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    For Sale (13)

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    Residential Income Property
    $295,000

    Residential Income Property

    For-sale residential income opportunity at 1116 S Independence Boulevard in Chicago, suited for buyers seeking rental housing.

    1116 S Independence Blvd, Chicago, IL 60624
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    Brick Three-Unit Residential Building
    $549,900

    Brick Three-Unit Residential Building

    Three-unit brick income property offered for sale, currently in good condition with some updating needed.

    1036 W 18Th St, Chicago, IL 60608
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    Multi-Address Retail Storefront
    $499,000
    0.11 Acres

    Multi-Address Retail Storefront

    Retail storefront property offered for sale at 4213-15 W 26th Street in Chicago, IL.

    4213-15 W 26Th St, Chicago, IL 60623
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    Quadplex Residential Income Property
    $679,900
    0.09 Acres

    Quadplex Residential Income Property

    For sale quadplex featuring multiple residential units in Chicago’s 60608 area.

    2259 S Western Ave, Chicago, IL 60608
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    Frankfort Commercial Land For Sale
    $510,000
    0.84 Acres

    Frankfort Commercial Land For Sale

    Highly visible commercial land in the heart of Frankfort, Illinois.

    7825 W Lincoln Hwy, Frankfort, IL 60423
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    Updated Three-Unit Investment Property
    $495,000

    Updated Three-Unit Investment Property

    Fully updated three-unit property with conversion potential on a double lot.

    3858 W Ohio St, Chicago, IL 60624
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    Mixed-Use Property on Central Avenue
    $565,417
    0.09 Acres

    Mixed-Use Property on Central Avenue

    Mixed-use property with residential units and a storefront bar.

    2345 S Central Ave, Cicero, IL 60804
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    Chicago Two-Flat with Garage
    $355,000

    Chicago Two-Flat with Garage

    Traditional brick two-flat with a two-car garage in Chicago.

    7321 S Rockwell St, Chicago, IL 60629
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    Commercial Vacant Lot For Sale
    $70,000
    0.22 Acres

    Commercial Vacant Lot For Sale

    Prime commercial land in high-traffic area near established businesses.

    14539 Crawford Ave, Midlothian, IL 60445
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    Cicero Multifamily Investment Opportunity
    $479,999
    0.08 Acres

    Cicero Multifamily Investment Opportunity

    Two-unit building with finished basement and recent updates.

    1221 S Austin Blvd, Cicero, IL 60804
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    Updated Chicago Two-Flat For Sale
    $375,000

    Updated Chicago Two-Flat For Sale

    Well-maintained Chicago 2-flat near schools, parks, and transportation.

    6225 S Seeley Ave, Chicago, IL 60636
    View details
    Avondale Luxury Multifamily Property
    $1,999,900

    Avondale Luxury Multifamily Property

    Upscale Avondale building with luxury finishes and sustainable features.

    3317 N Avers Ave, Chicago, IL 60618
    View details
    Commercial Vacant Lot For Sale
    $80,000

    Commercial Vacant Lot For Sale

    High-traffic commercial vacant lot centrally located near established businesses.

    14539 Crawford Ave, Midlothian, IL 60445
    View details

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    • For Sale

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    Luna Realty Group
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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
    Luna Realty Group
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