Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7234 W N Ave Elmwood Park, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3,300 SF office condo with excellent visibility.

    Type:OFFICE
    Property size:
    1,100 SF
    Lot size:
    0.54 Acres
    Added:
    Jul 30, 2025
    Days on Market:
    247
    Last Refresh:
    Mar 29 at 8:14 pm

    Property Features for 7234 W N Ave

    General Information

    Standard status
    Active
    Size
    1,100 SF
    Lot size
    0.54 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Susan B. Silver

    Listing agent Susan B. Silver License #475136992

    Listing office Millennium Properties Real Estate

    Listing date Jul 30, 2025

    Source Moodyscre

    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 Millennium Properties Real Estate

    Overview

    Elmwood Park Office Condo

    This is a 3,300 square foot office condo located on the ground floor of Cameo Towers, a 19-story office and residential condominium. The condo is currently subdivided into two units. Unit 105 comprises 2,200 square feet and is leased. Unit 108 offers 1,100 square feet and is currently available. The property includes three deeded garage parking spaces. H&R Block has a three-year lease with a scheduled annual rent of $43,400. The property benefits from excellent visibility with exterior signage and is situated in close proximity to the Meacham Road interchange and I-90 Expressway. The location experiences a traffic count of 34,677 vehicles daily.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmwood Park
    County
    Cook
    State
    Illinois
    Longitude
    -95.903872
    Latitude
    36.0686745

    Nearby Similar for Sale

    • $664,900

      Elmwood Park Two-Unit Bungalow

      Two-unit brick bungalow on three lots with three garages.
      2924 N 75th Court, Elmwood Park, IL 60707
      View Details
    • $475,000

      Elmwood Park Multi-Family Property

      Multi-family property for sale in Elmwood Park, Illinois.
      2649 N 74th Avenue, Elmwood Park, IL 60707
      View Details
    • $485,000

      Elmwood Park Turnkey Investment Opportunity

      Well-maintained 2-unit building, fully rented, producing strong income.
      2130 N 73rd Avenue, Elmwood Park, IL 60707
      View Details
    • $734,900

      Updated Elmwood Park Legal Triplex

      Updated triplex with expansion potential in Elmwood Park, Illinois.
      2529 N 75th Court, Elmwood Park, IL 60707
      View Details
    • $760,000
      8,500 SF

      Elmwood Park Mixed-Use Investment

      Two-building package with retail and mixed-use in Elmwood Park.
      7504-06 West Grand Avenue, Elmwood Park, IL 60707
      View Details
    • $499,900

      Spacious Duplex with Two-Car Garage

      Two large apartments with dens, garage, and parking pad.
      2649 N 74th Avenue, Elmwood Park, IL 60707
      View Details
    • $7,377,000
      20,291 SF

      Elmwood Park Investment Opportunity

      Two-tenant investment property in Elmwood Park, Illinois for sale.
      1850 N Harlem Ave, Elmwood Park, IL
      View Details
    • $315,000
      3,300 SF

      Elmwood Park Office Condominium

      3,300 SF office condo in Elmwood Park for sale.
      7234 W North Ave, Elmwood Park, IL 60707
      View Details

    FAQs

    What type of property is this?
    Office units - 3,300 SF office condo with excellent visibility.
    Where is this office units located?
    The property is located at 7234 W N Ave Elmwood Park, IL.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Ground floor office condo in Cameo Towers; Income‑producing property with leased unit (H&R Block, $43,400 annually); Sub‑divided into two units, offering flexibility
    (312) 338-3000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Susan B. Silver
    Real Estate License ID: 475136992
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!