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    4610 Kedzie Ave Chicago, IL 60632
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    4610 Kedzie Ave, Chicago, IL 60632

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    • Retail properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fruityland Ice Cream / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 4610 Kedzie Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 3,800-square-foot retail space is ideally situated on the corner of Kedzie Avenue and 47th Street in Chicago, Illinois, zip code 60632. The property boasts a prime location within a high-traffic business corridor, surrounded by a dense residential neighborhood ensuring a consistent flow of potential customers. This single-story building offers excellent visibility thanks to a large, prominent pylon sign. Ample parking is available in the adjacent lot, providing convenient access for both customers and employees. The property's strategic location places it directly at a CTA bus stop and just one block from the CTA Orange Line, maximizing accessibility for a wide range of clientele. This multi-tenant building offers a fantastic opportunity for businesses seeking high visibility and convenient access. The property shares its immediate intersection with established businesses such as Pete's Fresh Market and Dunkin', further enhancing its desirability and attracting a steady stream of foot traffic. Annual property taxes are $8 per square foot. This is a rare opportunity to secure a prominent retail space in a thriving Chicago neighborhood. Contact us today to schedule a showing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7044
    Latitude
    41.8096

    Comparable in this City

    • Value Estimation by Request
      6,000 SF

      4017 Ogden Ave

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      4017 Ogden Ave, Chicago, IL 60632
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    • Value Estimation by Request
      1,035 SF

      3943 47th St

      STORE, RETAIL OUTLET
      3943 47th St, Chicago, IL 60632-4145
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    • Value Estimation
      $710,000
      4,500 SF

      4633 California Ave, Unit 43

      STORE, RETAIL OUTLET
      4633 California Ave, Chicago, IL 60632-1908
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    • Value Estimation
      $1,760,000
      20,100 SF

      4201 Archer Ave

      STORE, RETAIL OUTLET
      4201 Archer Ave, Chicago, IL 60632-2568
      View Details
    • Value Estimation
      $740,000
      4,900 SF

      4469 Archer Ave

      STORE, RETAIL OUTLET
      4469 Archer Ave, Chicago, IL 60632
      View Details
    • Value Estimation by Request
      6,700 SF

      5314 Kedzie Ave

      STORE, RETAIL OUTLET
      5314 Kedzie Ave, Chicago, IL 60632-2618
      View Details

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    4610 Kedzie Ave
    Chicago, IL 60632
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    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
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