Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2561 Clinton St River Grove, IL 60171
    Property profile & analytics

    2561 Clinton St River Grove, IL 60171

    View on Map
    • Specialty properties
    • 27,019 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • St Francis Sisters-River Grove / Church / Mosque

    Property Details for 2561 Clinton St

    Year built
    1955
    Property size
    27,019 SF
    Property type
    Specialty properties
    Property subtype
    Schools

    Description

    This exceptional special-purpose property, located at 2561 Clinton St, River Grove, IL 60171, presents a unique investment opportunity. The 27,019 square foot building, constructed in 1955, sits on a substantial 42,500 square foot lot – approximately 8.5 lots in this neighborhood. The main building features ten classrooms and offices on the first floor, while the second floor comprises a convent section including a cafeteria. The property boasts a manicured landscaped yard, easily adaptable into a playground. A detached brick garage, situated on the southern portion of the property, has been repurposed into a recreational gym or event space. This versatile property, zoned R1, offers significant potential for various uses, including a chartered school or daycare center. The asking price is $1,300,000. The property's location in River Grove, Cook County, Illinois, provides convenient access to nearby Elmwood Park. This is a rare opportunity to acquire a substantial property with significant redevelopment potential in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    River Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.8306
    Latitude
    41.9267

    Comparable in this City

    • Value Estimation by Request
      0.36 Acres

      2140 Ww St

      AUTO REPAIR, GARAGE • 0.36 Acres
      2140 Ww St, River Grove, IL 60171-1904
      View Details
    • Value Estimation by Request
      0.17 Acres

      2635 Haymond St

      COMMERCIAL (GENERAL) • 0.17 Acres
      2635 Haymond St, River Grove, IL 60171
      View Details
    • Value Estimation by Request
      0.15 Acres

      2655 Erie St

      INDUSTRIAL (GENERAL) • 0.15 Acres
      2655 Erie St, River Grove, IL 60171-1505
      View Details
    • Value Estimation by Request
      0.14 Acres

      8166 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.14 Acres
      8166 Grand Ave, River Grove, IL 60171-1521
      View Details
    • Value Estimation by Request
      0.07 Acres

      8901 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      8901 Grand Ave, River Grove, IL 60171-1322
      View Details
    • Value Estimation by Request
      0.35 Acres

      2434 Thatcher Ave

      AUTO REPAIR, GARAGE • 0.35 Acres
      2434 Thatcher Ave, River Grove, IL 60171-1756
      View Details

    Similar Nearby for Sale

    • $419,000
      0.07 Acres

      Commercial Property with Established Business

      Live and work in this River Grove commercial property.
      9011 Grand Ave, River Grove, IL 60171
      View Details
    • $1,500,000
      3,550 SF

      River Grove Retail Building For Sale

      3,550 SF freestanding building on a 16,000 SF lot.
      8801 Grand Ave, River Grove, IL 60171
      View Details
    • $399,500
      3,200 SF

      Veterinary Building on Grand Avenue

      3200 SF veterinary building for sale on busy Grand Avenue.
      8035 Grand Ave, River Grove, IL 60171
      View Details
    • $349,000
      3,700 SF

      Industrial Building with Refrigeration

      3,700 SF industrial building featuring freezers and coolers.
      8256 Grand Ave, River Grove, IL 60171
      View Details
    • New
      $799,000
      0.14 Acres

      Grand Avenue Assemblage Opportunity

      Prime commercial portfolio in River Grove with redevelopment potential.
      8044 Grand Ave, River Grove, IL 60171
      View Details
    • $2,650,000
      14,500 SF

      Truck Terminal with Maintenance Pit

      14,500 SF truck terminal with maintenance pit and office.
      2314 North River Rd, River Grove, IL 60171
      View Details
    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.
    2561 Clinton St
    River Grove, IL 60171
    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
    2561 Clinton St, River Grove, IL, 60171
    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!