Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1508 Hyland Rd, Unit 1510 Chester, IL 62233-1243
    Back to Search
    Property profile & analytics

    1508 Hyland Rd, Unit 1510, Chester, IL 62233-1243

    View on Map
    • Apartment buildings
    Off-Market
    Last Sale Jan 28, 2021
    $500,000
    Property ID
    US28-3849348
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1508 Hyland Rd

    Property type
    Apartment buildings
    APN
    18-153-017-00
    APU
    1815301700

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 28, 2021 $500,000 V & B Rentals LLC James W Best Warranty Deed $737k · Paducah Bank & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Randolph
    State
    Illinois
    Longitude
    -89.8238
    Latitude
    37.9241

    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
    $9,676
    $9,280
    $128,500
    $137,780
    -
    $27,840
    $385,500
    $413,340

    Comparable in this City

    • Value Estimation by Request
      1.89 Acres

      1414 Ct St 1416th Ct St

      APARTMENT HOUSE (5+ UNITS)
      1414 Ct St 1416th Ct St, Chester, IL 62233
      View Details
    • Value Estimation by Request

      647 State St

      APARTMENT HOUSE (5+ UNITS)
      647 State St, Chester, IL 62233-1678
      View Details
    • Value Estimation by Request

      831 Lehmen Dr

      APARTMENT HOUSE (5+ UNITS)
      831 Lehmen Dr, Chester, IL 62233-1279
      View Details
    • Value Estimation by Request
      0.24 Acres

      982 State St

      APARTMENT HOUSE (5+ UNITS)
      982 State St, Chester, IL 62233-1652
      View Details
    • Value Estimation by Request

      834 State St

      OFFICE (GENERAL)
      834 State St, Chester, IL 62233-1640
      View Details
    • Value Estimation by Request

      1941 State St

      OFFICE (GENERAL)
      1941 State St, Chester, IL 62233-1115
      View Details

    Similar Nearby for Sale

    • $180,000
      5,720 SF

      Historic Mixed-Use Building with Apartments

      Downtown street-level retail with five one-bedroom apartments and a basement with outside access for flexible use.
      104-106 W Stacey St, Chester, IL 62233
      View Details
    • $895,000
      12,400 SF

      Mixed-Use Live-Work Property

      Two buildings offer business space plus an executive apartment, with room for multiple commercial uses on over five acres.
      541b Hillview Dr, Chester, IL 62233
      View Details
    • $75,000
      0.29 Acres

      Chester Diner - Turnkey Opportunity

      High-traffic location, ready-to-open diner.
      2453 State St, Chester, IL 62233
      View Details
    • $45,000
      0.09 Acres

      Vacant Lot in Downtown Chester

      Vacant commercial lot in downtown Chester, Illinois.
      651 State St, Chester, IL 62233
      View Details
    • $474,460
      Pending

      Land on Palestine Road, Chester

      Land available on Palestine Road, Chester, Illinois.
      1001 Palestine Rd, Chester, IL 62233
      View Details
    • $210,000
      3,240 SF

      Turnkey Automotive Business Opportunity

      Fully equipped commercial property ready for immediate automotive business operation.
      2404 State St, Chester, IL 62233
      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.
    1508 Hyland Rd, Unit 1510
    Chester, IL 62233-1243
    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
    1508 Hyland Rd, Chester, IL, 62233
    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!