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    283 Gary Ave Carol Stream, IL 60188-2006

    • Retail space
    • 2,250 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Jul 22, 2025
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2536212
    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

    • Viking Kart Products / Machine Shop

    Property Details for 283 Gary Ave

    Year built
    1964
    Lot size
    0.24 lot acres
    Property size
    2,250 SF
    Zone code
    C
    Property type
    Retail space
    APN
    05-05-204-006
    APU
    505204006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $405,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Carol Stream
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1212
    Latitude
    41.8955
    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
    $7,246
    $36,360
    $63,420
    $99,780
    -
    $109,080
    $190,260
    $299,340

    Comparable in this City

    • Value Estimation
      $455,000
      8,208 SF

      26th Geneva Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,208 SF
      26th Geneva Rd, Carol Stream, IL 60188-2228
      View Details
    • Value Estimation
      $525,000
      17,172 SF

      335 Geneva Rd, Unit 55

      RETAIL STORES (PERSONAL SERVICES) • 17,172 SF
      335 Geneva Rd, Carol Stream, IL 60188-2438
      View Details
    • Value Estimation by Request
      4.37 Acres

      730 En Ave

      RETAIL STORES (PERSONAL SERVICES) • 4.37 Acres
      730 En Ave, Carol Stream, IL 60188-2129
      View Details
    • Value Estimation
      $5,455,000
      52,027 SF

      875 Geneva Rd, Unit 901

      RETAIL STORES (PERSONAL SERVICES) • 52,027 SF
      875 Geneva Rd, Carol Stream, IL 60188
      View Details
    • Value Estimation
      $800,000
      104,280 SF

      475 Schmale Rd

      RETAIL STORES (PERSONAL SERVICES) • 104,280 SF
      475 Schmale Rd, Carol Stream, IL 60188-2416
      View Details
    • Value Estimation
      $325,000
      6,180 SF

      1st Gary Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,180 SF
      1st Gary Ave, Carol Stream, IL 60188-2241
      View Details

    Similar Nearby for Sale

    • $1,699,900
      2.24 Acres

      Retail Property in Carol Stream

      9,750 SF retail property in a vibrant commercial area.
      1274 Kuhn Rd, Carol Stream, IL 60188
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    • $1,750,000
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      4.20 Acre Development Opportunity

      Development opportunity with B-3 zoning in Carol Stream's Business Park.
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    • New
      $2,199,000
      0.99 Acres

      Carol Stream Commercial Opportunity

      High-visibility commercial property in Carol Stream, suitable for various uses.
      415 N Gary Ave, Carol Stream, IL 60188
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    • $1,750,000
      4.20 Acres

      Prime Carol Stream Commercial Land

      4.2 Acres, B-3 Zoning, $1.75M
      0 Nec Gary Ave & Lies Rd, Carol Stream, IL 60188
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    • Contact for pricing
      33,190 SF

      Industrial Property Near I-355

      Industrial property with development potential, close to I-355.
      135 Alexandra Way, Carol Stream, IL 60188
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    • $2,026,400
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      Medical Clinic in Carol Stream

      Healthcare property with long-term tenant in high-income, dense area.
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    Similar Nearby for Lease

    • $12 SF/Yr
      2,675 SF

      Retail Space with Natural Light

      2,675 SF retail space featuring floor-to-ceiling windows.
      161 S Schmale Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      28,070 SF

      Retail Space in Carol Stream

      1,600 SF retail space with high visibility.
      540 S Schmale Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing

      Prime Retail Space Available

      Excellent visibility in high-traffic Carol Stream location.
      570 N Schmale Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space with Drive-Thru Potential

      Former bank space available for lease in Carol Stream, IL.
      879-897 E Geneva Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      37,442 SF

      Retail Space on Geneva Road

      Retail space with high visibility near major retailers.
      560 S Schmale Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      3,021 SF

      Retail Space in High-Traffic Center

      Retail space in a heavily-trafficked Carol Stream shopping center.
      1021 Fountain View Dr, Carol Stream, IL 60188
      View Details
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    283 Gary Ave
    Carol Stream, IL 60188-2006
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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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