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New Lenox 60451
1751 Ferro Drive
$380,000
● Land - Off Market

1751 Ferro Drive

New Lenox, IL 60451
bedrooms
Studio
bathrooms
0 Bath
$482,460
RealtyHop Estimate
13.52%
Since Oct 1, 2021
National-US
Primary Model

About This Property

Great location close to I-80 and nearby I-355, I-55, I-57, and I-94  2 attached lots for sale.  With frontage on I-80. Land is located within city limits (Chicago water) with utilities to site.
Unit Size
-
Days on Market
-
Land Size
3.57 acres
Price per sqft
-
Property Type
Land
Property Taxes
$1,168
HOA Dues
-
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 48,749
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: I
  • Subdivision: FERRO INDUSTRIAL PARK
  • Land Acres: 0000001120
  • Standard Land Use Code: 5000
  • County Land Use Code: 0080
  • Legal Description 1: LOT 8 IN FERRO INDUSTRIAL PARK, BEING A SUB OF PRT OF THE SW1/4 OF SEC. 17, T35N-R11E.

Neighborhood

  • School District Name: Lincoln Way Community High School District 210
  • Census Tract: 881111

Geography

  • Parcel: 15-08-17-302-005
  • Lot: 8
  • Meridian: SEC 17 TWN 35N RNG 11E
  • Municipality: NEW LENOX
  • Latitude: 41.5176
  • Longitude: -87.9993

    Address

  • Full Address: 1751 Ferro Dr
  • Address - House Number: 1751
  • Address - Street Name: Ferro
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: New Lenox
  • Zip Code: 60451

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $432,630
  • Tax Rate Code Area: 1509

    Market Valuation

  • Market Total Value: $150,000
  • Market Land Value: $150,000

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $50,000
  • Assessed Land Value: $50,000

    Sales

  • Current Sale Contract Date: Feb 06, 2024
  • Current Sale Recording Date: Feb 08, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 68
  • Current Sale Input Document Number: 6328
  • Previous Sale Recording Date: Sep 16, 2021
  • Previous Sale Contract Date: Sep 08, 2021
  • Previous Sale Amount: $380,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About New Lenox

Stats & Trends

Median Asking:

$440,000

Sale Price/ft²

$212

Below Asking

0.01%

Average Days on Market

44

Average Home Size

2345 ft²

Average Home Age

27.6 years

Currently For Sale

43 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 2515 E Cass Street, Joliet, IL, 60432

$1,800 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
2515 E Cass Street #1A, Joliet, IL, 60432 Listing by Debbie Andrews

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Becky Brown, Baird & Warner
Data Source: MRED, MLS# MRD11184092
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 1751 Ferro Drive built and last sold?
The property at 1751 Ferro Drive was built in and last sold on Feb 6, 2024 for $555,000.
How much is this home worth?
The estimated value of the home located at 1751 Ferro Drive is $0.
What are some comparable homes to 1751 Ferro Drive?
There are currently no comparable homes to 1751 Ferro Drive.
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