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    525 Chicago Ave East Chicago, IN 46312
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    525 Chicago Ave East Chicago, IN 46312

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    • Office properties & Spaces
    • 2,400 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 219 Health Network / Medical Group
    • Amira Mohammed / Physician

    Property Details for 525 Chicago Ave

    Year built
    1940
    Property size
    2,400 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 2,400 square foot office building, located at 525-527 W Chicago Avenue in East Chicago, Indiana, presents a fantastic opportunity for businesses seeking immediate occupancy. Built in 1940, this single-story building is situated on a high-traffic section of Chicago Avenue, ensuring excellent visibility and accessibility. The property is currently available for lease and offers versatile space suitable for a variety of uses, including medical and traditional office settings. The building is move-in ready, having undergone updates. While this listing focuses on the 2,400 square foot building at 525-527 W Chicago Avenue, it's important to note that two additional smaller buildings, each approximately 963 square feet, are also available for lease. These adjacent properties offer a combined total of nearly 4,000 square feet of space, providing flexibility for businesses requiring larger footprints. The property is located in Lake County, Indiana, with a zip code of 46312. For those interested in a hair salon or barbershop, the landlord is offering all necessary equipment, including styling chairs and shampoo bowls, making it an ideal turnkey operation. This is a rare opportunity to secure prime commercial space in a desirable location with immediate availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    East Chicago
    County
    Lake
    State
    Indiana
    Longitude
    -87.4774
    Latitude
    41.6291

    Comparable in this City

    • Value Estimation by Request
      963 SF

      529 Chicago Ave

      Medical Office Space • 963 SF
      529 Chicago Ave, East Chicago, IN 46312
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    • Value Estimation by Request
      1,100 SF

      3847 Euclid Ave

      MEDICAL BUILDING • 1,100 SF
      3847 Euclid Ave, East Chicago, IN 46312-2332
      View Details
    • Value Estimation
      $10,425,000
      791,664 SF

      4321 Fir St

      MEDICAL BUILDING • 791,664 SF
      4321 Fir St, East Chicago, IN 46312-3049
      View Details
    • Value Estimation by Request
      3,570 SF

      3726 Main St

      MEDICAL BUILDING • 3,570 SF
      3726 Main St, East Chicago, IN 46312-2224
      View Details
    • Value Estimation by Request
      2,801 SF

      1820 Columbus Dr

      MEDICAL BUILDING • 2,801 SF
      1820 Columbus Dr, East Chicago, IN 46312-2826
      View Details
    • Value Estimation
      $535,000
      11,976 SF

      1313 Chicago Ave

      MEDICAL BUILDING • 11,976 SF
      1313 Chicago Ave, East Chicago, IN 46312-3316
      View Details

    Similar Nearby for Sale

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      East Chicago Commercial Opportunity

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    Similar Nearby for Lease

    • $2,000 /Mo
      1,100 SF

      East Chicago Retail/Office Space

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      East Chicago Retail Space For Lease

      Prime Retail Building, High Visibility
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      East Chicago Commercial Space Available

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    • $14 SF/Yr

      Renovated Retail Space on Corner

      Newly renovated retail space in high-visibility Harbor neighborhood location.
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      Secured Industrial Land for Lease

      Paved, fenced, and gated industrial land available for lease.
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      Industrial Buildings Near Major Highways

      Three industrial buildings totaling 57,752 SF on 7.7 acres.
      5137 Indianapolis Blvd, East Chicago, IN 46312
      View Details
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    525 Chicago Ave
    East Chicago, IN 46312
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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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