Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Raynor Ave Crest Hill, IL 60403

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 1601 Raynor Ave

    Year built
    1970
    Property type
    Retail properties

    Description

    This 350-square-foot retail sublease space is located within the established Estilo's Hair Salon at 1601 N Raynor Ave, Crest Hill, IL 60403. The space includes a 13' x 15' private room and a 14' x 11' open room, plus access to shared common areas such as a waiting area, restroom, break area, shampoo station, and washer/dryer. All utilities are included in the $550 monthly rent. The property is situated at the Northwest corner of Theodore Street and Raynor Avenue, a highly visible, lighted corner location with over 23,000 vehicles passing daily. The building is zoned B-2 and was built in 1970. This prime location benefits from strong demographics, with a 12-minute drive-time population of 133,902 and an average household income of $73,743. The property is part of a vibrant retail center, sharing space with My Waffle Restaurant, Pizza by Marchelloni, Mattress by Appointment, and a barbershop. This sublease presents a unique opportunity for a complementary business to thrive in a high-traffic area with excellent visibility. The property is classified as Class C and is a single-tenant space within a larger building. Will County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Crest Hill
    County
    Will
    State
    Illinois
    Longitude
    -88.1021
    Latitude
    41.5523

    Comparable in this City

    • Value Estimation by Request
      17,451 SF

      20635 Renwick Rd

      Retail properties • 17,451 SF
      20635 Renwick Rd, Crest Hill, IL 60403
      View Details
    • Value Estimation by Request
      6,054 SF

      2501-2509 Plainfield Rd

      Retail properties • 6,054 SF
      2501-2509 Plainfield Rd, Crest Hill, IL 60403
      View Details
    • Value Estimation by Request

      Division St

      Land
      0 Division St, Crest Hill, IL 60403
      View Details
    • Value Estimation by Request
      0.21 Acres

      Plainfield Rd

      VACANT COMMERCIAL LAND • 0.21 Acres
      Plainfield Rd, Crest Hill, IL 60403
      View Details
    • Value Estimation by Request
      0.18 Acres

      Plainfield Rd

      COMMERCIAL (GENERAL) • 0.18 Acres
      Plainfield Rd, Crest Hill, IL 60403
      View Details
    • Value Estimation by Request
      0.18 Acres

      Plainfield Rd

      VACANT COMMERCIAL LAND • 0.18 Acres
      Plainfield Rd, Crest Hill, IL 60403
      View Details

    Similar Nearby for Sale

    • $1,300,000
      22,000 SF

      Crest Hill Lanes: Bowling Alley Investment

      Turn-key bowling alley, restaurant, bar; high traffic location.
      905 Theodore St, Crest Hill, IL 60403
      View Details
    • $1,170,000
      0.92 Acres

      Shell Gas Station For Sale

      Operating gas station with real estate, business, and licenses.
      2350 Plainfield Rd, Crest Hill, IL 60403
      View Details
    • $300,000
      0.15 Acres

      Crest Hill Bar/Restaurant Business

      Thriving bar and restaurant business for sale in Crest Hill.
      1723 N Center St, Crest Hill, IL 60403
      View Details
    • $695,000

      Prime Crest Hill Commercial Land

      1.4-acre corner lot, ideal for business.
      0 Division St, Crest Hill, IL 60403
      View Details
    • $1,200,000

      Prime Romeoville Commercial Land

      High-traffic corner lot, ideal for development.
      0 Nec Renwick And Weber Rd, Lockport, IL 60403
      View Details
    • Contact for pricing
      1,373 SF

      Spacious Townhome in Country Squire

      Two-story townhome with three bedrooms, fenced yard, and attached garage.
      2505 Lotus Ln, Crest Hill, IL 60403
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      22,000 SF

      Crest Hill Lanes Bowling Alley

      Turn-key bowling alley, restaurant, bar
      905 Theodore St, Crest Hill, IL 60403
      View Details
    • $16 SF/Yr
      8,050 SF

      Caton Crest Commons Retail Space

      Crest Hill Retail Strip Center - 8,050 SF Available
      2400 Caton Farm Rd, Crest Hill, IL 60403
      View Details
    • $18 SF/Yr
      3,400 SF

      Crest Hill Retail Space Available

      3,400 sq ft Restaurant/Retail Space
      2357 Plainfield Rd, Crest Hill, IL 60403
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space in Busy Center

      Retail suites available in a high-traffic Crest Hill center.
      20631-20653 Renwick Rd, Crest Hill, IL 60403
      View Details
    • Contact for pricing
      4,823 SF

      Retail Building on Weber Road

      Single-story retail building with drive-thru and ample parking.
      16051 Weber Rd, Crest Hill, IL 60403
      View Details
    • Contact for pricing
      13,068 SF

      Crest Hill Commercial Space

      Spacious, heated/cooled flex space with new upgrades in Crest Hill.
      103 Elsie Ave, Crest Hill, IL 60403
      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.
    1601 Raynor Ave
    Crest Hill, IL 60403
    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.