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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10140 S Roberts Rd Palos Hills, IL 60465

    • Residential income homes
    • 7,753 SF
    • 0.51 lot acres
    For Sale
    View listing
    $1,049,000
    Last Sale
    Dec 15, 2022
    $617,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0906264
    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

    • Residential income homes

    Property Details for 10140 S Roberts Rd

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.51 lot acres
    Property size
    7,753 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    23-11-408-010
    APU
    2311408010

    Description

    This 2,000-7,800 square foot freestanding building, located at 10140 S Roberts Rd in Palos Hills, IL 60465, presents a unique investment opportunity. Recently renovated in 2023, the property boasts a ready-to-go banquet hall with seating for up to 260 people, plus an additional front bar area suitable for restaurant or bar use. The 0.5-acre lot is situated in a thriving commercial district, surrounded by national retailers such as Jewel-Osco, Burger King, Planet Fitness, and Dunkin' Donuts. The property's high visibility and convenient location near Moraine Valley Community College, Stagg High School, Koraes Elementary School, and Palos Hospital ensure a strong customer base. The building is zoned C1 and features a modified lease type. Currently vacant, this property offers significant potential for a variety of uses. The asking price is $1,095,000, and the seller is offering a closing cost credit to the buyer. This is a turnkey operation in a densely populated area with excellent access and visibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $710,000
      ML approach
      $700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $948,000
      Market price range: $948k - $1.25M
      AI Estimate
      $611,000
      Market price range: $584k - $998k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,110,000
      Current use
      RETAIL STORES
      $1,155,000
      Change: +4% Conversion: Difficult
      OFFICE BUILDING
      $1,035,000
      Change: -7% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $940,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Palos Hills
    County
    Cook
    State
    Illinois
    Longitude
    -87.8178
    Latitude
    41.7063
    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
    $17,407
    $14,856
    $39,003
    $53,859
    -
    $148,560
    $390,030
    $538,590

    Comparable in this City

    • Value Estimation
      $470,000
      4,346 SF

      9747 89th Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,346 SF
      9747 89th Ave, Palos Hills, IL 60465-1063
      View Details
    • Value Estimation
      $475,000
      4,346 SF

      9701 89th Ave, Unit 1N

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,346 SF
      9701 89th Ave, Palos Hills, IL 60465-1057
      View Details
    • Value Estimation
      $480,000
      4,346 SF

      8919 97th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,346 SF
      8919 97th St, Palos Hills, IL 60465-1070
      View Details
    • Value Estimation
      $470,000
      4,945 SF

      11240 Helena Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,945 SF
      11240 Helena Dr, Palos Hills, IL 60465-2198
      View Details
    • Value Estimation
      $475,000
      3,000 SF

      10600 80th Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,000 SF
      10600 80th Ct, Palos Hills, IL 60465-1812
      View Details
    • Value Estimation
      $385,000
      2,681 SF

      10601 84th Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,681 SF
      10601 84th Ave, Palos Hills, IL 60465-1803
      View Details

    Similar Nearby for Sale

    • $1,049,000
      0.50 Acres

      Palos Hills Mixed-Use Building

      Mixed-use building with banquet hall and residential apartments.
      10140 S Roberts Rd, Palos Hills, IL 60465
      View Details
    • $270,000
      1,600 SF

      First Floor Condo with Garage

      Three-bedroom condo with screened porch, garage, and community amenities.
      9198 South Rd, Palos Hills, IL 60465
      View Details
    • $210,000

      Spacious Condo in Palos Hills

      Bright 2-bedroom, 2-bath condo with open layout and garage.
      11130 Northwest Rd, Palos Hills, IL 60465
      View Details
    • $249,000
      1,480 SF

      Updated Condo with Patio

      Two-bedroom condo with modern kitchen, updated bathrooms, and patio.
      8234 Chestnut Dr, Palos Hills, IL 60465
      View Details
    • $280,000

      Palos Hills Townhouse with Patio

      Well-maintained 2-bedroom townhouse in Palos Hills with private patio.
      14 Cour Caravelle, Palos Hills, IL 60465
      View Details
    • $750,000
      3,200 SF

      Palos Hills Free Standing Restaurant

      Free standing restaurant with patio in Palos Hills, Illinois.
      10331 S Roberts Rd, Palos Hills, IL 60465
      View Details

    Similar Nearby for Lease

    • $1,750 /Mo

      Top-Floor Condo in Riviera Regal

      Bright, well-maintained 2-bedroom condo with modern amenities.
      11126 S 84Th Ave, Palos Hills, IL 60465
      View Details
    • $23 SF/Yr
      9,800 SF

      10101 Roberts Road Office Space

      Versatile Palos Hills Office Building
      10101 Roberts Rd, Palos Hills, IL 60465
      View Details
    • $30 SF/Yr

      Retail Space Palos Hills

      Retail space available in high traffic area near courthouse.
      10296 S 78Th Ave, Palos Hills, IL 60465
      View Details
    • $18 SF/Yr

      Private Office Space For Rent

      350 SF private office space available for immediate occupancy.
      10135 S Roberts Rd, Palos Hills, IL 60465
      View Details
    • $18 SF/Yr

      Move-In Ready Office Space

      Professional building with various office spaces available for rent.
      10125 S Roberts Rd, Palos Hills, IL 60465
      View Details
    • $18 SF/Yr

      Private Office Space Available

      350 SF office space for rent. Ready to move-in.
      10135 S Roberts Rd, Palos Hills, IL 60465
      View Details
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    10140 S Roberts Rd
    Palos Hills, IL 60465
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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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