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
    Property profile & analytics

    2117 Ctr Ave Northbrook, IL 60062-4516

    • Parking lots & garages
    • 875 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2792430
    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

    • Parking lots & garages

    Property Details for 2117 Ctr Ave

    Year built
    1952
    Lot size
    0.21 lot acres
    Property size
    875 SF
    Property type
    Parking lots & garages
    APN
    04-09-408-007
    APU
    409408007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $331,000
      Market price range: $59.1k - $332k
      AI Estimate
      $240,000
      Market price range: $50.3k - $240k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $210,000
      Current use
      COMMERCIAL (GENERAL)
      $375,000
      Change: +80% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $190,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Northbrook
    County
    Cook
    State
    Illinois
    Longitude
    -87.8325
    Latitude
    42.1282
    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
    2022
    $3,306
    $14,520
    $400
    $14,920
    -
    $145,200
    $4,000
    $149,200

    Comparable in this City

    • Value Estimation
      $290,000
      1.01 Acres

      3050 Pheasant Crk Drp53

      RESIDENTIAL PARKING GARAGE • 1.01 Acres
      3050 Pheasant Crk Drp53, Northbrook, IL 60062-3370
      View Details
    • Value Estimation
      $290,000
      1.01 Acres

      3070 Pheasant Crk Drp9

      RESIDENTIAL PARKING GARAGE • 1.01 Acres
      3070 Pheasant Crk Drp9, Northbrook, IL 60062-3361
      View Details
    • Value Estimation
      $285,000
      1.01 Acres

      3050 Pheasant Crk Drp73

      RESIDENTIAL PARKING GARAGE • 1.01 Acres
      3050 Pheasant Crk Drp73, Northbrook, IL 60062-3370
      View Details
    • Value Estimation
      $290,000
      1.01 Acres

      3070 Pheasant Crk Drp7

      RESIDENTIAL PARKING GARAGE • 1.01 Acres
      3070 Pheasant Crk Drp7, Northbrook, IL 60062-3361
      View Details
    • Value Estimation
      $280,000
      1.01 Acres

      3070 Pheasant Crk Drp20

      RESIDENTIAL PARKING GARAGE • 1.01 Acres
      3070 Pheasant Crk Drp20, Northbrook, IL 60062-3361
      View Details
    • Value Estimation
      $300,000
      1.01 Acres

      3070 Pheasant Crk Drp24

      RESIDENTIAL PARKING GARAGE • 1.01 Acres
      3070 Pheasant Crk Drp24, Northbrook, IL 60062-3361
      View Details

    Similar Nearby for Sale

    • $350,000
      0.69 Acres

      Northbrook Car Wash Business Opportunity

      Established car wash business with multiple revenue streams in Northbrook.
      204 Skokie Blvd, Northbrook, IL 60062
      View Details
    • $2,950,000
      16,659 SF

      Northbrook Medical Office Building

      Downtown Northbrook, High NOI, 8.01% Cap Rate
      1220 Mdw Rd, Northbrook, IL 60062
      View Details
    • $195,000

      Turnkey Restaurant Business Opportunity

      Established Northbrook restaurant with banquet halls and fully equipped kitchen.
      500 Anthony Trl, Northbrook, IL 60062
      View Details
    • $150,000

      Established Korean Restaurant in Northbrook

      Thriving Korean restaurant in Northbrook's dining district for sale.
      3534 N Milwaukee Ave, Northbrook, IL 60062
      View Details
    • $995,000
      5,295 SF

      Northbrook Office Condo: Prime Location

      High-end single-story office condo, ideal owner-user.
      450 Skokie Blvd, Northbrook, IL 60062
      View Details
    • New
      $1,250,000

      Northbrook Multifamily Investment Opportunity

      Fully occupied 6-unit building with amenities in Northbrook, Illinois.
      3456 Salem Walk, Northbrook, IL 60062
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      403,679 SF

      Willow Festival Retail Center

      Northbrook, IL: Prime Retail Space Available
      840 Willow Rd, Northbrook, IL 60062
      View Details
    • Contact for pricing
      39,379 SF

      Dunbrook Shopping Center Retail Space

      Northbrook retail center: prime location, multiple suites.
      2720-2780 Dundee Rd, Northbrook, IL 60062
      View Details
    • $12 SF/Yr
      118,000 SF

      Northbrook Meadows Retail Space

      Prime North Shore retail, office, & land.
      1901 Cherry Ln, Northbrook, IL 60062
      View Details
    • $10 SF/Yr
      21,744 SF

      Northbrook Industrial Building with Showroom

      21,744 SF building with 10,000 SF showroom for rent.
      333 Anthony Trl, Northbrook, IL 60062
      View Details
    • Contact for pricing
      89,211 SF

      Northbrook Retail Anchor Opportunity

      89,211 SF retail space with high visibility and traffic.
      2323 Capital Dr, Northbrook, IL 60062
      View Details
    • Contact for pricing
      1,830 SF

      Northbrook Retail Space Available

      High-traffic strip center, 1,830 sq ft.
      3750 Willow Rd, Northbrook, IL 60062
      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.
    2117 Ctr Ave
    Northbrook, IL 60062-4516
    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.