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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Residential income homes
20857 Cicero Ave Matteson, IL 60443-1664
Individually Owned
8-yr Hold
Free & Clear
Property ID
US28-1551389
Property summary
AI-generated overview
This exceptional 10,000 square foot retail property, situated on a prime 1.39-acre lot in Matteson, Illinois, presents a compelling redevelopment opportunity. Located at 20857 S Cicero Ave, zip code 60443, in Cook County, this C-4 Commercial Highway zoned property offers significant potential for a variety of uses. The asking price is $699,000, translating to $69.90 per square foot. The existing building features a full basement, and pre-existing plans are in place for a full-service restaurant/bar concept, making it ideal for a food and beverage establishment. However, the versatile layout and substantial lot size allow for a wide range of redevelopment possibilities, catering to various retail or commercial ventures. The property benefits from its location within a strong retail area. The current owner is a non-profit organization. Prospective buyers are advised to conduct thorough due diligence regarding real estate taxes. This is a truly unique opportunity to acquire a significant piece of commercial real estate in a thriving location.
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,000 SF
Lot
0.46 ac (20,250 SF)
APN
31-22-102-007
UPID
US28-1551389
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$993k
Blend (final)
Blend
$1.06M
Owner & transaction history
Joseph Assignment Global Initi · 8 yrs held
Joseph Assignment Global Initi
since 2017
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Matteson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Matteson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,660,000
Current use
RETAIL STORES
$1,490,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$1,335,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$106 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$16,613
Tax year 2022
Assessed value
$30,622
Assessed 2022
Previous assessed
$30,622
+0.0% YoY
Effective rate
54.25%
On assessed value
Assessed land
$2,025
Assessed improvement
$28,597
Land market value
$20,250
Improvement market value
$285,970
Total market value
$306,220
Applied tax rate
32,041.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
2
Bathrooms
4
Total area
10,000 SF
Lot
0.46 ac (20,250 SF)
APN
31-22-102-007
UPID
US28-1551389
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.7M
RETAIL STORES
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
2
Bathrooms
4
Lot
0.46 ac
Current owner
From public records · entity-resolved
Joseph Assignment Global Initi
Individual
Free & Clear · 8 yrs held
Mailing address
25 CENTRAL AVE, MATTESON, IL 60443-1142
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2017
—
Joseph Assignment Global Initi
Trust 16071
Grant Deed
related
—
Nov 20, 1998
—
Standard Bank & Trust Co Ttee
Greatbanc Trust Co Ttee
Grant Deed
related
—
—
—
Standard Bank & Trust Co
—
Deed Of Trust
related
$434,000 · Standard Bank & Trust
—
—
Greatbanc Trust Company Ttee
—
Deed Of Trust
related
$469,307 · Harris Bank Frankfort
—
—
Trust 16071
—
Loan Modification
related
$400,000 · Standard Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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