Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    231st N Eola Rd Aurora, IL 60502-9603

    • Manufacturing properties
    • 29,440 SF
    • 1.69 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2020
    $35,000
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2362200
    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

    • Manufacturing properties

    Property Details for 231st N Eola Rd

    Year built
    1982
    Lot size
    1.69 lot acres
    Property size
    29,440 SF
    Zone code
    C
    Property type
    Manufacturing properties
    APN
    07-08-103-016
    APU
    708103016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Aurora
    County
    Dupage
    State
    Illinois
    Longitude
    -88.2399
    Latitude
    41.7959
    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
    2023
    $44,852
    $125,090
    $455,410
    $580,500
    -
    $375,270
    $1,366,230
    $1,741,500

    Comparable in this City

    • Value Estimation
      $865,000
      74,134 SF

      2375 Liberty St

      MANUFACTURING (LIGHT) • 74,134 SF
      2375 Liberty St, Aurora, IL 60502-9440
      View Details
    • Value Estimation
      $230,000
      0.26 Acres

      2801 Beverly Dr

      INDUSTRIAL (GENERAL) • 0.26 Acres
      2801 Beverly Dr, Aurora, IL 60502-9763
      View Details
    • Value Estimation by Request

      900 Bilter Rd

      INDUSTRIAL (GENERAL)
      900 Bilter Rd, Aurora, IL 60502-4731
      View Details
    • Value Estimation
      $315,000
      6.97 Acres

      2435 Church Rd

      INDUSTRIAL (GENERAL) • 6.97 Acres
      2435 Church Rd, Aurora, IL 60502-9724
      View Details
    • Value Estimation
      $225,000
      2.85 Acres

      Aurora, IL 60502

      INDUSTRIAL (GENERAL) • 2.85 Acres
      Aurora, IL 60502
      View Details
    • Value Estimation by Request

      Aurora, IL 60502

      INDUSTRIAL (GENERAL)
      Aurora, IL 60502
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      58,236 SF

      Aurora Multi-Tenant Industrial Facility

      58,236 SF multi-tenant facility with flexible sizes and ample parking.
      657 Wolverine Dr, Aurora, IL 60502
      View Details
    • $4,500,000
      13.50 Acres

      Aurora Commercial Land - 13.5 Acres

      Prime Aurora commercial land, high traffic, I-88 access
      1295 Butterfield Rd, Aurora, IL 60502
      View Details
    • Contact for pricing
      4,320 SF

      Aurora Industrial Condo Unit

      Industrial condo with small office and high ceilings.
      2760 Beverly Dr, Aurora, IL 60502
      View Details
    • $1,650,000
      5.34 Acres

      Aurora Residential Land - 5.34 Acres

      Prime Aurora land, redevelopment opportunity.
      2555 New York St, Aurora, IL 60502
      View Details
    • $2,948,136

      8.46 Acre Lot For Sale

      8.46 acre lot available on Mitchell Rd, Aurora, IL.
      2355 Mitchell Rd, Aurora, IL 60502
      View Details
    • Contact for pricing
      1.56 Acres

      Aurora Car Wash Business for Sale

      High-volume, luxury car wash with strong financials.
      2903 Kirk Rd, Aurora, IL 60502
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      100,000 SF

      Aurora Industrial Property for Rent

      100,000 square foot industrial space available for lease.
      2580 Prospect Ct, Aurora, IL 60502
      View Details
    • Contact for pricing
      50,000 SF

      Aurora Warehouse Space Available

      51870 SF warehouse space for lease in Aurora, IL.
      2290 White Oak Cir, Aurora, IL 60502
      View Details
    • Contact for pricing
      29,969 SF

      Aurora Industrial Facility For Rent

      29,969 SF industrial facility in Aurora, Illinois available for lease.
      3557 Butterfield Rd, Aurora, IL 60502
      View Details
    • Contact for pricing
      15,449 SF

      Aurora Warehouse Available October 2025

      15,449 square foot warehouse space available for rent.
      2280 White Oak Cir, Aurora, IL 60502
      View Details
    • Contact for pricing
      316,200 SF

      Aurora Industrial Cross Dock Facility

      316,200 SF cross-dock facility in established business park.
      901-997 Bilter Rd, Aurora, IL 60502
      View Details
    • Contact for pricing
      12,679 SF

      Aurora Infill IOS Site Sublease

      16-acre infill site with maintenance facility for sublease.
      3401 Liberty St, Aurora, IL 60502
      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.
    231st N Eola Rd
    Aurora, IL 60502-9603
    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.