Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    4500-4700 Damen Ave Chicago, IL 60609

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4500-4700 Damen Ave Chicago, IL 60609

    View on Map
    • Lifestyle centers
    • 260,481 SF
    • 21.03 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 4500-4700 Damen Ave

    Year built
    1990
    Lot size
    21.03 lot acres
    Property size
    260,481 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Yards Plaza, located at 4500-4700 S. Damen Avenue in Chicago, Illinois, presents a significant investment opportunity. This 260,481-square-foot shopping center, built in 1990 and renovated in 2013, sits on a 21.03-acre lot and offers 1,235 parking spaces. The property boasts a strong tenant roster, anchored by Forman Mills with a remaining ten-year lease term. Additional tenants include Dollar Tree and Planet Fitness. However, there is a value-add opportunity with two vacant spaces available for lease. The center benefits from its location within a high-traffic area, exceeding 29,000 vehicles per day, and is easily accessible by public transportation. The property is situated in a densely populated area, with over 300,000 residents within a three-mile radius. The property's APN is 20-06-303-020-0000

    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
    -87.6761
    Latitude
    41.8111

    Comparable in this City

    • Value Estimation by Request
      8,241 SF

      246 51St St

      Lifestyle centers • 8,241 SF
      246 51St St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      55,775 SF

      1424 47Th St

      Neighborhood centers • 55,775 SF
      1424 47Th St, Chicago, IL 60609
      View Details
    • Value Estimation
      $11,515,000
      94,000 SF

      130 Garfield Blvd

      MINI-MALL • 94,000 SF
      130 Garfield Blvd, Chicago, IL 60609
      View Details
    • Value Estimation
      $500,000
      12.93 Acres

      4520 Damen Ave

      MINI-MALL • 12.93 Acres
      4520 Damen Ave, Chicago, IL 60609-3013
      View Details
    • Value Estimation
      $15,535,000
      131,100 SF

      4100 Ashland Ave

      MINI-MALL • 131,100 SF
      4100 Ashland Ave, Chicago, IL 60609-2330
      View Details
    • Value Estimation
      $11,215,000
      94,000 SF

      139 54th St

      MINI-MALL • 94,000 SF
      139 54th St, Chicago, IL 60609
      View Details

    Similar Nearby for Sale

    • $750,000
      0.17 Acres

      Restaurant and Bar Business Opportunity

      Turnkey restaurant and bar with liquor license for sale.
      1347 W 47Th St, Chicago, IL 60609
      View Details
    • $90,000
      1,200 SF

      Chicago Restaurant Investment Opportunity

      Profitable restaurant for sale in a high-traffic Chicago location.
      4755 S Ashland Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      12,901 SF

      Chicago Commercial Property For Sale

      Commercial property in Chicago's New City Community for sale.
      5257 S Ashland Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      21,916 SF

      Retail/Office Building Near Transportation

      21,916 SF retail/office building with long-term tenants.
      715 E 47Th St, Chicago, IL 60609
      View Details
    • $3,500,000
      0.29 Acres

      Chicago Mixed-Use Elevator Building

      Upscale mixed-use property with apartments and commercial units in Chicago.
      718 W 47Th St, Chicago, IL 60609
      View Details
    • $845,000
      0.07 Acres

      Mixed-Use Property in High Traffic Area

      Mixed-use property with commercial storefront and residential units.
      3635 S Halsted St, Chicago, IL 60609
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Spaces in Chicago Center

      Highly visible shopping center with diverse tenant mix.
      1424 W 47Th St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Convenient location with high visibility and accessibility.
      5401 S Wentworth Ave, Chicago, IL 60609
      View Details
    • Contact for pricing

      Renovated Retail Space in Chicago

      Move-in ready retail space in high-traffic Chicago location.
      5017 S Ashland Ave, Chicago, IL 60609
      View Details
    • $4,000 /Mo

      Retail/Flex Building in Bridgeport

      2,262 SF retail/flex building with expansion potential in Bridgeport.
      3566 S Halsted St, Chicago, IL 60609
      View Details
    • $4,000 /Mo

      Retail/Flex Building in Bridgeport

      2,262 SF retail/flex building with expansion potential.
      3566 S Halsted St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Versatile Commercial Space in Bronzeville

      Freestanding building with flexible space in a transforming neighborhood.
      5010 S State St, Chicago, IL 60609
      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.
    4500-4700 Damen Ave
    Chicago, IL 60609
    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

    4500-4700 Damen Ave, Chicago, IL, 60609

    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!