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    15201 S Cicero Ave Oak Forest, IL 60452
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    15201 S Cicero Ave Oak Forest, IL 60452

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    • Commercial land
    For Lease
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    Cicero Avenue Commercial Land Available For Lease
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    Cicero Avenue Commercial Land Available

    Commercial land for ground lease or build-to-suit on Cicero.

    15201 S Cicero Ave, Oak Forest, IL 60452
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    Property ID
    US28-5668790
    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

    • Commercial land

    Property Details for 15201 S Cicero Ave

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Street level commercial land on busy Cicero Avenue available for ground lease or build-to-suit. Hard corner parcel with excellent visibility, directly at PACE bus stop. Proposed drive-thru building 1,950 - 2,240 SF. One block from heavy trade intersection at 147th Street featuring Walgreens, Dunkin', Subway, Dollar General, and Thorntons. Densely surrounded by residential neighborhoods. A few short blocks from Metra Train Station and Oak Forest High School.

    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
    Oak Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.7365539
    Latitude
    41.6159304

    Comparable in this City

    • Contact for pricing

      Land for Lease in Oak Forest

      Prime corner lot available for lease in Oak Forest, IL.
      5550 159Th St, Oak Forest, IL 60452
      View Details
    • $30 SF/Yr
      2,109 SF

      Retail Space on Cicero Avenue

      Retail space with high exposure near transportation and amenities.
      4800 157Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Prime Retail Space in Oak Forest

      Retail spaces available in high-traffic Oak Forest shopping center.
      4142 W 167Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Versatile Building Ideal for Non-Profit

      10,000 SF building on 2 acres, perfect for non-profit.
      5333 151St St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Oak Forest Retail Complex

      Spacious retail complex in Oak Forest, customizable suites available.
      5544 147Th St, Oak Forest, IL 60452
      View Details
    • $18 SF/Yr

      Holistic Medical Suites Available

      Wellness-centered property with flexible, move-in-ready private suites.
      15000 Cicero Ave, Oak Forest, IL 60452
      View Details

    Similar Nearby for Sale

    • $550,000

      Cicero Avenue Commercial Land Available

      0.92 acre commercial land with utilities and frontage.
      16240 S Cicero Ave, Oak Forest, IL 60452
      View Details
    • $390,000

      High-Visibility Site on 159th Street

      Prime development opportunity with strong demographics and high traffic.
      5310 W 159Th St, Oak Forest, IL 60452
      View Details
    • $49,999

      Commercial Lot on Cicero Avenue

      High-traffic commercial lot with utilities in place.
      14901 S Cicero Ave, Oak Forest, IL 60452
      View Details
    • $580,000

      Cicero Avenue Commercial Land Available

      Commercial land with high-traffic frontage on Cicero Avenue.
      15200 S Cicero Ave, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Land Near Metra Station

      Commercial land for sale near transportation and retail.
      4815 W 159Th St, Oak Forest, IL 60452
      View Details
    • $550,000

      Cicero Avenue Development Opportunity

      Prime development site on Cicero Ave with high traffic counts.
      16224 Cicero Ave, Oak Forest, IL 60452
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease in Oak Forest

      Prime corner lot available for lease in Oak Forest, IL.
      5550 159Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Oak Forest Commercial Property For Rent

      High-visibility commercial property with strong tenant mix in Oak Forest.
      15510 S Cicero Ave, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Prime Retail Space in Oak Forest

      Retail spaces available in high-traffic Oak Forest shopping center.
      4142 W 167Th St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Versatile Building Ideal for Non-Profit

      10,000 SF building on 2 acres, perfect for non-profit.
      5333 151St St, Oak Forest, IL 60452
      View Details
    • Contact for pricing

      Oak Forest Retail Complex

      Spacious retail complex in Oak Forest, customizable suites available.
      5544 147Th St, Oak Forest, IL 60452
      View Details
    • $18 SF/Yr

      Holistic Medical Suites Available

      Wellness-centered property with flexible, move-in-ready private suites.
      15000 Cicero Ave, Oak Forest, IL 60452
      View Details
    View Listing
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    15201 S Cicero Ave
    Oak Forest, IL 60452
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    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
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