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

    23rd N Ave Carol Stream, IL 60188-2153

    • Commercial real estate
    • 5,697 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1480636
    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

    • Commercial real estate

    Property Details for 23rd N Ave

    Year built
    1956
    Construction
    MIXED
    Lot size
    0.46 lot acres
    Property size
    5,697 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    02-34-311-034
    APU
    234311034

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $697,000
      Market price range: $697k - $1.86M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,165,000
      Current use
      OFFICE BUILDING
      $1,020,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Carol Stream
    County
    Dupage
    State
    Illinois
    Longitude
    -88.083
    Latitude
    41.9034
    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
    $12,021
    $57,330
    $76,750
    $134,080
    -
    $171,990
    $230,250
    $402,240

    Comparable in this City

    • Value Estimation by Request
      1.90 Acres

      1271 County Farm Rd

      COMMERCIAL (GENERAL) • 1.90 Acres
      1271 County Farm Rd, Carol Stream, IL 60188-4726
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    • Value Estimation
      $535,000
      4,200 SF

      289 Gary Ave

      COMMERCIAL (GENERAL) • 4,200 SF
      289 Gary Ave, Carol Stream, IL 60188-2006
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    • Value Estimation by Request
      5,230 SF

      25th Geneva Rd

      COMMERCIAL (GENERAL) • 5,230 SF
      25th Geneva Rd, Carol Stream, IL 60188-2328
      View Details
    • Value Estimation
      $620,000
      2,808 SF

      27th Saint Charles Rd

      COMMERCIAL (GENERAL) • 2,808 SF
      27th Saint Charles Rd, Carol Stream, IL 60188-1935
      View Details
    • Value Estimation
      $1,505,000
      7,616 SF

      500 Schmale Rd

      COMMERCIAL (GENERAL) • 7,616 SF
      500 Schmale Rd, Carol Stream, IL 60188-2419
      View Details
    • Value Estimation
      $1,570,000
      10,067 SF

      545 En Ave

      COMMERCIAL (GENERAL) • 10,067 SF
      545 En Ave, Carol Stream, IL 60188-2124
      View Details

    Similar Nearby for Sale

    • $1,750,000
      4.20 Acres

      Prime Carol Stream Commercial Land

      4.2 Acres, B-3 Zoning, $1.75M
      0 Nec Gary Ave & Lies Rd, Carol Stream, IL 60188
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    • $849,900
      5.16 Acres

      Prime Carol Stream Commercial Land

      5.16 Acres, High Traffic Area
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    • $1,750,000
      4 SF

      4.20 Acre Development Opportunity

      Development opportunity with B-3 zoning in Carol Stream's Business Park.
      Nec Gary Ave And Lies Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      439,421 SF

      439,421 SF Available Building

      Available building with office, warehouse, dock doors, and parking.
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    • $89,900
      0.10 Acres

      Commercial Land on Fountain Road

      Commercial land available in a high-traffic Carol Stream location.
      Fountain Dr, Carol Stream, IL 60188
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    • $209,500

      Renovated Condo in Carol Stream

      Tastefully renovated two-bedroom condo near Ross Ferraro Town Center.
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    Similar Nearby for Lease

    • $13 SF/Yr
      150 SF

      Renovated Office Space For Rent

      Highly accessible, newly renovated office and medical space available for rent.
      640 E Saint Charles Rd, Carol Stream, IL 60188
      View Details
    • $12 SF/Yr
      2,675 SF

      Retail Space with Natural Light

      2,675 SF retail space featuring floor-to-ceiling windows.
      161 S Schmale Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      3,021 SF

      Retail Space in High-Traffic Center

      Retail space in a heavily-trafficked Carol Stream shopping center.
      1021 Fountain View Dr, Carol Stream, IL 60188
      View Details
    • $9 SF/Yr
      7,000 SF

      High-Quality Flex Space Available

      Well-maintained flex property with upgraded features for lease.
      250-270 Tubeway Dr, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      299,080 SF

      Food Grade Warehouse Space

      299,080 SF food grade warehouse with rail access.
      284 E Lies Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      10,000 SF

      Carol Stream Flex Industrial Space

      Flexible industrial units with dock and drive-in door access.
      376 Gundersen Dr, Carol Stream, IL 60188
      View Details
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    23rd N Ave
    Carol Stream, IL 60188-2153
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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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