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    Property profile & analytics

    17500 Carriageway Dr Hazel Crest, IL 60429-2057

    • Retail space
    • 4,712 SF
    • 1.94 lot acres
    OFF-MARKET
    Last Sale
    Feb 07, 2022
    $1,150,000
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    7.2%
    Retail space
    Location Intelligence
    Property ID
    US28-1218091
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Artistic Family Dental of Hazel Crest / Dentist / Cosmetic Dentist
    • Melroz Dental / Dental Clinic
    • STW Healthcare / Home Health Care Service
    • Picture Perfect Photography / Photography Service
    • Dr. Esam Jumani / Dentist / Practitioner Service Location

    Property Details for 17500 Carriageway Dr

    Year built
    1978
    Lot size
    1.94 lot acres
    Property size
    4,712 SF
    Property type
    Retail space
    APN
    28-36-100-016
    APU
    2836100016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $905,000
      ML approach
      $915,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,090,000
      6.5%
      $1,005,000
      7%
      $935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,274,000
      Market price range: $330k - $1.27M
      AI Estimate
      $724,000
      Market price range: $198k - $725k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Crest
    County
    Cook
    State
    Illinois
    Longitude
    -87.6909
    Latitude
    41.5711
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $211,066
    $97,872
    $189,628
    $287,500
    -
    $391,488
    $758,512
    $1,150,000

    Comparable in this City

    • Value Estimation
      $310,000
      0.07 Acres

      1921 170th St

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      1921 170th St, Hazel Crest, IL 60429-1361
      View Details
    • Value Estimation
      $270,000
      0.06 Acres

      1829 170th St

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      1829 170th St, Hazel Crest, IL 60429-1404
      View Details
    • Value Estimation
      $260,000
      0.06 Acres

      1826 170th St

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      1826 170th St, Hazel Crest, IL 60429
      View Details
    • Value Estimation
      $340,000
      0.06 Acres

      16774 Dixie Hwy

      STORE, RETAIL OUTLET • 0.06 Acres
      16774 Dixie Hwy, Hazel Crest, IL 60429-1337
      View Details
    • Value Estimation
      $365,000
      0.16 Acres

      16901 Dixie Hwy

      STORE, RETAIL OUTLET • 0.16 Acres
      16901 Dixie Hwy, Hazel Crest, IL 60429-1340
      View Details
    • Value Estimation
      $325,000
      4,183 SF

      3380 183rd St

      RETAIL STORES (PERSONAL SERVICES) • 4,183 SF
      3380 183rd St, Hazel Crest, IL 60429-2425
      View Details

    Similar Nearby for Sale

    • $30,000
      0.06 Acres

      Hazel Crest Retail Opportunity

      2,500 sq. ft. commercial retail property in Hazel Crest, IL.
      1735 170Th St, Hazel Crest, IL 60429
      View Details
    • $900,000
      13,250 SF

      Hazel Crest Grocery Store Investment

      High-traffic grocery store, excellent ROI.
      3500 183Rd St, Hazel Crest, IL 60429
      View Details
    • $30,000
      0.06 Acres

      Hazel Crest Commercial Opportunity

      Commercial property in Hazel Crest, IL, ready for renovation.
      1739 W 170Th St, Hazel Crest, IL 60429
      View Details
    • $2,450,000
      8,068 SF

      17499 Dixie Hwy

      Lifestyle centers • 8,068 SF
      17499 Dixie Hwy, Hazel Crest, IL 60429
      View Details
    • $800,000
      13,250 SF

      Retail Property on 1.84 Acres

      13,250 SF retail building on 1.84 acres for sale.
      3500 W 183Rd St, Hazel Crest, IL 60429
      View Details
    • $190,000
      1,350 SF

      Luxury Condo in Adult Community

      Renovated 2-bedroom, 2-bath condo in Hazel Crest's Waters Edge.
      3505 Lakeview Dr, Hazel Crest, IL 60429
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,378 SF

      Retail Space on 183rd Street

      Retail spaces available in Hazel Crest shopping center.
      3400-3480 W 183Rd St, Hazel Crest, IL 60429
      View Details
    • $18 SF/Yr
      3,180 SF

      Retail Space Near Metra Station

      Retail space with high traffic exposure near Calumet Metra Station.
      17499 Dixie Hwy, East Hazel Crest, IL 60429
      View Details
    • $18 SF/Yr
      1,608 SF

      Hazel Crest Retail Space Available

      Retail space for lease in grocery-anchored Hazel Crest outlot.
      3175 W 175Th St, Hazel Crest, IL 60429
      View Details
    • $13 SF/Yr
      3,497 SF

      Hazel Crest Retail Leasing Opportunity

      Retail spaces available in Hazel Crest with high visibility.
      3310-3370 W 183Rd St, Hazel Crest, IL 60429
      View Details
    • $12 SF/Yr
      1,725 SF

      Retail Space in Hazel Crest

      Retail space available in Hazel Crest, Illinois shopping center.
      17503-17575 Kedzie Ave, Hazel Crest, IL 60429
      View Details
    • $12 SF/Yr
      42,946 SF

      Fountainbleau Court Retail Space

      Hazel Crest, IL shopping center opportunity.
      3400- 183Rd St, Hazel Crest, IL 60429
      View Details
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    Hazel Crest, IL 60429-2057
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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
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