Polyester polyols made from thermoplastic polyester is disclosed. The polyol, unused PET, recycled PET, or after obtaining the decomposition intermediate was heated with glycol, a thermoplastic polyester such as a mixture thereof, a and a degradation intermediate and dimer fatty acid condensed with polyols It can be produced by obtaining. The present invention includes a polyester polyol containing repeating units of glycolysis thermoplastic polyesters and dimer fatty acid. The polyester polyols may also, under conditions effective to produce a polyol, thermoplastic polyester, by reacting glycol, and dimer acid can be produced in a single step. High polyol recyclable material content having the properties and attributes desired in formulating polyurethane products comprising an aqueous polyurethane dispersion can be made. The polyol provides sustainable alternative to biological systems or petrochemical-based polyols.