15442 W 159th St
Homer Glen, IL 60491
Land For Sale · 19.14 AC

Income Producing Multi-Tenant Development Property Prime Investment and Development Opportunity Collect rents from well-established, stable tenants while developing 19.143 acres in rime corridor. Annual Net Operating Income of $100,000. Land is suitable for commercial, light industrial and/or residential development. Perfect for developer or owner/user. Great location on Illinois State Route 7 - 159th Street, new divided 5-lane highway, approximately a mile from interchange of I-355. Development Acreage: 19.143 acres of land prime for commercial, light industrial and/or residential development. The Property has approximately 658.52 feet of frontage along 159th Street (Illinois Route 7). It is approximately 1,266 feet deep. Significant valuation upside in the immediate area as land is rapidly appreciating in high growth 159th Street Corridor. The newly built driveway from 159th Street is at a full median break. Has elevations and design for semi-trailer use. Full median break occurs in the middle of WHF frontage so there will be easy access to the east and west side frontage parcels when developed. 10,580 square foot main building. Pre-engineered construction; fully insulated. Investment income opportunity as building is currently occupied with two long-time tenants. Main portion of building is air-conditioned and has natural gas heating. Loading dock and drive-in-door. West side addition has a 4-bay garage and shop with overhead doors and separate large office space. Office has air-conditioning along with natural gas heat. Commercial Building is in excellent condition, meticulously maintained and has great visibility from the highway. Property has one-bedroom house with wood-burning fireplace and walk-out basement. Currently being rented as office space but suitable for a caretaker residence or income producing rental property. Natural gas heat and air-conditioned. Active long-term Tenants: Amish Furniture sales and Landscape Management Company occupy Commercial Building, House, and Yard. Tenants are well-established and stable. Low Will County Real Estate Taxes: $8,611.56 (2019 payable in 2020). Zoning: C-2, Commercial, Unincorporated Will County for frontage parcel 500 feet wide and approximately 475 feet deep. A-1, Agricultural for balance of parcel. Ideal Topography: Acreage is fully usable. Currently farmland, it sits high and dry without trees to clear. Current Utilities: Existing well and new septic system installed within the past four years. New Utilities: The property is ready for development with full Homer Glen water and sewer improvements completed to serve the property. Water line is along 159th Street. Sewer line is through neighboring Forest Preserve. Commercial Building Specs: Address: 15442 West 159th Street (IL Route 7), Lockport (Homer Glen), Illinois County: Will Total Building Size: 10,580 Square Feet, Multi-Tenant Building Type: Pre-Engineered, fully insulated Building Dimensions: Irregular Ceiling height: 13’ clear Docks: 1 Exterior - 10’x 10’ Drive-In-Doors: 5 – 10’x 10’ West Side: 4-bay garage with four overhead doors Floor: 8” Concrete in Excellent Condition Power: 200 AMPS, 220 VOLTS Car Parking: 40+ Spaces Trailer Parking: Available Zoning: C-2 Commercial, Unincorporated Will County Lighting: LED Occupancy: Fully Leased Comments: • Located in High Growth Area • Great Visibility on newly improved Illinois Route 7, 159th Street • Seconds to I-355 Interchange • Well known location of Home Furnishings Business and Landscape Management Company • 10 Minutes to I-80 • Broker Owned For more information, please call broker Larry Locascio at 708-689-0098. Do not call tenants.