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

    1662 Hollywood Ave Chicago, IL 60660-4013

    • Residential income homes
    • 3,040 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jul 29, 2022
    $725,000
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    6.1%
    Residential income homes
    Location Intelligence
    Property ID
    US28-2604037
    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

    • Claim Relief, Inc. / Insurance Agency

    Property Details for 1662 Hollywood Ave

    Year built
    1933
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    3,040 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    14-06-409-031
    APU
    1406409031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $830,000
      ML approach
      $835,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $845,000
      6.5%
      $780,000
      7%
      $725,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $699,000
      Market price range: $565k - $898k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $725,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $725,000
      Change: +0% Conversion: Difficult
      RETAIL STORES
      $630,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6723
    Latitude
    41.9853
    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
    $10,896
    $21,800
    $34,595
    $56,395
    -
    $218,000
    $345,950
    $563,950

    Comparable in this City

    • Value Estimation
      $790,000
      4,860 SF

      1460 Olive Ave, Unit 1FL

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,860 SF
      1460 Olive Ave, Chicago, IL 60660-4452
      View Details
    • Value Estimation
      $620,000
      3,318 SF

      6220 Paulina St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,318 SF
      6220 Paulina St, Chicago, IL 60660-1119
      View Details
    • Value Estimation
      $545,000
      2,934 SF

      1265 Norwood St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,934 SF
      1265 Norwood St, Chicago, IL 60660-2518
      View Details
    • Value Estimation
      $560,000
      2,614 SF

      1449 Olive Ave, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,614 SF
      1449 Olive Ave, Chicago, IL 60660-4228
      View Details
    • Value Estimation
      $560,000
      2,712 SF

      1507 Olive Ave, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,712 SF
      1507 Olive Ave, Chicago, IL 60660-4230
      View Details
    • Value Estimation
      $790,000
      5,034 SF

      5858 Magnolia Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,034 SF
      5858 Magnolia Ave, Chicago, IL 60660-5481
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Condo with Lake View

      Two-bedroom condo with lake views, near the beach.
      5740 N Sheridan Rd, Chicago, IL 60660
      View Details
    • $959,000

      Chicago Residential Income Property

      Two apartments with garden and in-law units, great investment potential.
      1656 W Hollywood Ave, Chicago, IL 60660
      View Details
    • Contact for pricing

      Spacious Condo in Edgewater

      Light-filled condo with investment potential in prime Edgewater location.
      6030 N Sheridan Rd, Chicago, IL 60660
      View Details
    • $1,150,000

      Edgewater Multifamily Investment Opportunity

      Renovated three-unit building near Loyola University and Lake Michigan.
      1455 W Highland Ave, Chicago, IL 60660
      View Details
    • $899,900

      Edgewater Glen Greystone Two-Flat

      Renovated Chicago two-flat with income potential in prime location.
      6328 N Magnolia Ave, Chicago, IL 60660
      View Details
    • Contact for pricing
      22,000 SF

      Single Tenant Net Lease Investment

      Long-term net lease with rental increases in a high-traffic area.
      6101 N Broadway St, Chicago, IL 60660
      View Details

    Similar Nearby for Lease

    • $1,850 /Mo

      Lake View Condo with Balcony

      One bedroom condo with lake views, balcony, and amenities.
      6007 N Sheridan Rd, Chicago, IL 60660
      View Details
    • Contact for pricing

      Edgewater 2-Bedroom Condo For Rent

      Spacious 2-bedroom condo in vibrant Edgewater neighborhood.
      6238 N Broadway St, Chicago, IL 60660
      View Details
    • Contact for pricing
      900 SF

      Edgewater Beach High-Floor Apartment

      Spacious 2-bedroom apartment with north view, near shops and restaurants.
      6118 N Sheridan Rd, Chicago, IL 60660
      View Details
    • Contact for pricing

      Edgewater Apartment with Lake Views

      2-bedroom, 2-bath apartment in vibrant Edgewater neighborhood with amenities.
      6325 N Sheridan Rd, Chicago, IL 60660
      View Details
    • $35 SF/Yr

      Andersonville Retail Space For Lease

      Retail spaces available in renovated mixed-use building in vibrant Andersonville.
      5632-52 N Clark St, Chicago, IL 60660
      View Details
    • Contact for pricing
      4,875 SF

      Retail Space Near CTA Red Line

      Retail space with black iron and parking near CTA.
      1122-1126 W Bryn Mawr Ave, Chicago, IL 60660
      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.
    1662 Hollywood Ave
    Chicago, IL 60660-4013
    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.