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

    221 Erick St Crystal Lake, IL 60014-4594

    • Industrial properties
    • 30,240 SF
    • 4.00 lot acres
    OFF-MARKET
    Last Sale
    Jul 10, 2020
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1918268
    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

    • Industrial properties

    Property Details for 221 Erick St

    Year built
    1995
    Lot size
    4.00 lot acres
    Property size
    30,240 SF
    Property type
    Industrial properties
    APN
    14-33-401-006
    APU
    1433401006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $790,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    Mchenry
    State
    Illinois
    Longitude
    -88.3049
    Latitude
    42.2473
    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
    $45,677
    $115,438
    $410,981
    $526,419
    -
    $346,314
    $1,232,943
    $1,579,257

    Comparable in this City

    • Value Estimation
      $310,000
      1.33 Acres

      1135 Mitchell Ct

      INDUSTRIAL (GENERAL) • 1.33 Acres
      1135 Mitchell Ct, Crystal Lake, IL 60014-1723
      View Details
    • Value Estimation
      $295,000
      36.99 Acres

      6805 Nimco Dr

      INDUSTRIAL (GENERAL) • 36.99 Acres
      6805 Nimco Dr, Crystal Lake, IL 60014-1735
      View Details
    • Value Estimation
      $280,000
      0.46 Acres

      80th Official Rd

      INDUSTRIAL (GENERAL) • 0.46 Acres
      80th Official Rd, Crystal Lake, IL 60014
      View Details
    • Value Estimation
      $275,000
      0.38 Acres

      Official Rd

      INDUSTRIAL (GENERAL) • 0.38 Acres
      Official Rd, Crystal Lake, IL 60014
      View Details
    • Value Estimation
      $285,000
      1.88 Acres

      Crystal Lake, IL 60014

      INDUSTRIAL (GENERAL) • 1.88 Acres
      Crystal Lake, IL 60014
      View Details
    • Value Estimation
      $335,000
      3,584 SF

      69 Crystal Lk Ave

      INDUSTRIAL (GENERAL) • 3,584 SF
      69 Crystal Lk Ave, Crystal Lake, IL 60014-6136
      View Details

    Similar Nearby for Sale

    • $379,000
      3.00 Acres

      Crystal Lake Commercial Land

      Prime 3.75-acre development site.
      5413 Terra Cotta Ave, Crystal Lake, IL 60014
      View Details
    • $1,910,000
      8.78 Acres

      Crystal Lake Industrial Land Site

      8.78 Acres, Build-to-Suit Potential
      255 Exchange Dr, Crystal Lake, IL 60014
      View Details
    • New
      $489,900
      3,569 SF

      Crystal Lake Industrial Condo For Sale

      3,569 SF industrial condo with road frontage and visibility.
      1120 Mitchell Ct, Crystal Lake, IL 60014
      View Details
    • $665,000
      10,570 SF

      Crystal Lake Freestanding Industrial Building

      10,570 SF industrial building with high ceilings and docks.
      6126 Factory Rd, Bull Valley, IL 60014
      View Details
    • Contact for pricing
      1.10 Acres

      Crystal Lake Car Wash Opportunity

      Prime 1-acre car wash site, high traffic
      1501 Carlemont Dr, Crystal Lake, IL 60014
      View Details
    • Contact for pricing
      2,938 SF

      Crystal Lake QSR Redevelopment

      0.77-acre vacant lot, 2938 SF building.
      6116 Northwest Hwy, Crystal Lake, IL 60014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Crystal Lake Industrial Land for Sale

      2.5 Acres, Ideal for Storage
      1450 Virginia Rd, Crystal Lake, IL 60014
      View Details
    • $18 SF/Yr
      16,592 SF

      Randall Road Retail Spaces

      High-traffic retail spaces available.
      1295 Randall Rd, Crystal Lake, IL 60014
      View Details
    • $16 SF/Yr
      35,614 SF

      Prime Crystal Lake Office Space

      Class A Office, Flexible Suites, Modern Amenities
      150 Dartmoor Dr, Crystal Lake, IL 60014
      View Details
    • $12 SF/Yr
      7,000 SF

      Crystal Lake Retail/Office Space

      Prime 3,140 SF End Unit Available
      829 Virginia Rd, Crystal Lake, IL 60014
      View Details
    • $5 SF/Yr
      10,300 SF

      Crystal Lake Office Space Available

      Prime Office/Storage Units in Crystal Lake, IL
      145 Virginia St, Crystal Lake, IL 60014
      View Details
    • Contact for pricing
      17,873 SF

      Crystal Lake Commercial Land For Lease

      Prime 1-acre commercial lot in Crystal Lake, IL
      1501 Carlemont Dr, Crystal Lake, IL 60014
      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.
    221 Erick St
    Crystal Lake, IL 60014-4594
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.