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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12600 Laramie Ave Alsip, IL 60803-3226

    • Industrial properties
    • 4.26 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2017239
    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

    • All Chicago Fleet Maintenance / Truck Repair Shop

    Property Details for 12600 Laramie Ave

    Year built
    1977
    Lot size
    4.26 lot acres
    Property type
    Industrial properties
    APN
    24-28-400-083
    APU
    2428400083

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Alsip
    County
    Cook
    State
    Illinois
    Longitude
    -87.7503
    Latitude
    41.6645
    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
    $84,447
    $139,276
    $70,985
    $210,261
    -
    $557,104
    $283,940
    $841,044

    Comparable in this City

    • Value Estimation by Request
      162,714 SF

      11746-11756 Austin Ave

      Manufacturing properties • 162,714 SF
      11746-11756 Austin Ave, Alsip, IL 60803
      View Details
    • Value Estimation
      $300,000
      23.97 Acres

      5555 115th St

      INDUSTRIAL (GENERAL) • 23.97 Acres
      5555 115th St, Alsip, IL 60803-5179
      View Details
    • Value Estimation
      $295,000
      0.76 Acres

      4855 115th St

      INDUSTRIAL (GENERAL) • 0.76 Acres
      4855 115th St, Alsip, IL 60803-2864
      View Details
    • Value Estimation
      $320,000
      1.13 Acres

      4857 115th St

      INDUSTRIAL (GENERAL) • 1.13 Acres
      4857 115th St, Alsip, IL 60803-2864
      View Details
    • Value Estimation
      $355,000
      0.61 Acres

      5800 117th Pl

      INDUSTRIAL (GENERAL) • 0.61 Acres
      5800 117th Pl, Alsip, IL 60803-6019
      View Details
    • Value Estimation
      $320,000
      0.76 Acres

      5908 118th St

      INDUSTRIAL (GENERAL) • 0.76 Acres
      5908 118th St, Alsip, IL 60803-6037
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,200 SF

      Alsip Industrial Facility - For Sale

      7,200 SF Manufacturing/Warehouse, 1.81 Acres
      11540 Central Ave, Alsip, IL 60803
      View Details
    • $325,000
      72,030 SF

      Industrial Property in Alsip, Illinois

      72,030 square foot industrial property for sale.
      13005 S Hamlin Ct, Alsip, IL 60803
      View Details
    • $11,500,000
      37,000 SF

      Alsip Warehouse: $11.5M Investment

      Modern warehouse, 37,000 SF, 8.95 acres
      3600 127Th St, Alsip, IL 60803
      View Details
    • $620,000
      5,320 SF

      Alsip Warehouse: Prime Industrial Space

      5,320 SF Warehouse, $620K, Updated 2024
      4135 123Rd St, Alsip, IL 60803
      View Details
    • Contact for pricing
      25,600 SF

      Industrial Property in Alsip, Illinois

      25,600 SF industrial property available for sale.
      5700 W 120Th St, Alsip, IL 60803
      View Details
    • Contact for pricing
      45,000 SF

      45,000 SF Industrial Building For Sale

      Industrial building with docks and drive-in doors near I-294.
      12401-12427 S Kedvale Ave, Alsip, IL 60803
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      70,000 SF

      Alsip Flex Space: Two Buildings

      70,000 SF Flex Space, Cook County, IL
      12600 Kroll Dr, Alsip, IL 60803
      View Details
    • Contact for pricing
      106,933 SF

      Alsip Warehouse Near I-294

      106,933 SF warehouse with I-294 access and airport proximity.
      11939 S Central Ave, Alsip, IL 60803
      View Details
    • Contact for pricing
      162,714 SF

      Alsip Industrial Manufacturing Space

      Multiple Units, 27K-61K SF Available
      11746-11756 Austin Ave, Alsip, IL 60803
      View Details
    • Contact for pricing
      12,500 SF

      Alsip Flex Space Available

      Flex space with office, dock, drive-in doors, and parking.
      12600 S Holiday Dr, Alsip, IL 60803
      View Details
    • Contact for pricing
      127,942 SF

      Spacious Industrial Unit with Accessibility

      127,942 SF industrial unit with excellent transportation access.
      5625 W 115Th St, Alsip, IL 60803
      View Details
    • Contact for pricing
      213,096 SF

      Industrial Facility Near Major Interstates

      Industrial facility with office space and convenient interstate access.
      5100 West 123Rd St, Alsip, IL 60803
      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.
    12600 Laramie Ave
    Alsip, IL 60803-3226
    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.
    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.