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    Property profile & analytics

    1113 1st Ave Maywood, IL 60153

    • Retail space
    • 2,050 SF
    • 0.38 lot acres
    OFF-MARKET
    Last Sale
    Feb 23, 2023
    $350,000
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    8.6%
    Retail space
    Location Intelligence
    Property ID
    US28-1815330
    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

    • Retail space

    Property Details for 1113 1st Ave

    Year built
    1984
    Lot size
    0.38 lot acres
    Property size
    2,050 SF
    Property type
    Retail space
    APN
    15-14-200-018
    APU
    1514200018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $330,000
      ML approach
      $320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $475,000
      6.5%
      $440,000
      7%
      $405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $506,000
      Market price range: $143k - $555k
      AI Estimate
      $321,000
      Market price range: $88.3k - $329k

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

    Location Insight

    • Map
    • Local Demand
    City
    Maywood
    County
    Cook
    State
    Illinois
    Longitude
    -87.8336
    Latitude
    41.8775
    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
    $30,954
    $41,717
    $13,262
    $54,979
    -
    $166,868
    $53,048
    $219,916

    Comparable in this City

    • Value Estimation
      $320,000
      0.08 Acres

      318 Madison St

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      318 Madison St, Maywood, IL 60153-2151
      View Details
    • Value Estimation
      $285,000
      0.08 Acres

      615 5th

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      615 5th, Maywood, IL 60153
      View Details
    • Value Estimation
      $310,000
      0.33 Acres

      712 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.33 Acres
      712 5th Ave, Maywood, IL 60153
      View Details
    • Value Estimation
      $305,000
      0.08 Acres

      1300 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      1300 5th Ave, Maywood, IL 60153-2127
      View Details
    • Value Estimation
      $285,000
      0.08 Acres

      715 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      715 5th Ave, Maywood, IL 60153-2048
      View Details
    • Value Estimation
      $315,000
      0.14 Acres

      35 19th Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.14 Acres
      35 19th Ave, Maywood, IL 60153-2663
      View Details

    Similar Nearby for Sale

    • $220,000
      0.08 Acres

      Updated Storefront in Maywood, IL

      City-approved, updated storefront ideal for salon, studio, or small business.
      1209 S 5Th Ave, Maywood, IL 60153
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    • $169,900
      0.17 Acres

      Mixed-Use Property in Maywood, IL

      Mixed-use property with commercial space and residential apartment.
      216 N 3Rd Ave, Maywood, IL 60153
      View Details
    • $200,000
      0.08 Acres

      Maywood Mixed-Use Property For Sale

      Mixed-use property with retail space and a three-bedroom apartment.
      1310 5Th Ave S, Maywood, IL 60153
      View Details
    • $2,425,000
      0.48 Acres

      Truck Repair Facility with Store

      Maywood truck repair facility with adjacent convenience store for sale.
      1310 S 4Th Ave, Maywood, IL 60153
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    • $450,000
      1.41 Acres

      Maywood Commercial Property For Sale

      Large lot with existing structure and ample parking.
      615 S 5Th Ave, Maywood, IL 60153
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    • $450,000
      22,000 SF

      Maywood Retail Development Site

      Prime Retail Land, High-Growth Area
      615 5Th Ave, Maywood, IL 60153
      View Details

    Similar Nearby for Lease

    • $1,450 /Mo
      1,100 SF

      Maywood Retail Space For Rent

      Retail space available on 5th Avenue in Maywood, Illinois.
      701-713 S 5Th Ave, Maywood, IL 60153
      View Details
    • Contact for pricing

      Retail Storefront Space on 5th

      Retail/Office space in Maywood with parking.
      905 S 5Th Ave, Maywood, IL 60153
      View Details
    • $1,200 /Mo
      800 SF

      Maywood Retail/Office Space Available

      Prime location retail/office space for lease in Maywood.
      1001-1009 S 17Th Ave, Maywood, IL 60153
      View Details
    • Contact for pricing

      Prime Storefront in Maywood, IL

      816 SF storefront in high-traffic area with growth potential.
      1702 Madison St, Maywood, IL 60153
      View Details
    • $3,000 /Mo

      Maywood Storefront Ready For Rent

      2,304 SF storefront in high-traffic area, growth potential.
      1700 Madison St, Maywood, IL 60153
      View Details
    • Contact for pricing
      8,300 SF

      Maywood Office Space For Lease

      Prime Maywood location, flexible office suites.
      1001-31 17Th Ave, Maywood, IL 60153
      View Details
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    1113 1st Ave
    Maywood, IL 60153
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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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