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

    6155 Harlem Ave Chicago, IL 60638

    • Industrial properties
    • 76,000 SF
    • 4.00 lot acres
    For Lease
    View listing
    Last Sale
    Aug 03, 2023
    $5,600,000
    Value Estimations
    $5,355,000
    Cap Rate Potential
    9.2%
    Industrial properties
    Location Intelligence
    Property ID
    US28-1802185
    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

    • Industrial properties

    Property Details for 6155 Harlem Ave

    Year built
    1969
    Lot size
    4.00 lot acres
    Property size
    76,000 SF
    Property type
    Industrial properties
    APN
    19-18-310-030
    APU
    1918310030

    Description

    This exceptional 82,855-square-foot commercial property, located at 6155 S. Harlem Avenue in Chicago, Illinois, presents a unique investment opportunity. Situated on a 4.36-acre lot in Cook County, this single-tenant building boasts a Class B designation and offers versatile space ideal for retail, office, or manufacturing/distribution uses. The property features a substantial 24-foot ceiling height, ample parking with 46 spaces, and robust power capabilities of 6,300 amps at 480 volts. Exterior improvements include 12 exterior docks, four drive-in doors, fenced outside storage, and 22 trailer stalls with expansion potential. Recent institutional-quality renovations include a complete office overhaul, resurfaced parking areas, fresh interior and exterior paint, a new roof, and upgraded dock systems. The property's strategic location, just one mile south of the I-55 and Harlem Avenue interchange, ensures excellent accessibility and visibility. Zoned M1-2, this property is ready for immediate occupancy. The entire 82,855 square feet is currently vacant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,185,000
      ML approach
      $5,215,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,945,000
      6.5%
      $7,330,000
      7%
      $6,810,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,475,000
      Market price range: $3.08M - $7.48M
      AI Estimate
      $3,628,000
      Market price range: $1.29M - $3.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7997
    Latitude
    41.7797
    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
    $188,129
    $174,196
    $740,461
    $914,657
    -
    $696,784
    $2,961,844
    $3,658,628

    Comparable in this City

    • Value Estimation
      $235,000
      0.11 Acres

      6499 65th St

      INDUSTRIAL (GENERAL) • 0.11 Acres
      6499 65th St, Bedford Park, IL 60638-5118
      View Details
    • Value Estimation
      $345,000
      1.68 Acres

      6249 65th St

      INDUSTRIAL (GENERAL) • 1.68 Acres
      6249 65th St, Chicago, IL 60638
      View Details
    • Value Estimation
      $295,000
      1.33 Acres

      6249 65th St

      INDUSTRIAL (GENERAL) • 1.33 Acres
      6249 65th St, Bedford Park, IL 60638
      View Details
    • Value Estimation
      $235,000
      0.59 Acres

      6249 65th St

      INDUSTRIAL (GENERAL) • 0.59 Acres
      6249 65th St, Bedford Park, IL 60638
      View Details
    • Value Estimation
      $290,000
      1.56 Acres

      6633 65th St

      INDUSTRIAL (GENERAL) • 1.56 Acres
      6633 65th St, Bedford Park, IL 60638-4901
      View Details
    • Value Estimation
      $320,000
      1.18 Acres

      6249 65th St

      INDUSTRIAL (GENERAL) • 1.18 Acres
      6249 65th St, Bedford Park, IL 60638
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      68,028 SF

      Bedford Park Industrial Complex

      68,028 SF Industrial; Prime Location
      6363 73Rd St, Bedford Park, IL 60638
      View Details
    • Contact for pricing
      100,000 SF

      Bedford Park Redevelopment Opportunity

      100,000 SF redevelopment opportunity in Bedford Park Industrial District.
      6633 W 65Th St, Chicago, IL 60638
      View Details
    • $2,500,000
      35,000 SF

      Chicago Industrial Building with Storage

      Well-kept industrial building near Chicago CBD with flexible space.
      6111 South Sayre Ave, Chicago, IL 60638
      View Details
    • Contact for pricing
      88,000 SF

      Industrial Property with Heavy Power

      88,000 SF industrial space featuring heavy power and cranes.
      5443 W 70Th Pl, Chicago, IL 60638
      View Details
    • $3,570,000
      1.00 Acre

      Versatile Commercial Assemblage Near Midway

      Large commercial property near Midway Airport with redevelopment potential.
      5944 W 65Th St, Chicago, IL 60638
      View Details
    • $3,570,000
      41,000 SF

      Midway Area Commercial Assemblage

      Large commercial property near Midway Airport with redevelopment potential.
      5926-5944 W 65Th St, Chicago, IL 60638
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      306,552 SF

      Food-Grade Warehouse with Updated Office

      Food-grade warehouse with updated office and low taxes through 2030.
      6510 W 73Rd St, Chicago, IL 60638
      View Details
    • Contact for pricing
      125,000 SF

      Chicago Warehouse with Modern Amenities

      125,000 SF warehouse with A/C, compressed air, and chilled water.
      6721 W 73Rd St, Chicago, IL 60638
      View Details
    • Contact for pricing
      144,322 SF

      Chicago Warehouse Space For Lease

      144,322 SF warehouse with rail access available June 2025.
      6131 W 74Th St, Chicago, IL 60638
      View Details
    • Contact for pricing
      408,908 SF

      Bedford Park Distribution Space

      148,461 SF distribution space available for lease in April 2026.
      5100 W 70Th Pl, Chicago, IL 60638
      View Details
    • Contact for pricing
      33,300 SF

      Freight Terminal with Repair Bays

      33,300 SF freight terminal with 55 docks and repair bays.
      5504 W 47Th St, Chicago, IL 60638
      View Details
    • $5 SF/Yr
      74,320 SF

      Chicago Warehouse Near Midway Airport

      74,320 SF warehouse with proximity to transportation hubs.
      7373 S Lockwood Ave, Chicago, IL 60638
      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.
    6155 Harlem Ave
    Chicago, IL 60638
    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.