Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1223 Davis St Arlington Heights, IL 60005-2149

    • Residential income homes
    • 4,453 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1385541
    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

    • Residential income homes

    Property Details for 1223 Davis St

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    4,453 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    03-32-226-004
    APU
    332226004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $679,000
      Market price range: $680k - $956k
      AI Estimate
      $394,000
      Market price range: $395k - $593k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $795,000
      Current use
      RETAIL STORES
      $665,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.9679
    Latitude
    42.0766
    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
    $7,616
    $3,125
    $25,761
    $28,886
    -
    $31,250
    $257,610
    $288,860

    Comparable in this City

    • Value Estimation
      $595,000
      4,452 SF

      833 Mckinley Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,452 SF
      833 Mckinley Ave, Arlington Heights, IL 60005-2839
      View Details
    • Value Estimation by Request
      2,868 SF

      839 Mckinley Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,868 SF
      839 Mckinley Ave, Arlington Heights, IL 60005-2874
      View Details
    • Value Estimation by Request
      2,800 SF

      851 Mckinley Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,800 SF
      851 Mckinley Ave, Arlington Heights, IL 60005-2866
      View Details
    • Value Estimation
      $570,000
      4,200 SF

      729 Mckinley Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,200 SF
      729 Mckinley Ave, Arlington Heights, IL 60005-5502
      View Details
    • Value Estimation
      $510,000
      3,754 SF

      108 Arlington Hts Rd, Unit 10

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,754 SF
      108 Arlington Hts Rd, Arlington Heights, IL 60005-1979
      View Details
    • Value Estimation by Request
      2,016 SF

      116 Vail Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,016 SF
      116 Vail Ave, Arlington Heights, IL 60005-1843
      View Details

    Similar Nearby for Sale

    • New
      $995,000
      8,000 SF

      Commercial Building in Arlington Heights

      Well-maintained commercial building with income potential in high-traffic area.
      505 E Golf Rd, Arlington Heights, IL 60005
      View Details
    • $450,000
      0.49 Acres

      Arlington Heights Vacant Land Opportunity

      Vacant lot in Scarsdale Estates, Arlington Heights. Near downtown.
      717 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in doors.
      501-571 W Golf Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Flex Warehouse Space Available

      Flex/warehouse space with loading docks and drive-in doors.
      702-778 West Algonquin Rd, Arlington Heights, IL 60005
      View Details
    • $1,550,000

      Industrial Property in Established Park

      Seven-unit industrial property with easy access to major transportation routes.
      150 Elizabeth Dr, Arlington Heights, IL 60005
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      29,876 SF

      Golf Corporate Center: Arlington Heights

      Flexible Office & Industrial Space in Arlington Heights
      415 Golf Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      104,394 SF

      Arlington Heights Warehouse Space Available

      Industrial warehouse space available for lease in Arlington Heights.
      435 East Algonquin Rd, Arlington Heights, IL 60005
      View Details
    • $17 SF/Yr

      Office Space with Modern Amenities

      Conveniently located office space with modern amenities and easy access.
      2340 South Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Arlington Heights Warehouse Space Available

      Warehouse space available for lease in Arlington Heights, Illinois.
      2375 East Oakton St, Arlington Heights, IL 60005
      View Details
    • $1.00 SF/Yr

      Arlington Heights Office and Showroom

      Professionally managed office and showroom building in downtown Arlington Heights.
      116 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Adaptable medical office space with high visibility and convenient location.
      155 E Algonquin Rd, Arlington Heights, IL 60005
      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.
    1223 Davis St
    Arlington Heights, IL 60005-2149
    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!