Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    7408 W 111Th St, Unit 309 Worth, IL 60482

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $149,900

    Updated 3rd-floor condo with fireplace, balcony, and modern kitchen.

    Property size:
    950 SF

    Property Features for 7408 W 111Th St

    General Information

    Size
    950 SF

    Building Details

    Year built
    1961

    We can help!

    Listing Contact
    Mohammad Abdelrasoul
    Source: Kw

    Listing Agent: Mohammad Abdelrasoul

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

    Learn more

    Property Insight Report

    Overview

    Updated Condo with Balcony

    This updated 3rd-floor condo features a living space with a fireplace and a private balcony. The kitchen includes countertops, stainless steel appliances, and cabinet space. The property includes access to a clubhouse and pool, as well as an assigned parking space. Coin laundry is available on site. Note that while the current owner was allowed to have in-unit laundry for health reasons, new owners will not be able to maintain an in-unit washer and dryer per the HOA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    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
    Worth
    County
    Cook
    State
    Illinois
    Longitude
    -87.8027114
    Latitude
    41.6904029

    Nearby Similar for Sale

    • $400,000
      0.17 Acres

      Versatile Commercial Building with Apartment

      5,000 sq ft commercial building with bonus apartment.
      6401 W 107Th St, Worth, IL 60482
      View Details
    • $219,900
      1,000 SF

      Move-In Ready Condo with Modern Amenities

      Rare 2-bedroom, 2-bath condo with updated kitchen and attached garage.
      10832 S 76Th Ave, Worth, IL 60482
      View Details
    • $6,231,482
      16,000 SF

      CVS NNN Lease Opportunity

      CVS property with absolute NNN lease and 14 years remaining.
      6748 W 111Th St, Worth, IL 60482
      View Details
    • $112,000

      Move-In Ready Condo in Worth

      One-bedroom condo in Worth, ideal for investment or owner-occupancy.
      10931 S Lloyd Dr, Worth, IL 60482
      View Details
    • $1,250,000
      17,100 SF

      Fully Occupied Retail Investment Property

      Retail property with long-term tenants and high traffic volume.
      7017 W 111Th St, Worth, IL 60482
      View Details
    • $625,000
      2,562 SF

      Mixed-Use Property on Harlem Avenue

      Mixed-use property with high visibility and income potential.
      11415 S Harlem Ave, Worth, IL 60482
      View Details
    • $1,410,000

      Worth, IL Multi-Family Investment

      10-Unit Apartment Building, High ROI
      6852-6854 111Th Pl, Worth, IL 60482
      View Details
    • $735,999
      5,100 SF

      Worth Retail Building - High Visibility

      Prime Retail Space, Huge Potential, Live/Work Option
      11359 Harlem Ave, Worth, IL 60482
      View Details
    • $1,897,500
      8,625 SF

      Worth Retail Space: High Traffic Area

      Prime Worth location, large retail space, high traffic count.
      6601 111Th St, Worth, IL 60482
      View Details
    • $2,789,294
      7,381 SF

      Chicago Cannabis Dispensary Investment

      High-yield NNN lease, prime location.
      11425 Harlem Ave, Worth, IL 60482
      View Details

    FAQs

    What type of property is this?
    Apartment building - Updated 3rd-floor condo with fireplace, balcony, and modern kitchen.
    Where is this apartment building located?
    The property is located at 7408 W 111Th St, Unit 309 Worth, IL.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: - Updated 3rd-floor condo with **modern kitchen featuring brand-new countertops and stainless steel appliances.**; - Access to clubhouse and pool.; - **Private balcony with peaceful views.**
    Request Owner's contact information
    7408 W 111Th St, Unit 309 Worth, IL 60482
    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.
    7408 W 111Th St, Unit 309
    Worth, IL 60482
    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
    7408 W 111Th St, Unit 309 Worth, IL 60482
    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

    We can help!
    Listing Contact
    Mohammad Abdelrasoul
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.