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

    15 Chicago Ave Naperville, IL 60540

    • Turn key restaurants
    • 2,627 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Feb 17, 2022
    $1,350,000
    Value Estimations
    $1,335,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1593131
    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

    • Turn key restaurants

    Property Details for 15 Chicago Ave

    Year built
    1890
    Lot size
    0.06 lot acres
    Property size
    2,627 SF
    Zone code
    B
    Property type
    Turn key restaurants
    APN
    07-13-435-012
    APU
    713435012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,305,000
      ML approach
      $1,335,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,048,000
      Market price range: $486k - $1.31M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $815,000
      Current use
      RETAIL STORES
      $1,085,000
      Change: +33% Conversion: Easy
      AUTO REPAIR, GARAGE
      $930,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Naperville
    County
    Dupage
    State
    Illinois
    Longitude
    -88.1485
    Latitude
    41.7717
    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
    2023
    $27,917
    $75,630
    $276,080
    $351,710
    -
    $226,890
    $828,240
    $1,055,130

    Comparable in this City

    • Value Estimation by Request
      9,022 SF

      510 Rte 59

      RESTAURANT • 9,022 SF
      510 Rte 59, Naperville, IL 60540-0915
      View Details
    • Value Estimation by Request
      4,288 SF

      36 Chicago Ave, Unit 50

      RESTAURANT • 4,288 SF
      36 Chicago Ave, Naperville, IL 60540-5302
      View Details
    • Value Estimation by Request
      5,661 SF

      36 Chicago Ave, Unit 50

      RESTAURANT • 5,661 SF
      36 Chicago Ave, Naperville, IL 60540-5302
      View Details
    • Value Estimation by Request
      6,376 SF

      264 Rte 59

      RESTAURANT • 6,376 SF
      264 Rte 59, Naperville, IL 60540-3923
      View Details
    • Value Estimation
      $680,000
      8,379 SF

      1025 Aurora Ave

      RESTAURANT • 8,379 SF
      1025 Aurora Ave, Naperville, IL 60540-6268
      View Details
    • Value Estimation by Request
      2,700 SF

      19 Washington St

      RESTAURANT • 2,700 SF
      19 Washington St, Naperville, IL 60540-4509
      View Details

    Similar Nearby for Sale

    • $4,400,000
      16,954 SF

      The Jefferson Hill building is a mixed use restaurant, retail and office For Sale

      The Jefferson Hill building is a mixed use restaurant, retail and office For Sale
      43 E Jefferson Ave, Naperville, IL 60540
      View Details
    • $4,400,000
      16,954 SF

      Downtown Naperville Mixed-Use

      Historic building, high upside potential.
      43 Jefferson Ave, Naperville, IL 60540
      View Details
    • Contact for pricing
      52,101 SF

      Prime Retail and Restaurant Space

      Retail and restaurant spaces in a busy Naperville retail corridor.
      2764 Aurora Ave, Naperville, IL 60540
      View Details
    • Contact for pricing
      4,200 SF

      Naperville Restaurant/Retail Opportunity For Sale

      Two-story restaurant/retail space with outdoor patio in downtown Naperville.
      20 W Chicago Ave, Naperville, IL 60540
      View Details
    • $3,500,000
      4,200 SF

      Naperville Riverwalk Restaurant

      Prime Downtown Naperville Restaurant, Vacant, 4,200 SF
      20 Chicago Ave, Naperville, IL 60540
      View Details
    • $14,586,540
      65,083 SF

      1759 Ogden Ave

      Individual retail properties • 65,083 SF
      1759 Ogden Ave, Naperville, IL 60540
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      15,000 SF

      Naperville Medical Office Space

      15,000 SF Divisible Medical Office
      1528 Aurora Ave, Naperville, IL 60540
      View Details
    • Contact for pricing
      10,325 SF

      Naperville Executive Office Space

      Prime Downtown Naperville Office, Ample Parking
      19-27 Jefferson Ave, Naperville, IL 60540
      View Details
    • Contact for pricing
      181,759 SF

      Naperville Executive Office Suites

      Downtown Naperville Office Space Available
      55 Main St, Naperville, IL 60540
      View Details
    • Contact for pricing
      1,878 SF

      Fox Run Square Retail Space

      Grocery-anchored retail space available.
      1212 Naper Blvd, Naperville, IL 60540
      View Details
    • $28 SF/Yr
      52,101 SF

      Naperville Retail Center - Prime Location

      Upscale retail space, strong co-tenancy, high visibility.
      2764 Aurora Ave, Naperville, IL 60540
      View Details
    • Contact for pricing
      685 SF

      Retail Space in Naperville Center

      Retail space with high visibility and strong economic environment.
      2511 W 75Th St, Naperville, IL 60540
      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.
    15 Chicago Ave
    Naperville, IL 60540
    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.