prologis Pkwy, Lockport, IL 60441-6601
      View Details
    • Value Estimation
      $635,000
      18.96 Acres

      16323 Prologis Pkwy Ste, Unit 200

      INDUSTRIAL (GENERAL) • 18.96 Acres
      16323 Prologis Pkwy Ste, Lockport, IL 60441-6607
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20.00 Acres

      Lockport Industrial Land - 20 Acres

      Prime 20-acre industrial site, I-355 access.
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      Lockport Crossings: Prime IL Land

      Exceptional R&D & Retail lots in Lockport, IL.
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      6,800 SF

      6,800 SF Industrial Property

      Two buildings totaling 6,800 SF on +/-3.92 acres.
      699 Green Garden Pl, Lockport, IL 60441
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    • $700,000
      4.92 Acres

      Prime Commercial Land in Lockport, IL

      4.92 Acres, High Traffic, I-355 Access
      15249 159 St, Lockport, IL 60441
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    • $64,900

      Unincorporated Lockport Vacant Land

      Four consolidated vacant lots in Lockport, Illinois.
      2120 California Ave, Lockport, IL 60441
      View Details
    • $1,749,900
      0.08 Acres

      Downtown Lockport Mixed-Use Investment

      New construction mixed-use property in downtown Lockport.
      1016 State St, Lockport, IL 60441
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    Similar Nearby for Lease

    • Contact for pricing
      315,647 SF

      Lockport Warehouse Sublease Opportunity

      Available warehouse space with flexible lease terms through June 2026.
      16323 West Pro Logis Pkwy, Lockport, IL 60441
      View Details
    • Contact for pricing
      228,690 SF

      I-355 Corridor Warehouse Sublease

      62,598 SF warehouse sublease in the I-355 corridor.
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    • $20 SF/Yr
      3,620 SF

      Lockport Retail Space - I-355 Access

      Prime Retail/Office/Medical Building, 3620 SF
      16732 159 St, Lockport, IL 60441
      View Details
    • $28 SF/Yr
      41,913 SF

      Lockport Retail Pad - I-355 Access

      Build-to-suit retail space, prime location.
      16101 Farrell Rd, Lockport, IL 60441
      View Details
    • $35 SF/Yr
      3,000 SF

      Retail Space in Planned Development

      Retail property available for lease in Lockport, Illinois.
      902-904 S State St, Lockport, IL 60441
      View Details
    • Contact for pricing
      8,000 SF

      Lockport Office Space: 2,025 SF

      Prime Lockport office, single tenant, 2,025 sq ft.
      16610 159 St, Lockport, IL 60441
      View Details
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    Old Romeo Rd
    Lockport, IL 60441
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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.

    More about this property
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