Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    41116 Il Rte 83 Antioch, IL 60002-1905

    • Office buildings
    • 7,620 SF
    • 0.55 lot acres
    OFF-MARKET
    Last Sale
    May 07, 2025
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2435506
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 41116 Il Rte 83

    Year built
    1987
    Construction
    FRAME
    Lot size
    0.55 lot acres
    Property size
    7,620 SF
    Property type
    Office buildings
    APN
    02-17-306-026
    APU
    217306026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $442,000
      Market price range: $386k - $836k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Antioch
    County
    Lake
    State
    Illinois
    Longitude
    -88.0925
    Latitude
    42.4608
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,054
    $57,484
    $67,944
    $125,428
    -
    $172,469
    $203,852
    $376,321

    Comparable in this City

    • Value Estimation
      $395,000
      10,384 SF

      543 Orch St

      OFFICE BUILDING • 10,384 SF
      543 Orch St, Antioch, IL 60002-3107
      View Details
    • Value Estimation
      $295,000
      1,672 SF

      25220 Il Rte 173

      OFFICE BUILDING • 1,672 SF
      25220 Il Rte 173, Antioch, IL 60002-8350
      View Details
    • Value Estimation
      $810,000
      8,304 SF

      1326 Main St

      OFFICE BUILDING • 8,304 SF
      1326 Main St, Antioch, IL 60002-2181
      View Details
    • Value Estimation
      $530,000
      10,560 SF

      25451 Old Grass Lk Rd

      OFFICE BUILDING • 10,560 SF
      25451 Old Grass Lk Rd, Antioch, IL 60002-7934
      View Details
    • Value Estimation
      $440,000
      9,374 SF

      935 Skidmore Dr

      OFFICE BUILDING • 9,374 SF
      935 Skidmore Dr, Antioch, IL 60002-1547
      View Details
    • Value Estimation
      $470,000
      13,647 SF

      41412 Il Rte 83

      OFFICE BUILDING • 13,647 SF
      41412 Il Rte 83, Antioch, IL 60002-1907
      View Details

    Similar Nearby for Sale

    • $949,000
      13,647 SF

      Three-Story Office Building For Sale

      Three-story office building with existing cash flow and drive-through lanes.
      41412 N Il Route 83, Antioch, IL 60002
      View Details
    • $950,000
      1.03 Acres

      Antioch Commercial Property For Sale

      Commercial property in Antioch, Illinois, with income from existing tenants.
      41412 N Il Route 83, Antioch, IL 60002
      View Details
    • $950,000
      13,500 SF

      Antioch Office Building - Prime Location

      High-Visibility Office Building with Drive-Thru
      41412 Il Route 83, Antioch, IL 60002
      View Details
    • $2,850,000
      7,026 SF

      Antioch Retail Center Investment

      High-yield, 2-tenant retail center
      515 Il-173, Antioch, IL 60002
      View Details
    • $1,050,000
      10.00 Acres

      Prime Antioch Commercial Land

      10 Acres, High Visibility, R-3 Zoning
      40186 Illinois Rte 59, Antioch, IL 60002
      View Details
    • Contact for pricing
      0.15 Acres

      Residential Land Near Bluff Lake

      Residential land in Antioch, near Chain 'O Lakes.
      40540 N Minena St, Antioch, IL 60002
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Building in Chain-O-Lakes Heart

      Commercial building with potential for various uses in Antioch, IL.
      25867 W Grass Lake Rd, Antioch, IL 60002
      View Details
    • $9 SF/Yr
      2,150 SF

      Prime Antioch Office Space

      2,150 SF Office, Great Location
      426 Orchard St, Antioch, IL 60002
      View Details
    • Contact for pricing
      57,935 SF

      Modern Retail/Office Complex in Antioch

      Modern retail/office complex near the Commuter Train Station Depot.
      311 Depot St, Antioch, IL 60002
      View Details
    • Contact for pricing

      Retail Space in Antioch, IL

      Retail spaces available in high-traffic Antioch shopping corridor.
      636 Il -173 Rd, Antioch, IL 60002
      View Details
    • Contact for pricing

      Commercial Space in Antioch, IL

      1000 sq ft commercial space for contractors in Antioch.
      25433 W Il Route 173, Antioch, IL 60002
      View Details
    • Contact for pricing
      39,825 SF

      Antioch Industrial Building Available

      39,825 SF industrial building with office space for lease.
      905 Anita Ave, Antioch, IL 60002
      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.
    41116 Il Rte 83
    Antioch, IL 60002-1905
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.