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    9725 S Karlov Ave, Unit 610 Oak Lawn, IL 60453

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    For Sale
    $178,000

    Updated 2-bedroom condominium in Oak Lawn with modern amenities.

    Property Features for 9725 S Karlov Ave

    General Information

    Interior features
    1, : "Wall Unit(s)", "2": "Baseboard"

    Building Details

    Year built
    1967
    Source: Kw

    Listing Agent: Misael Chacon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Updated Oak Lawn Condominium

    This condominium, located in Oak Lawn, features a spacious layout with abundant natural light. As the largest end unit on the 6th floor, it offers views. The property is conveniently located near shopping, dining, entertainment, and public transportation. The 2-bedroom, 1.5-bathroom condominium was updated in 2025 and features new, water and scratch-resistant wide plank luxury laminate floors throughout. The open floor living space includes a new kitchen with shaker soft-closing cabinets, stainless steel appliances, and granite countertops. A kitchen island provides an entertainment spot. The bathrooms have been redone with new plumbing, vanities, and fixtures. The primary bedroom is spacious and includes a large walk-in closet and a half bath. New programmable wall AC units with remote controls have been installed. Ample storage space is available, with additional storage on the same floor. The property includes one assigned parking space, and visitor parking is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Lawn
    County
    Cook
    State
    Illinois
    Longitude
    -87.7229423
    Latitude
    41.7160993

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    FAQs

    What type of property is this?
    Apartment building - Updated 2-bedroom condominium in Oak Lawn with modern amenities.
    Where is this apartment building located?
    The property is located at 9725 S Karlov Ave, Unit 610 Oak Lawn, IL.
    What is the asking price?
    The asking price for this property is $178,000.
    What are key features of this property?
    This property features: - Completely updated in 2025 with modern finishes, including a brand new kitchen with stainless steel appliances and granite countertops, and updated bathrooms with new plumbing and fixtures.; - Largest end unit on the 6th floor offering spectacular views and abundant natural light.; - Prime location in the heart of Oak Lawn, close to shopping, dining, entertainment, and public transportation.
    Request Owner's contact information
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    Oak Lawn, IL 60453
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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.

    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
    9725 S Karlov Ave, Unit 610 Oak Lawn, IL 60453
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