Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    2150 S Mannheim Road Westchester, IL 60154

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $1,500,000

    COMMERCIAL - Westchester, IL

    Lot size:
    0.23 Acres
    Added:
    Aug 29, 2025
    Days on Market:
    253
    Last Refresh:
    May 7 at 11:06 pm

    Property Features for 2150 S Mannheim Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    15204181230000
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    31238

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    2
    Building materials
    Brick

    We can help!

    Listing Contact
    William Pileggi

    Listing agent William Pileggi License #475164218

    Listing office Avenue 1 Realty Group 7652 Madison St., Forest Park, IL

    Listing date Aug 29, 2025

    MLS# 12458908

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick construction provides lasting quality.
    • Enjoy central air conditioning.
    • Built in 1950.

    Overview

    Westchester, IL Commercial Property

    Located in Westchester, Illinois, this commercial property is available for sale. The property is situated on a 0.2284-acre lot. It is classified under property types including duplexes, multifamily properties, and residential income properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westchester
    County
    Sangamon
    State
    Illinois
    Longitude
    -87.8855
    Latitude
    41.8523

    Nearby Similar for Sale

    • $599,900

      Westchester Professional Arts Office Building

      5,400 SF office building with existing tenant for cashflow.
      10540 W Cermak Road, Westchester, IL 60154
      View Details
    • $2,200,000

      Westchester Restaurant with Chicago Skyline Views

      High-quality, fully operational restaurant with newer construction and outdoor patios.
      11055 W Roosevelt Road, Westchester, IL 60154
      View Details
    • $420,000

      Westchester Commercial Building For Sale

      2400 sq ft corner building with ample parking.
      1551 Westchester Boulevard, Westchester, IL 60154
      View Details
    • $650,000

      Westchester Mixed-Use Building For Sale

      Two-story mixed-use building with on-site parking in prime location.
      10550 W Cermak Road, Westchester, IL 60154
      View Details
    • $750,000
      12,000 SF

      Westchester Square Office Building

      Two-story office building with high visibility in Westchester Square.
      9999 W Roosevelt Road, Westchester, IL 60154
      View Details
    • $420,000
      2,400 SF

      Corner Building with Ample Parking

      2400 sq ft corner building suitable for various businesses.
      1551 Westchester Boulevard, Westchester, IL 60154
      View Details
    • $599,900
      5,400 SF

      Professional Arts Office Building

      5,400 SF office building with existing tenant.
      10540 W Cermak Road, Westchester, IL 60154
      View Details
    • $1,500,000
      9,950 SF

      Westchester Retail/Auto Shop Opportunity

      9,950 SF property suitable for retail or auto shop.
      2150 South Mannheim Road, Westchester, IL 60154
      View Details
    • $1,529,500
      2,456 SF

      Westchester Restaurant Property For Sale

      NNN investment opportunity with a long-term lease.
      9950 W Roosevelt Rd, Westchester, IL
      View Details
    • $1,200,000

      Commercial Building with Ample Parking

      Two-story commercial building for investment or owner use.
      10001 Derby Ln, Westchester, IL 60154
      View Details
    • $1,200,000
      20,000 SF

      Commercial Building For Sale

      Two-story commercial building with ample parking and highway access.
      10001 Derby Lane, Westchester, IL 60154
      View Details

    FAQs

    What type of property is this?
    Duplex - Commercial property for sale in Westchester, Illinois.
    Where is this duplex located?
    The property is located at 2150 S Mannheim Road Westchester, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Brick construction provides lasting quality.; Enjoy central air conditioning.; Built in 1950.
    (773) 622-4663
    We can help!
    Listing Contact
    William Pileggi
    Real Estate License ID: 475164218
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2150 S Mannheim Road, Westchester, IL 60154
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!