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

    1509 Riv Rd Des Plaines, IL 60018-1760

    • Commercial real estate
    • 3.68 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0142215
    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

    • O'Hare Auto Group & Body Shop / Auto Repair Shop
    • AutoNation Hyundai O'Hare Parts Center / Auto Parts Store
    • AutoNation Honda O'Hare Service Center / Auto Repair Shop / Vehicle Inspection Center
    • AutoNation Hyundai O'Hare Service Center / Auto Repair Shop / Vehicle Inspection Center
    • AutoNation Hyundai O'Hare / Car Dealership

    Property Details for 1509 Riv Rd

    Year built
    1970
    Lot size
    3.68 lot acres
    Property type
    Commercial real estate
    APN
    09-21-302-057
    APU
    921302057

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Plaines
    County
    Cook
    State
    Illinois
    Longitude
    -87.8762
    Latitude
    42.0255
    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
    $307,457
    $588,822
    $606,046
    $1,194,868
    -
    $2,355,288
    $2,424,184
    $4,779,472

    Comparable in this City

    • Value Estimation by Request

      10490 Betty Ct

      Commercial real estate
      10490 Betty Ct, Rosemont, IL 60018
      View Details
    • Value Estimation by Request

      9700 Bryn Mawr Ave

      COMMERCIAL (GENERAL)
      9700 Bryn Mawr Ave, Rosemont, IL 60018-5701
      View Details
    • Value Estimation by Request
      0.37 Acres

      9411 Higgins Rd

      COMMERCIAL (GENERAL) • 0.37 Acres
      9411 Higgins Rd, Des Plaines, IL 60018
      View Details
    • Value Estimation
      $555,000
      6.13 Acres

      27 Jennie Finch Way

      COMMERCIAL (GENERAL) • 6.13 Acres
      27 Jennie Finch Way, Des Plaines, IL 60018-5244
      View Details
    • Value Estimation by Request
      0.00 Acres

      1836 Mannheim Rd

      COMMERCIAL (GENERAL) • 0.00 Acres
      1836 Mannheim Rd, Des Plaines, IL 60018-2369
      View Details
    • Value Estimation by Request
      0.00 Acres

      1808 Mannheim Rd

      COMMERCIAL (GENERAL) • 0.00 Acres
      1808 Mannheim Rd, Des Plaines, IL 60018-2369
      View Details

    Similar Nearby for Sale

    • $250,000
      1.45 Acres

      Professional Office Suite in Rosemont

      Well-maintained office suite with conference and break rooms.
      10700 W Higgins Rd, Rosemont, IL 60018
      View Details
    • $150,000
      39,173 SF

      Rosemont Office Condo - Great ROI

      High-demand location, strong lease in place.
      10700 Higgins Rd, Rosemont, IL 60018
      View Details
    • $1,200,000
      0.84 Acres

      Redevelopment Land in Des Plaines

      Prime 0.84-acre redevelopment site in booming Des Plaines.
      1641 E Touhy Ave, Des Plaines, IL 60018
      View Details
    • $575,000
      4,700 SF

      Rosemont Office Condo - 4700 SF

      Modern Office Suite, Prime Rosemont Location
      10700 Higgins Rd, Rosemont, IL 60018
      View Details
    • Contact for pricing

      Mobil Gas Station on Huge Lot

      Gas station with large lot, potential for fast food franchise.
      1602 S River Rd, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      6,865 SF

      Newer Retail Building Near Airport

      6,865 SF building near O’Hare International Airport.
      2392 S Wolf Rd, Des Plaines, IL 60018
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Parkway Bank Park Entertainment Project

      300,000 square foot entertainment project in Rosemont, Illinois.
      & I-294 Balmoral Ave, Rosemont, IL 60018
      View Details
    • Contact for pricing

      Office Space with Modern Amenities

      High-quality office space in O’Hare submarket with excellent transportation access.
      1700 West Higgins Rd, Des Plaines, IL 60018
      View Details
    • $23 SF/Yr
      8,664 SF

      Five-Story Office Building For Rent

      Office building with views, fitness center, and customizable spaces.
      1011 E Touhy Ave, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      2,347 SF

      Des Plaines Office Space Available

      New office space with private offices and open area.
      2860 S River Rd, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      6,235 SF

      Des Plaines Industrial Space Available

      6,235 SF industrial space near O’Hare's north entrance.
      2287-2321 S Mount Prospect Rd, Des Plaines, IL 60018
      View Details
    • Contact for pricing
      171,600 SF

      Des Plaines Warehouse Space Available

      171,600 SF warehouse near I-90 and O’Hare.
      424 Howard Ave, Des Plaines, IL 60018
      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.
    1509 Riv Rd
    Des Plaines, IL 60018-1760
    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!