Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12200 Western Ave Blue Island, IL 60406-1398
    Back to Search
    Property profile & analytics

    12200 Western Ave, Blue Island, IL 60406-1398

    View on Map
    • Retail space
    • 0.07 lot acres
    Off-Market
    Last Sale Sep 12, 2022
    $6,100,000
    Property ID
    US28-2713409
    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
    $5,440,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Jaya Arora, DDS / Dental Office
    • Dr. Sujata Pradhan, DDS / Dental Office
    • Dr. Sami M. Diab, DDS / Dental Office
    • Fresenius Medical Care: Nagpal Ruchi DDS / Dental Office
    • Brown Kamille L DDS / Dental Office

    Property Details for 12200 Western Ave

    Year built
    2006
    Lot size
    0.07 lot acres
    Property type
    Retail space
    APN
    24-25-225-027
    APU
    2425225027

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 12, 2022 $6,100,000 Hc2 Blue Island Il LLC Shops At Blue Island LLC Special Warranty Deed $4M · Cit Bank NA
    Feb 26, 2008 $10 Shops At Blue Island LLC Blue Island Retail Venture LLC Grant Deed · related $3.9M · Great Lakes Bank
    Jan 27, 2006 $1,153,000 Blue Island Retail Venture LLC Trust 118611-01 Grant Deed $3.2M · First Midwest Bank
    Mar 14, 2003 — Lasalle Bank NA Trustee — Deed Of Trust · related $1.2M · Bank One NA
    Mar 13, 2003 — Lasalle Bank NA Trustee — Deed Of Trust · related $1.2M · Bank One NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,795,000
      ML approach
      $4,770,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Blue Island
    County
    Cook
    State
    Illinois
    Longitude
    -87.6809
    Latitude
    41.6713
    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
    $18,051
    $4,875
    $32,931
    $37,806
    -
    $19,500
    $131,724
    $151,224

    Comparable in this City

    • Value Estimation by Request

      14235 Dixie Hwy

      RETAIL STORES (PERSONAL SERVICES)
      14235 Dixie Hwy, Blue Island, IL 60406
      View Details
    • Value Estimation by Request
      0.07 Acres

      12059 Western Ave

      RETAIL STORES (PERSONAL SERVICES)
      12059 Western Ave, Blue Island, IL 60406-1162
      View Details
    • Value Estimation by Request
      0.17 Acres

      12640 Western Ave

      RETAIL STORES (PERSONAL SERVICES)
      12640 Western Ave, Blue Island, IL 60406
      View Details
    • Value Estimation by Request
      0.07 Acres

      12120 Western Ave

      RETAIL STORES (PERSONAL SERVICES)
      12120 Western Ave, Blue Island, IL 60406-1328
      View Details
    • Value Estimation by Request
      0.05 Acres

      13057 Western Ave

      RETAIL STORES (PERSONAL SERVICES)
      13057 Western Ave, Blue Island, IL 60406-2418
      View Details
    • Value Estimation by Request
      0.04 Acres

      2428 Vermont St

      STORE, RETAIL OUTLET
      2428 Vermont St, Blue Island, IL 60406-2304
      View Details

    Similar Nearby for Sale

    • $375,000
      0.15 Acres

      Mixed-Use Building with Extra Lot

      Two-story building with retail, apartment, lot, and income.
      13341 Olde Western Ave, Blue Island, IL 60406
      View Details
    • $425,000
      2,882 SF

      Blue Island Mixed-Use Investment

      Commercially zoned property with retail space and income-generating apartment.
      12522 Western Ave, Blue Island, IL 60406
      View Details
    • Contact for pricing
      2,882 SF

      Commercially Zoned Mixed-Use Property

      Mixed-use property with retail space, office, and apartment.
      12522 Western Ave, Blue Island, IL 60406
      View Details
    • $155,000
      3,000 SF

      Blue Island Commercial Opportunity

      3000 sqft commercial space with restaurant equipment included.
      1964 Vermont St, Blue Island, IL 60406
      View Details
    • New
      $199,000
      Pending

      Blue Island Mixed-Use Opportunity

      Mixed-use property in Blue Island's Olde Western Historic District.
      13315 Olde Western Ave, Blue Island, IL 60406
      View Details
    • $140,000
      0.10 Acres

      Blue Island Retail Opportunity

      Commercial property for sale in Blue Island, Illinois.
      13016 Western Ave S, Blue Island, IL 60406
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,301 SF

      Blue Island Commercial Retail Space

      Ready-to-lease building in Blue Island with recent upgrades.
      2418 Vermont St, Blue Island, IL 60406
      View Details
    • Contact for pricing
      5,602 SF

      Professionally Finished Office Space Available

      Prime location office space for lease in Blue Island, IL.
      12151 S Western Ave SE, Blue Island, IL 60406
      View Details
    • Contact for pricing

      Clean Warehouse with Office Space

      Warehouse with office space, parking, and drive-in door.
      12541 Western Ave, Blue Island, IL 60406
      View Details
    • Contact for pricing

      Downtown Blue Island Office/Retail Space

      3,550 SF office/retail space in downtown Blue Island.
      13102 S Western Ave, Blue Island, IL 60406
      View Details
    • Contact for pricing

      Blue Island Retail Space Available

      Retail spaces available in high-traffic Blue Island shopping center.
      12601 S Western Ave, Blue Island, IL 60406
      View Details
    • $25 SF/Yr

      Blue Island Retail/Office/Medical Space

      Retail, medical, or office space in Blue Island, Illinois.
      12601 S Western Ave, Blue Island, IL 60406
      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.
    12200 Western Ave
    Blue Island, IL 60406-1398
    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
    12200 Western Ave, Blue Island, IL, 60406
    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!