Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4628 Diversey Ave Chicago, IL 60639
    Property profile & analytics

    4628 Diversey Ave Chicago, IL 60639

    View on Map
    • Retail properties & Spaces
    • 300,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 4628 Diversey Ave

    Year built
    1991
    Property size
    300,000 SF
    Property type
    Retail properties & Spaces

    Description

    The Hall Plaza, a single-story, 300,000 square foot Class B retail center in Chicago's Kelvyn Park neighborhood (Cook County, IL), offers 5 available spaces ranging from 1,300 to 3,800 square feet. Built in 1991 and renovated in 2020, this property sits on a 16-acre lot at 4628 W Diversey Ave, zip code 60639. The center features 60 total suites and currently has 15,000 square feet of vacant space. Conveniently located near CTA bus route #76 and boasting two lighted intersections for easy access, The Hall Plaza benefits from high visibility and accessibility. The property is anchored by a Walmart and serves a densely populated area, with 511,729 residents within a 3-mile radius. The zoning is designated for retail use. No elevators are present.

    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
    -87.7431
    Latitude
    41.9339

    Comparable in this City

    • Value Estimation by Request

      5170 North Ave

      Retail properties & Spaces
      5170 North Ave, Chicago, IL 60639
      View Details
    • Value Estimation by Request
      18,750 SF

      5544 North Ave

      Individual retail properties • 18,750 SF
      5544 North Ave, Chicago, IL 60639
      View Details
    • Value Estimation by Request
      16,000 SF

      5555 North Ave

      Individual retail properties • 16,000 SF
      5555 North Ave, Chicago, IL 60639
      View Details
    • Value Estimation by Request
      10,559 SF

      4300 North Ave

      Retail properties & Spaces • 10,559 SF
      4300 North Ave, Chicago, IL 60639
      View Details
    • Value Estimation by Request
      0.32 Acres

      4045 Diversey Ave

      Individual retail properties • 0.32 Acres
      4045 Diversey Ave, Chicago, IL 60639
      View Details
    • Value Estimation by Request

      5529 North Ave

      Individual retail properties
      5529 North Ave, Chicago, IL 60639
      View Details

    Similar Nearby for Sale

    • $449,000

      Mixed-Use Building in Austin Neighborhood

      Mixed-use building in Chicago's Austin neighborhood with high visibility.
      4940 W North Ave, Chicago, IL 60639
      View Details
    • $1,249,500
      6,000 SF

      Established Banquet Hall with Apartments

      Banquet hall with apartments for additional income in Chicago.
      6155 W Fullerton Ave, Chicago, IL 60639
      View Details
    • $495,000
      6,250 SF

      Versatile Chicago Industrial/Flex Space

      Divisible 6,250 SF building with 16' ceilings and woodshop.
      5245 W Diversey Ave, Chicago, IL 60639
      View Details
    • $750,000
      8,150 SF

      Grand Avenue Commercial Automotive Property

      Solid brick building on Grand Avenue, ideal for automotive businesses.
      5717 W Grand Ave, Chicago, IL 60639
      View Details
    • Contact for pricing
      5,500 SF

      Mixed-Use Property in Belmont Cragin

      Two-story mixed-use property with commercial and residential potential.
      5037-39 W Diversey Ave, Chicago, IL 60639
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space on Fullerton Avenue

      Retail or office space with high visibility and basement option.
      5436 Fullerton Ave, Chicago, IL 60639
      View Details
    • Contact for pricing
      8,300 SF

      Retail Space in Dense Neighborhood

      Retail opportunity in a high-density Chicago neighborhood.
      4722 W Fullerton Ave, Chicago, IL 60639
      View Details
    • $16 SF/Yr
      1,900 SF

      Retail Space on Grand Avenue

      Retail space available in Grand Plaza with high visibility.
      4435 W Grand Ave, Chicago, IL 60639
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in Belmont Cragin

      Retail opportunity in high-density middle-class neighborhood anchored by national tenants.
      2620 N Narragansett Ave, Chicago, IL 60639
      View Details
    • Contact for pricing
      4,525 SF

      Retail Space in Belmont Cragin

      Retail space available in high-density Chicago neighborhood.
      6451 N Natchez Ave, Chicago, IL 60639
      View Details
    • Contact for pricing

      Renovated Flex Space in Humboldt Park

      60,000 SF renovated industrial/showroom/office/flex building with flexible spaces.
      1657 N Kostner Ave, Chicago, IL 60639
      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.
    4628 Diversey Ave
    Chicago, IL 60639
    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
    4628 Diversey Ave, Chicago, IL, 60639
    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!