Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1021 48th St Chicago, IL 60609
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1021 48th St Chicago, IL 60609

    View on Map
    • Industrial properties
    • 52,000 SF
    • 1.99 lot acres
    Off-Market
    Last Sale Mar 7, 2024
    $1,700,000
    Property ID
    US28-1676734
    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.
    Value Estimations
    $1,700,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Charles Fill Architect LLC / Architect

    Property Details for 1021 48th St

    Year built
    1972
    Lot size
    1.99 lot acres
    Property size
    52,000 SF
    Property type
    Industrial properties
    APN
    20-08-205-006
    APU
    2008205006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,700,000
      ML approach
      $1,700,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,257,000
      Market price range: $574k - $2.03M

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6514
    Latitude
    41.8063
    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
    $69,418
    $86,630
    $250,870
    $337,500
    -
    $346,520
    $1,003,480
    $1,350,000

    Comparable in this City

    • Value Estimation by Request
      0.92 Acres

      4101 State St

      Land • 4,463 SF
      4101 State St, Chicago, IL 60609
      View Details
    • Value Estimation by Request

      1420 141st St

      INDUSTRIAL (GENERAL)
      1420 141st St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.07 Acres

      2226 47th Pl

      INDUSTRIAL (GENERAL) • 0.07 Acres
      2226 47th Pl, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.07 Acres

      1426 46th St

      INDUSTRIAL (GENERAL) • 0.07 Acres
      1426 46th St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.07 Acres

      2326 41st St

      INDUSTRIAL (GENERAL) • 0.07 Acres
      2326 41st St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.08 Acres

      2317 42nd St

      INDUSTRIAL (GENERAL) • 0.08 Acres
      2317 42nd St, Chicago, IL 60609
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      520,000 SF

      520,000 SF Freestanding Building

      520,000 SF building on 6.31 acres in Chicago, IL.
      2055 W Pershing Rd, Chicago, IL 60609
      View Details
    • Contact for pricing
      155,000 SF

      Income Producing Bridgeport Multi-Story Building

      Multi-story building with parking and vacant land in Bridgeport.
      3636 S Iron St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Stockyards Industrial Building For Sale

      37,962 SF industrial building in Stockyards Industrial Park.
      4141 South Peoria St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Industrial Property in Chicago

      Industrial property available for sale in Chicago, Illinois.
      1104 W 43Rd St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Food Grade Manufacturing Space

      19,800 SF food grade manufacturing space for sale.
      3661 South Iron St, Chicago, IL 60609
      View Details
    • Contact for pricing
      12,000 SF

      Chicago Warehouse with Billboard Income

      NN leased United Rentals investment property with billboard income.
      4027 S Wentworth Ave, Chicago, IL 60609
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Self-Storage Facility with Indoor Vehicle Storage

      Chicago self-storage facility with climate control and vehicle storage.
      1919 W Pershing Rd, Chicago, IL 60609
      View Details
    • $5 SF/Yr

      Clock Tower Industrial Center Space

      1.3 million SF industrial, studio, and warehouse space for lease.
      1965 W Pershing Rd, Chicago, IL 60609
      View Details
    • Contact for pricing
      180,900 SF

      New Construction Warehouse Space Available

      New 180,900 SF warehouse in Chicago's Stockyards Industrial Park.
      4002 South Princeton Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      35,909 SF

      Industrial Space in Stockyards

      Industrial building with access to major interstates and downtown Chicago.
      4031 S Racine Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      33,600 SF

      Chicago Industrial Space For Lease

      33,600 SF industrial space in Stockyards Industrial Park.
      1215 West 37Th St, Chicago, IL 60609
      View Details
    • Contact for pricing
      56,264 SF

      Halsted Pershing Business Center Space

      Available warehouse space at Halsted Pershing Business Center.
      815 West Pershing Rd, Chicago, IL 60609
      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.
    1021 48th St
    Chicago, IL 60609
    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.
    Sign Up Successful!
    You now have access to more from Realmo!