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    Bruce Heller, Tinley Park, IL

    License ID: 471007740
    Years of Experience
    18
    Association
    Illinois Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (312) 266-7000
    Office Address:
    1910 N Clybourn, Chicago, IL, 60614-5062

    Performance

    Listings
    18
    Total transactions
    35
    Total transactions amount
    $15M
    Price range
    $286k - 644k
    Average price
    $429k

    Listings

    For Sale (5)

    View map
    • $799,000

      Industrial Buildings with Development Potential

      Two adjacent industrial buildings totaling 6,726 SF on 4,799+ SF land.
      1854 W Grand Ave, Chicago, IL 60622
      View Details
    • $625,000

      Mixed-Use Property on Lincoln Avenue

      Two-story mixed-use building with parking, suitable for renovation or redevelopment.
      2654 N Lincoln Ave, Chicago, IL 60614
      View Details
    • $350,000
      1,700 SF

      Irving Park Commercial Condo

      1,700 SF commercial condo with gourmet kitchen in Chicago.
      4012 N Pulaski Rd, Chicago, IL 60624
      View Details
    • Contact for pricing

      Ravenswood Retail Space For Sale

      High-profile retail space in Ravenswood with parking and signage.
      1724 W Lawrence Ave, Chicago, IL 60640
      View Details
    • $580,000

      Mixed-Use Property with Parking

      Two-story mixed-use property featuring a commercial space and apartment.
      2654 N Lincoln Ave, Chicago, IL 60614
      View Details

    For Lease (13)

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    • $14 SF/Yr

      Retail Space on Peterson Avenue

      High-traffic retail space with excellent visibility and signage options.
      1964 W Peterson Ave, Chicago, IL 60660
      View Details
    • $55 SF/Yr

      High Exposure Corner Location

      Former restaurant space suitable for restaurant, office, or retail.
      3101 N Clybourn Ave, Chicago, IL 60618
      View Details
    • $17 SF/Yr

      Loft Office Space Available

      4,937 SF loft office with high ceilings and hardwood floors.
      434 W Ontario St, Chicago, IL 60610
      View Details
    • $20 SF/Yr

      Restaurant Space with Equipped Kitchen

      Turn-key restaurant space with fully equipped kitchen and banquet room.
      434 W Ontario St, Chicago, IL 60610
      View Details
    • $20 SF/Yr

      Equipped Restaurant Space For Rent

      Second-generation restaurant space with fully equipped kitchen and banquet room.
      434 W Ontario St, Chicago, IL 60610
      View Details
    • $20 SF/Yr

      Albany Park Retail Space Available

      Redeveloped retail space in Albany Park with customizable layout.
      3240 W Lawrence Ave, Chicago, IL 60625
      View Details
    • $16 SF/Yr
      1,500 SF

      Skokie Office Space For Rent

      Well-laid out office space with dedicated parking in Skokie.
      4115 Oakton St, Skokie, IL 60076
      View Details
    • Contact for pricing
      1,122 SF

      Retail Space on Peterson Avenue

      Retail space available in a high-traffic strip center.
      1954 W Peterson Ave, Chicago, IL 60660
      View Details
    • $20 SF/Yr

      Restaurant Space with Equipped Kitchen

      Move-in ready restaurant space with fully equipped kitchen.
      434 W Ontario St, Chicago, IL 60610
      View Details
    • $18 SF/Yr

      Furnished Loft Office Space

      Furnished 4,937 SF loft office space for rent.
      434 W Ontario St, Chicago, IL 60654
      View Details
    • $35 SF/Yr

      Ravenswood Retail Space For Rent

      High-profile retail space in Ravenswood with parking and upgrades.
      1724 W Lawrence Ave, Chicago, IL 60640
      View Details
    • $17 SF/Yr

      Loft Office Space Available

      4,937 SF loft office space for rent.
      434 W Ontario St, Chicago, IL 60610
      View Details
    • New
      $40 SF/Yr

      High-Exposure Corner Restaurant Opportunity

      Turnkey restaurant and bar space with high traffic exposure.
      3523 N Kedzie Ave, Chicago, IL 60618
      View Details

    Leases and Sales on Map

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    Bruce Heller, Tinley Park, IL
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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.

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    Bruce Heller, Tinley Park, IL
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