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    7415 Dixon St Forest Park, IL 60130

    Sponsored
    For Sale
    $600,000

    MULTI_FAMILY - Victorian - Forest Park, IL

    Days on Market:
    2
    Last Refresh:
    Jan 22 at 8:06 pm

    Property Features for 7415 Dixon St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 2, Loft, Bedroom 4, Bedroom 1, Basement, Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 3
    Bedrooms
    5
    Bathrooms
    3
    APN
    15124090140000
    Parking
    8
    Parking features
    Garage, Off Alley
    Basement
    Partial, Finished, Exterior Entry

    Utilities

    Heating system
    Other (Heating), Natural Gas, Electric (Heating)

    Building Details

    Year built
    1923
    Building materials
    Vinyl Siding
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Robert Hann
    Robert Hann

    Weichert, Realtors-Nickel Group (708) 848-5550 [email protected]

    Listing agent Robert Hann (847) 567-3518

    Listing date Jan 21, 2026

    MLS# 12452749 Listing URL

    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

    Victorian Double Lot Forest Park

    Located at 7415 Dixon, this property is a timeless home situated on a rare double lot, a few blocks from the heart of Forest Park, Oak Park, and River Forest. The property features a lush front yard, towering trees, and a classic facade. The main level includes a gracious entryway leading to formal living and dining rooms with hardwood floors, crown molding, and large windows. A first-floor bedroom and an adjacent full bath are present. The kitchen is equipped with 42-inch maple cabinetry, ample counter space, and stainless-steel appliances, opening to a breakfast area and a sunroom with newer Andersen windows overlooking the yard. The upper level contains two additional bedrooms, an office, and an expansive family room/rec area. The basement offers a self-contained in-law suite, a laundry room, and storage. The property includes classic touches such as Kohler sinks and toilets and an antique clawfoot tub. Set on a double lot with mature landscaping and perennial gardens, it also features two garages. This property offers the potential to be renovated into a single-family residence or re-converted to a three-flat for investment income. Commuters have proximity to the Green Line, Metra, and I290, with Oak Park, River Forest, O'Hare, and Midway a short drive away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest Park
    County
    Will
    State
    Illinois
    Longitude
    -87.810442
    Latitude
    41.884529

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    FAQs

    What type of property is this?
    Triplex - Timeless home on a rare double lot.
    Where is this triplex located?
    The property is located at 7415 Dixon St Forest Park, IL.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: - Rare double lot in a prime location near Forest Park, Oak Park, and River Forest downtown areas.; - Potential for renovation into a grand single-family home or conversion to a three-flat for investment income.; - First-floor bedroom with adjacent full bath, ideal for guests or multi-generational living.
    (847) 567-3518
    Request Owner's contact information
    7415 Dixon St Forest Park, IL 60130
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    Forest Park, IL 60130
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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
    7415 Dixon St Forest Park, IL 60130
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    We can help!
    Listing Contact
    Robert Hann
    Robert Hann
    Real Estate License ID: 475168729
    (847) 567-3518
    Learn more
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