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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2124 Tripp Ave Chicago, IL 60639-5286

    • Residential income homes
    • 2,076 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    9.2%
    Residential income homes
    Location Intelligence
    Property ID
    US28-3144042
    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

    • Residential income homes

    Property Details for 2124 Tripp Ave

    Year built
    1908
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    2,076 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    13-34-219-036
    APU
    1334219036

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $585,000
      6.5%
      $540,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $556,000
      Market price range: $297k - $557k
      AI Estimate
      $397,000
      Market price range: $291k - $398k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $420,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $495,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7331
    Latitude
    41.9197
    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
    $7,224
    $9,378
    $25,625
    $35,003
    -
    $93,780
    $256,250
    $350,030

    Comparable in this City

    • Value Estimation
      $385,000
      3,050 SF

      5517 Wn Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,050 SF
      5517 Wn Ave, Chicago, IL 60639-4207
      View Details
    • Value Estimation
      $410,000
      9,143 SF

      5308 Wn Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 9,143 SF
      5308 Wn Ave, Chicago, IL 60639-4337
      View Details
    • Value Estimation
      $390,000
      2,403 SF

      1644 Luna Ave, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,403 SF
      1644 Luna Ave, Chicago, IL 60639-4206
      View Details
    • Value Estimation
      $425,000
      2,146 SF

      1724 Luna Ave, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,146 SF
      1724 Luna Ave, Chicago, IL 60639-4226
      View Details
    • Value Estimation
      $470,000
      2,292 SF

      2731 Mason Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,292 SF
      2731 Mason Ave, Chicago, IL 60639-1111
      View Details
    • Value Estimation
      $320,000
      1,260 SF

      4847 Homer St, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,260 SF
      4847 Homer St, Chicago, IL 60639-4623
      View Details

    Similar Nearby for Sale

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      Belmont Cragin 12-Unit Multifamily

      Updated 12-unit building; strong cash flow.
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      Hermosa Multifamily Investment Opportunity

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      Mixed-Use Building: Investment Opportunity

      Two-story mixed-use property with commercial space and residential unit.
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      Established Banquet Hall with Apartments

      Banquet hall with apartments for additional income in Chicago.
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      Established Banquet Hall with Apartments

      Banquet hall with apartments for additional income in Chicago.
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    • Contact for pricing

      Well-Maintained Brick 3-Unit Building

      Charming 3-unit building with finished basement near amenities.
      2453 N Tripp St, Chicago, IL 60639
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space with Secured Parking

      203,518 SF industrial space available with recent renovations and secured parking.
      2701 North Kildare Ave, Chicago, IL 60639
      View Details
    • $10 SF/Yr
      3,000 SF

      Industrial Units for Lease

      Industrial units available for lease, ranging from 2,000 to 100,000 SF.
      4006 W Belden St, Chicago, IL 60639
      View Details
    • $4 SF/Yr
      143,100 SF

      Chicago Warehouse Space For Lease

      Large warehouse space, multiple suites available.
      4850 Bloomingdale Ave, Chicago, IL 60639
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in Belmont Cragin

      Retail opportunity in high-density middle-class neighborhood anchored by national tenants.
      2620 N Narragansett Ave, Chicago, IL 60639
      View Details
    • $16 SF/Yr
      1,900 SF

      Retail Space on Grand Avenue

      Retail space available in Grand Plaza with high visibility.
      4435 W Grand Ave, Chicago, IL 60639
      View Details
    • $34 SF/Yr
      18,529 SF

      Logan Square Retail Opportunity

      Diversey Ave Storefront & Land
      4045 Diversey Ave, Chicago, IL 60639
      View Details
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    2124 Tripp Ave
    Chicago, IL 60639-5286
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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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