Your AI Navigator in Commercial Real Estate
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
    Back to Search
    Property profile & analytics

    1051 Lk St Hanover Park, IL 60133-6645

    • Strip malls
    • 8,820 SF
    • 1.16 lot acres
    OFF-MARKET
    Value Estimation
    $795,000
    Last Sale
    Nov 29, 2021
    $700,000
    Location Intelligence
    Property ID
    US28-0023619
    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

    • ROCKY PATEL CIGAR LOUNGE HP / Cigar Shop / Lounge

    Property Details for 1051 Lk St

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.16 lot acres
    Property size
    8,820 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    02-05-300-024
    APU
    205300024

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $830,000

    • CAP approach

      CAP return
      Estimation
      6%
      $685,000
      6.5%
      $695,000
      7%
      $755,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $705,000
      Geo Method
      $715,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $755,000
      Retail
      $830,000
      Mixed-Use
      $700,000
      Hospitality
      $650,000
      Educational
      $760,000
      Residential Income
      $760,000
      Energy
      $720,000
      Income-Based Land
      $625,000
      Food Service
      $810,000

    Location Insight

    • Map
    • Local Demand
    City
    Hanover Park
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1291
    Latitude
    41.9771
    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
    $19,791
    $152,030
    $81,300
    $233,330
    -
    $456,090
    $243,900
    $699,990

    Comparable in this City

    • Value Estimation by Request
      24,696 SF

      1559 Irving Park Rd

      Neighborhood centers • 24,696 SF
      1559 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • Value Estimation by Request

      6622 Barrington Rd

      MINI-MALL
      6622 Barrington Rd, Hanover Park, IL 60133-3935
      View Details
    • Value Estimation
      $1,590,000
      1.27 Acres

      1804 Irving Park Rd

      MINI-MALL • 1.27 Acres
      1804 Irving Park Rd, Hanover Park, IL 60133-3255
      View Details
    • Value Estimation by Request

      6616 Barrington Rd

      MINI-MALL
      6616 Barrington Rd, Hanover Park, IL 60133-3935
      View Details
    • Value Estimation by Request

      6620 Barrington Rd

      MINI-MALL
      6620 Barrington Rd, Hanover Park, IL 60133-3935
      View Details
    • Value Estimation by Request

      6768 Barrington Rd

      MINI-MALL
      6768 Barrington Rd, Hanover Park, IL 60133-3937
      View Details

    Similar Nearby for Sale

    • $3,481,000
      24,696 SF

      Harbor Freight & Dollar Tree Retail Center

      Illinois Strip Mall, Strong Tenants, High NOI
      1559 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • $3,481,000
      24,696 SF

      Retail Building with Major Retailers

      Multi-tenant retail building featuring Harbor Freight and Dollar Tree.
      1557-1559 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • $550,000
      0.66 Acres

      Hanover Park Commercial Land

      Prime land with existing car wash, redevelopment potential.
      2630 Lake St W, Hanover Park, IL 60133
      View Details
    • New
      $99,900
      0.02 Acres

      Turn-Key Restaurant in Hanover Park

      Fully equipped seafood restaurant with liquor license on Barrington Road.
      6602 N Barrington Rd, Hanover Park, IL 60133
      View Details
    • $1,493,506
      4,182 SF

      Remodeled Auto Shop Investment Opportunity

      Single-tenant auto shop in Hanover Park retail corridor for sale.
      1655 Irving Park Rd, Hanover Park, IL 60133
      View Details
    • $169,000
      0.91 Acres

      Hanover Park Commercial C-Store

      Gas station C-store for sale in Hanover Park, Illinois.
      7401 Jensen Blvd, Hanover Park, IL 60133
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Near Metra Station

      Retail space adjacent to Barrington Rd and Hanover Park Metra.
      1738-1756 W Lake St, Hanover Park, IL 60133
      View Details
    • Contact for pricing

      Retail Space in Hanover Park

      Multiple retail spaces available for lease at $16 PSF.
      7201-7239 Olde Salem Cir, Hanover Park, IL 60133
      View Details
    • $20 SF/Yr
      2,265 SF

      Retail Space in Hanover Park

      Retail space available for lease in Hanover Park, Illinois.
      1190-1250 E Lake St, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      20,000 SF

      Westview Center Retail Space For Lease

      Hanover Park retail space, multiple units available.
      7580 Barrington Rd, Hanover Park, IL 60133
      View Details
    • $11 SF/Yr
      23,400 SF

      Greenbrook Boulevard Office Suites

      Prime Cook County Office & Retail Space
      1300 Greenbrook Blvd, Hanover Park, IL 60133
      View Details
    • Contact for pricing
      18,495 SF

      Industrial Property with Crane and Land

      Industrial property featuring a crane, ample power, and expansion potential.
      900 Muirfield Dr, Hanover Park, IL 60133
      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.
    1051 Lk St
    Hanover Park, IL 60133-6645
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    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.