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

    1512 Convent St Bourbonnais, IL 60914-2184

    • Commercial real estate
    • 1.28 lot acres
    OFF-MARKET
    Last Sale
    Jul 17, 2025
    $1,908,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3661486
    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

    • Arby's / Restaurant / Take-out & Catering

    Property Details for 1512 Convent St

    Lot size
    1.28 lot acres
    Property type
    Commercial real estate
    APN
    17-09-08-302-008
    APU
    170908302008

    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
    Bourbonnais
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.8749
    Latitude
    41.1799
    CBSA code
    28100
    CBSA name
    KANKAKEE-BRADLEY, IL 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
    $21,034
    $93,482
    $162,201
    $255,683
    -
    $280,446
    $486,603
    $767,049

    Comparable in this City

    • Value Estimation by Request
      3.08 Acres

      64 Ken Hayes Dr

      COMMERCIAL (GENERAL) • 3.08 Acres
      64 Ken Hayes Dr, Bourbonnais, IL 60914-9347
      View Details
    • Value Estimation by Request
      2.12 Acres

      62 Ken Hayes Dr

      COMMERCIAL (GENERAL) • 2.12 Acres
      62 Ken Hayes Dr, Bourbonnais, IL 60914-9347
      View Details
    • Value Estimation by Request

      Larry Power Rd

      COMMERCIAL (GENERAL)
      Larry Power Rd, Bourbonnais, IL 60914
      View Details
    • Value Estimation by Request
      0.19 Acres

      165 Main St

      COMMERCIAL (GENERAL) • 0.19 Acres
      165 Main St, Bourbonnais, IL 60914-1913
      View Details
    • Value Estimation by Request

      165 Mohawk Dr

      COMMERCIAL (GENERAL)
      165 Mohawk Dr, Bourbonnais, IL 60914-1349
      View Details
    • Value Estimation
      $21,510,000
      35.35 Acres

      1317 Arthur Burch Dr

      COMMERCIAL (GENERAL) • 35.35 Acres
      1317 Arthur Burch Dr, Bourbonnais, IL 60914-4219
      View Details

    Similar Nearby for Sale

    • $2,883,600
      32.40 Acres

      Bourbonnais Commercial Land - I-57

      32+ Acres, Prime Development Site
      700 6000N Rd, Bourbonnais, IL 60914
      View Details
    • Contact for pricing
      1.64 Acres

      Bourbonnais Retail Outlots

      Prime 1.635-acre retail land, ideal for development.
      455 Main St, Bourbonnais, IL 60914
      View Details
    • $249,900
      0.65 Acres

      Lakeland Industrial Land Lease

      Two-acre industrial lot, prime location.
      0 Us-45, Bourbonnais, IL 60914
      View Details
    • $565,000
      4,900 SF

      Bourbonnais Retail Storefront Investment

      High-traffic location, two buildings, 4,900 SF
      1321 Arthur Burch Dr, Bourbonnais, IL 60914
      View Details
    • $950,000
      900 SF

      Bourbonnais Mixed-Use Investment Opportunity

      High-yield, 3-house, tree service property.
      777 Convent St, Bourbonnais, IL 60914
      View Details
    • $90,000

      Land Available in Bourbonnais, IL

      Land for sale at 750 Almar Pkwy, Bourbonnais, Illinois.
      750 Almar Pkwy, Bourbonnais, IL 60914
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      5,614 SF

      Retail Space in Bradley Commons

      Retail space available in a busy Bourbonnais shopping center.
      2088 N State Route 50, Bourbonnais, IL 60914
      View Details
    • Contact for pricing
      4,000 SF

      Bourbonnais Retail Space Available

      4,000 SF retail space for lease in Bourbonnais, Illinois.
      2082 N State Route 50, Bourbonnais, IL 60914
      View Details
    • $22 SF/Yr
      20,000 SF

      Bourbonnais Office Space Available

      20,000 SF office space ideal for medical or professional offices.
      581 William R Latham Sr Dr, Bourbonnais, IL 60914
      View Details
    • Contact for pricing
      8,479 SF

      Free-Standing Building in Bradley, IL

      8,479 SF building suitable for retail or commercial use.
      1604 N State Route 50, Bourbonnais, IL 60914
      View Details
    • $17 SF/Yr
      1,700 SF

      Bourbonnais Office Space For Rent

      Office space available for lease in Bourbonnais, Illinois.
      475 Brown Blvd, Bourbonnais, IL 60914
      View Details
    • $185 SF/Yr
      1,400 SF

      Bourbonnais Office Suite - 1400 SF

      Prime Bourbonnais Office Space, High Traffic Location
      1511 Convent St, Bourbonnais, IL 60914
      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.
    1512 Convent St
    Bourbonnais, IL 60914-2184
    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.