Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    87th Kedzie Ave Chicago, IL 60652
    Back to Search
    Property profile & analytics

    87th Kedzie Ave Chicago, IL 60652

    View on Map
    • Land
    • 30.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 87th Kedzie Ave

    Lot size
    30.00 lot acres
    Property type
    Land

    Description

    This exceptional 30-acre commercial land parcel presents a unique investment opportunity in the thriving Chicago metropolitan area. Situated at the northeast corner of 87th Street and Kedzie Avenue, bordering Evergreen Park, this property boasts a highly visible hard corner location with a lighted intersection, ensuring maximum exposure for any development. The site's strategic position benefits from exceptional access and visibility, with significant daily traffic volumes. Specifically, 25,985 vehicles pass daily along 87th Street, and 20,421 vehicles along Kedzie Avenue, providing substantial potential for attracting customers and maximizing business opportunities. This former Luther High School site offers a blank canvas for a wide range of commercial developments. The property is available for outright purchase, or alternatively, ground lease or build-to-suite options are also available, providing flexibility for potential investors and developers. The Cook County location, with a zip code of 60652, offers easy access to major transportation routes and amenities, further enhancing its appeal. This is a rare opportunity to acquire a large, strategically located commercial land parcel in a dynamic and growing market. Don't miss this chance to capitalize on the significant potential of this prime development site.

    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
    -87.7018
    Latitude
    41.7353

    Comparable in this City

    • Value Estimation by Request

      3101 87Th St

      Land
      3101 87Th St, Chicago, IL 60652
      View Details
    • Value Estimation by Request
      0.08 Acres

      3357 Columbus Ave

      COMMERCIAL (GENERAL) • 0.08 Acres
      3357 Columbus Ave, Chicago, IL 60652
      View Details
    • Value Estimation by Request
      0.06 Acres

      3273 Columbus Ave

      COMMERCIAL (GENERAL) • 0.06 Acres
      3273 Columbus Ave, Chicago, IL 60652
      View Details
    • Value Estimation by Request
      0.01 Acres

      3646 83rd Pl

      COMMERCIAL (GENERAL) • 0.01 Acres
      3646 83rd Pl, Chicago, IL 60652
      View Details
    • Value Estimation by Request
      0.07 Acres

      4708 79th St

      COMMERCIAL (GENERAL) • 0.07 Acres
      4708 79th St, Chicago, IL 60652
      View Details
    • Value Estimation by Request
      1,400 SF

      3280 Columbus Ave

      COMMERCIAL (GENERAL) • 1,400 SF
      3280 Columbus Ave, Chicago, IL 60652
      View Details

    Similar Nearby for Sale

    • $3,400,000

      Prime Land on Kedzie Avenue

      7.038 AC land parcel with high traffic volume.
      7600 S Kedzie Ave, Chicago, IL 60652
      View Details
    • $550,000
      1 SF

      Restaurant on Corner Lot

      Restaurant on 1.29 acres with frontage on Columbus & Kedzie.
      3200 West Columbus Ave, Chicago, IL 60652
      View Details
    • Contact for pricing

      Development Site on 87th & Kedzie

      Up to 30 acres at 87th & Kedzie available.
      87th S Kedzie Ave, Evergreen Park, IL 60652
      View Details
    • $199,000

      Full Vehicle Service Business

      Full vehicle service business for sale with affordable lease.
      3741 W Columbus Ave, Chicago, IL 60652
      View Details
    • $219,000
      0.09 Acres

      Mixed-Use Property Near St. Rita

      Mixed-use property with storefronts and apartment near high-traffic area.
      2451 W 79Th St, Chicago, IL 60652
      View Details
    • Contact for pricing

      Versatile Commercial Space in Chicago

      2,250 SF commercial property suitable for various business ventures.
      2449 W 79Th St, Chicago, IL 60652
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Chicago Distribution Facility with Expansion

      Last mile distribution warehouse with expansion potential near Midway Airport.
      4100 W 76Th St, Chicago, IL 60652
      View Details
    • $18 SF/Yr
      1,400 SF

      Retail Space in Ashburn Community

      Retail space in a thriving Chicago business district for rent.
      7828-7842 S Western Ave, Chicago, IL 60652
      View Details
    • Contact for pricing

      Retail Space on 87th Street

      High-visibility retail space in a thriving Chicago commercial corridor.
      2800 W 87Th St, Chicago, IL 60652
      View Details
    • $3,400 /Mo
      39,099 SF

      Pulaski Road Commercial Space Available

      Double storefront on busy Pulaski Rd, many possibilities!
      8337 S Pulaski Rd, Chicago, IL 60652
      View Details
    • Contact for pricing
      2,000 SF

      Retail and Medical Space Available

      Retail, medical, and dental space for rent in Chicago.
      8023-8071 W 79Th Pl, Chicago, IL 60652
      View Details
    • $25 SF/Yr

      Medical/Retail Space for Lease

      Hard corner location with ample parking and beautiful interior.
      8600 S Pulaski Rd, Chicago, IL 60652
      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.
    87th Kedzie Ave
    Chicago, IL 60652
    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
    87th Kedzie Ave, Chicago, IL, 60652
    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!