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    7234 W North Ave, Unit 1902 Elmwood Park, IL 60707

    Sponsored
    For Sale
    $79,900

    COMMERCIAL - Elmwood Park, IL

    Type:Office
    Lot size:
    0.23 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 13 at 8:06 am

    Property Features for 7234 W North Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    12364300411000
    Lot size
    0.23 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1968
    Number of units
    198
    Building materials
    Brick

    We can help!

    Listing Contact
    Dympna Fay-Hart

    Dream Town Realty (312) 265-8000

    Listing agent Dympna Fay-Hart (773) 230-3800

    Listing date Feb 10, 2026

    MLS# 12565740

    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.

    Learn more

    Property Insight Report

    Overview

    Elmwood Park Commercial/Flex Space

    Located just west of the North and Harlem Avenue intersection in Elmwood Park, this commercial/flex space is situated steps from the new Rush hospital campus. The property consists of two combined commercial spaces, units 1902 and 1905, on the 19th floor of Cameo Towers. The 19th floor is the only floor in the building that allows for both commercial and residential options, making it a unique opportunity for a live/work unit. Cameo Towers consists of 178 residential units and 20 commercial units. This penthouse space offers the perfect opportunity to design a custom office, flex space, or condo living unit. The building provides access to a large panoramic party room, an outdoor swimming pool, a sun deck, and indoor parking. Nearby retailers include Walgreens, Panera Bread, and CVS, along with several restaurants. The property is located in Cook County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    S & E Property ... Property Management Company James H Cunningham ... Insurance Agency TW0ZER0 LLC Consultant Tapped In Worldwide (Bike/Boat/Book/etc) Store Brown Women Wellness Wellness Program

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmwood Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8077087
    Latitude
    41.9091488

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    FAQs

    What type of property is this?
    Live-work space - Unique commercial/flex space near Rush hospital campus in Elmwood Park.
    Where is this live-work space located?
    The property is located at 7234 W North Ave, Unit 1902 Elmwood Park, IL.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: - Unique commercial/flex or residential deconstructed space on the 19th floor.; - Ideal live/work unit opportunity for custom design.; - Located steps from the New Rush hospital campus in Elmwood Park.
    (312) 265-8000
    Request Owner's contact information
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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
    7234 W North Ave, Unit 1902 Elmwood Park, IL 60707
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    We can help!
    Listing Contact
    Dympna Fay-Hart
    Real Estate License ID: 471017153
    (312) 265-8000 (773) 230-3800 (773) 631-8300
    Learn more
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