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    7723 78Th Ave Bridgeview, IL 60455
    Property profile & analytics

    7723 78Th Ave, Bridgeview, IL 60455

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    • Warehouses
    • 75,385 SF
    • 3.80 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 7723 78Th Ave

    Year built
    1977
    Lot size
    3.80 lot acres
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This single-tenant industrial warehouse, located at 7723 S 78th Avenue in Bridgeview, IL 60455, offers 75,385 square feet of space. The property sits on 3.8 acres and features a Class B building constructed in 1977. The warehouse boasts a single story with ceiling heights ranging from 21 to 26 feet. Access is convenient via 77th Avenue and S 78th Avenue. Loading is facilitated by six exterior loading docks and one drive-in door. Ample parking is available with 23 spaces provided. The property includes 1,395 square feet of office space. Utilities include 800 amps @ 277/480V power and LED lighting. The property is zoned I-2 and is situated in the South Cook submarket, I-55 North cluster. It benefits from proximity to major transportation arteries including I-294, I-55, Harlem Avenue, and Archer Avenue, as well as Midway International Airport (7 miles) and the Chicago Loop (16 miles). While the property has an inactive IHB rail spur, it offers significant advantages for distribution and warehousing operations. Property taxes are $2.82 per square foot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bridgeview
    County
    Cook
    State
    Illinois
    Longitude
    -87.812
    Latitude
    41.7514

    Comparable in this City

    • Value Estimation by Request
      93,555 SF

      7700 78Th Ave

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      7700 78Th Ave, Bridgeview, IL 60455
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    • Value Estimation by Request
      93,555 SF

      7700 78Th Ave

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    • Value Estimation by Request
      75,385 SF

      7723 78Th Ave

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    • Value Estimation by Request
      60,621 SF

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      60,621 SF

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    • Value Estimation
      $8,485,000
      4.20 Acres

      8200 Harlem Ave

      MINI-WAREHOUSE, STORAGE
      8200 Harlem Ave, Bridgeview, IL 60455-1617
      View Details

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      Freestanding Building with Office/Warehouse Space

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      Industrial Warehouse for Distribution

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      Bridgeview Industrial Facility with Rail

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      Bridgeview Industrial Facility with Rail

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      Heavy Power Distribution Warehouse

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      254,425 SF

      Bridgeview Warehouse Space Available

      254,425 SF warehouse space with ample parking.
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    Bridgeview, IL 60455
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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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