Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    First Floor Condo with Garage Title is generated by Realmo AI

    17960 Royal Oak Court #1N, Tinley Park, IL 60477

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $227,000

    Two-bedroom condo with garage, in-unit laundry, and updated features.

    Type:Condominium
    Property size:
    1,100 SF
    Price / SF:
    $206/SF
    Added:
    Aug 19, 2025
    Days on Market:
    276
    Last Refresh:
    May 19 at 11:09 pm

    Property Features for 17960 Royal Oak Court #1N

    General Information

    Standard status
    Active
    Size
    1,100 SF
    Property subtype
    Condominium

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    Mark Vaccaro
    Mark Vaccaro

    Listing agent Mark Vaccaro License #577382

    Listing office Century 21 Circle

    Listing date Aug 19, 2025

    Source Kw

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

    All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle

    HighLights

    • First floor unit with 1‑car garage plus assigned space.
    • Low property taxes and low monthly HOA fee.
    • Hardwood flooring throughout living areas and bedrooms.
    • In‑unit laundry.
    • Updated kitchen with newer appliances and countertops.
    • HOA includes pool, clubhouse, exterior maintenance, and landscaping.

    Overview

    This first-floor condo features two bedrooms and one and a half bathrooms. It includes a one-car garage and an assigned parking space. In-unit laundry is available. Hardwood flooring extends throughout the living areas, dining room, hallway, and both bedrooms. The spacious kitchen offers ample room for a table and includes a movable kitchen cart. Flexicore construction minimizes noise from neighbors. Recent updates include a washer, dishwasher, and balcony carpeting in '23; a dryer in '22; and kitchen countertops, sink, faucet, and water filter in '21. A new furnace, garage door opener, and ice maker were installed in '19. The property benefits from low property taxes and a low monthly HOA fee, which covers the pool, clubhouse, exterior maintenance, landscape, lawn care, and garbage services. The spacious balcony faces east, providing morning sun.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $141.8K
    NOI $12,761 @ 9.00% cap · cautious / downside scenario
    Moderate
    $182.3K
    NOI $12,761 @ 7.00% cap · market / base-case scenario
    Aggressive
    $255.2K
    NOI $12,761 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $24.9k $22.68
    − Vacancy −$1.7k −$1.59
    EGI $23.2k $21.09
    − OpEx −$10.4k −$9.49
    NOI $12.8k $11.60
    1,100 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $182.3K
    $159.5K – $212.7K (±1% cap)
    NOI $12,761 @ 7.0% cap · market cap 5.62%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $379.8K
    $332.3K – $443.1K (±1% cap)
    NOI $26,585 @ 7.0% cap · market cap 11.71%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.7949
    Latitude
    41.5679

    Nearby Similar for Sale

    • $140,000

      Boba Tea Shop Assets

      Fully equipped boba tea shop assets for sale.
      15945 Harlem Avenue, Tinley Park, IL 60477
      View Details
    • $45,000

      Tinley Park Office Center Opportunity

      Lower-level office space suitable for professional or flex use.
      7060 Centennial Drive, Tinley Park, IL 60477
      View Details
    • $159,900
      1,400 SF

      Versatile Office Condo in Tinley

      Office condo for sale, ideal for various business uses.
      17710 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      5,004 SF

      Tinley Park Commercial Building For Sale

      5,004 SF building on 1.21 acres near Metra.
      17865 South 80th Avenue, Tinley Park, IL, 60477
      View Details
    • $5,062,500
      14,820 SF

      Tinley Park Walgreens For Sale

      NNN leased Walgreens with over 7 years remaining on primary lease.
      8400 171st St, Tinley Park, IL
      View Details
    • $419,900
      4,083 SF

      Freestanding Retail Building in Tinley Park

      Well-maintained 4,083 SF building on 12,253 SF lot.
      17702 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      5,795 SF

      Restaurant Building on High-Traffic Corner

      5,795 SF restaurant on 1.9 acres near I-80.
      7200 W 191st St, Tinley Park, IL
      View Details
    • Contact for pricing
      90,643 SF

      Multi-Use Flex Building Opportunity

      90,000+ SF flex building on 7.42 acres available for sale.
      8101 W 183rd Street, Tinley Park, IL, 60487
      View Details
    • $264,000

      Updated Condo in 55+ Building

      Move-in ready, updated 2-bedroom, 2-bath condo in Tinley Park.
      6320 Pine Ridge Drive #1B, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      26,173 SF

      Industrial Property in Tinley Park

      Industrial property available for sale in Tinley Park, Illinois.
      18531 Spring Creek Drive, Tinley Park, IL 60477
      View Details
    • $3,400,000
      2,270 SF

      Retail Space on Heavily Traveled Road

      Retail space available on a heavily traveled road.
      7101-7125 183rd St, Tinley Park, IL
      View Details
    • Contact for pricing
      5,004 SF

      Tinley Park Commercial Building For Sale

      5,004 SF building near Metra station on 1.21 acres.
      17865 S 80th Ave, Tinley Park, IL 60477
      View Details

    FAQs

    What type of property is this?
    Apartment building - Two-bedroom condo with garage, in-unit laundry, and updated features.
    Where is this apartment building located?
    The property is located at 17960 Royal Oak Court #1N Tinley Park, IL.
    What is the asking price?
    The asking price for this property is $227,000.
    What are key features of this property?
    This property features: First floor unit with 1‑car garage plus assigned space.; Low property taxes and low monthly HOA fee.; Hardwood flooring throughout living areas and bedrooms.
    (214) 438-6118
    We can help!
    Listing Contact
    Mark Vaccaro
    Mark Vaccaro
    Real Estate License ID: 577382
    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
    17960 Royal Oak Court #1N, Tinley Park, IL 60477,
    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!