Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    10537 Ridgeland Ave Chicago Ridge, IL 60415
    Back to Search
    Property profile & analytics

    10537 Ridgeland Ave Chicago Ridge, IL 60415

    View on Map
    • Commercial real estate
    Off-Market
    Property ID
    US28-2085749
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Veterans of Foreign Wars / Advocacy Group / Social Service Agency

    Property Details for 10537 Ridgeland Ave

    Property type
    Commercial real estate

    Description

    This exceptional 19,075 square foot commercial land parcel presents a remarkable redevelopment opportunity in the heart of Chicago Ridge, Illinois. Located at 10537 Ridgeland Avenue, this property boasts a highly visible location on a busy thoroughfare, ensuring excellent exposure for any future development. The lot is conveniently situated just blocks from the Metra rail line, providing easy access to public transportation for employees and customers. The property's address is 10537 Ridgeland Ave, Chicago Ridge, IL 60415, within Cook County. While the original structure on the land dates back to 1943, this presents a blank canvas for a modern commercial venture. The asking price for this strategically positioned land is $285,000. Given its size, location, and proximity to public transportation, this property represents a compelling investment opportunity for developers seeking to capitalize on the growing commercial landscape of Chicago Ridge. The property's latitude and longitude coordinates are 41.7004064 and -87.7788314 respectively. This is a rare chance to acquire a substantial commercial lot in a desirable location with significant potential for future growth and profitability. Don't miss this chance to secure a prime piece of Chicago Ridge real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.7788314
    Latitude
    41.7004064

    Comparable in this City

    • $425,000

      Chicago Ridge Land For Sale

      Land available in Chicago Ridge, Illinois.
      6040 111Th St, Chicago Ridge, IL 60415
      View Details
    • New
      $425,000
      0.55 Acres

      Commercial Lot in Chicago Ridge

      Prime commercial lot in high-traffic Chicago Ridge location for sale.
      6040 111Th St, Chicago Ridge, IL 60415
      View Details
    • $389,900
      2,500 SF

      Versatile Industrial Building in Chicago Ridge

      Immaculate, rehabbed industrial building suitable for warehouse, office, or retail.
      10333 Oxford Ave, Chicago Ridge, IL 60415
      View Details
    • $1,950,000
      22,200 SF

      Chicago Ridge Industrial Facility

      22,200 SF industrial facility on 2.5 acres.
      6655 Kitty Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      22,354 SF

      Freestanding Pep Boys Ground Lease

      Pep Boys ground lease with development potential in Chicago Ridge.
      10100 Ridgeland Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      3,065 SF

      Retail Property with Long-Term Lease

      Retail property with a new 15-year lease in place.
      6401 95Th St, Chicago Ridge, IL 60415
      View Details

    Similar Nearby for Sale

    • $425,000

      Chicago Ridge Land For Sale

      Land available in Chicago Ridge, Illinois.
      6040 111Th St, Chicago Ridge, IL 60415
      View Details
    • New
      $425,000
      0.55 Acres

      Commercial Lot in Chicago Ridge

      Prime commercial lot in high-traffic Chicago Ridge location for sale.
      6040 111Th St, Chicago Ridge, IL 60415
      View Details
    • $389,900
      2,500 SF

      Versatile Industrial Building in Chicago Ridge

      Immaculate, rehabbed industrial building suitable for warehouse, office, or retail.
      10333 Oxford Ave, Chicago Ridge, IL 60415
      View Details
    • $1,950,000
      22,200 SF

      Chicago Ridge Industrial Facility

      22,200 SF industrial facility on 2.5 acres.
      6655 Kitty Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      22,354 SF

      Freestanding Pep Boys Ground Lease

      Pep Boys ground lease with development potential in Chicago Ridge.
      10100 Ridgeland Ave, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      3,065 SF

      Retail Property with Long-Term Lease

      Retail property with a new 15-year lease in place.
      6401 95Th St, Chicago Ridge, IL 60415
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Warehouse Space Available

      Approximately 1,100 sq ft warehouse with flexible layout.
      10500 Southwest Hwy, Chicago Ridge, IL 60415
      View Details
    • $22 SF/Yr

      Chicago Ridge Retail/Office Space

      Versatile space in prime location with high visibility and accessibility.
      5698 111Th St, Chicago Ridge, IL 60415
      View Details
    • New
      Contact for pricing

      Office Suites in High-Traffic Location

      Private office suites in a busy mall area, ample parking.
      10500 Southwest Hwy, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      3,560 SF

      Retail Space on 95th Street

      New construction retail space with high visibility available for lease.
      6501 95Th St, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      2,885 SF

      Retail Space with Flexible Site

      Retail space available for lease with drive-thru potential.
      6440 95Th St, Chicago Ridge, IL 60415
      View Details
    • Contact for pricing
      3,228 SF

      Retail Space in Chicago Ridge

      Retail property with high visibility and strong national retailers.
      101-110 Commons Dr, Chicago Ridge, IL 60415
      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.
    10537 Ridgeland Ave
    Chicago Ridge, IL 60415
    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

    Thank You for Inquiry
    10537 Ridgeland Ave, Chicago Ridge, IL, 60415
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!