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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 60188-2165

    • Office buildings
    • 1,969 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    May 06, 2022
    $105,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1476904
    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

    • Office buildings

    Property Details for 23rd N Ave

    Year built
    1958
    Construction
    FRAME
    Lot size
    0.48 lot acres
    Property size
    1,969 SF
    Zone code
    R
    Property type
    Office buildings
    APN
    02-34-311-031
    APU
    234311031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carol Stream
    County
    Dupage
    State
    Illinois
    Longitude
    -88.086
    Latitude
    41.9033
    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
    $8,913
    $62,260
    $37,150
    $99,410
    -
    $186,780
    $111,450
    $298,230

    Comparable in this City

    • Value Estimation
      $1,490,000
      9,438 SF

      325 Fullerton Ave

      OFFICE BUILDING • 9,438 SF
      325 Fullerton Ave, Carol Stream, IL 60188-1865
      View Details
    • Value Estimation
      $3,470,000
      34,305 SF

      380 Schmale Rd

      OFFICE BUILDING • 34,305 SF
      380 Schmale Rd, Carol Stream, IL 60188-2791
      View Details
    • Value Estimation
      $1,240,000
      10,120 SF

      373 Schmale Rd

      OFFICE BUILDING • 10,120 SF
      373 Schmale Rd, Carol Stream, IL 60188-2774
      View Details
    • Value Estimation
      $510,000
      2,800 SF

      371 Main Pl

      OFFICE BUILDING • 2,800 SF
      371 Main Pl, Carol Stream, IL 60188-2427
      View Details
    • Value Estimation by Request
      0.69 Acres

      350 Schmale Rd

      OFFICE BUILDING • 0.69 Acres
      350 Schmale Rd, Carol Stream, IL 60188-2794
      View Details
    • Value Estimation
      $770,000
      6,189 SF

      245 Gary Ave

      OFFICE BUILDING • 6,189 SF
      245 Gary Ave, Carol Stream, IL 60188-2022
      View Details

    Similar Nearby for Sale

    • $435,000
      0.43 Acres

      Carol Stream Commercial Opportunity

      3,515 sq ft building on 0.43-acre lot, zoned B-3.
      565 E Saint Charles Rd, Carol Stream, IL 60188
      View Details
    • $1,100,000
      4.47 Acres

      Commercial Land in Carol Stream

      4.47 acre commercial lot ideal for warehouse or office development.
      27W130 Saint Charles Rd, Carol Stream, IL 60188
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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.
      250 S Gary Ave, Carol Stream, IL 60188
      View Details
    • $300,000

      Two-Story Townhouse with Fenced Backyard

      Bright 3-bedroom townhouse with updated kitchen and private backyard.
      1169 Robin Dr, Carol Stream, IL 60188
      View Details
    • $379,000

      Easton Park Townhouse with Upgrades

      Modern townhouse in Easton Park with new flooring and updated kitchen.
      156 Sype Dr, Carol Stream, IL 60188
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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
      1,174 SF

      Medical Office Space Available

      Medical office space for rent with high traffic exposure.
      501-525 Thornhill Dr, Carol Stream, IL 60188
      View Details
    • $11 SF/Yr
      25,200 SF

      Carol Stream Flex/Tech Space

      Flex/Tech space with air-conditioned warehouse in Du Page County.
      Carol Stream, IL 60188
      View Details
    • Contact for pricing
      29,577 SF

      Carol Stream Flex/Industrial Space

      Available flex/industrial space with retail exposure on St. Charles Road.
      130 E Saint Charles Rd, Carol Stream, IL 60188
      View Details
    • $11 SF/Yr
      19,578 SF

      Carol Stream Medical Office Space

      Prime Medical Office Suites Available in Carol Stream, IL
      640 St. Charles Rd, Carol Stream, IL 60188
      View Details
    • Contact for pricing
      439,421 SF

      Prologis Carol Stream: Premier Industrial Space

      Large Executive Office & Warehouse For Lease
      250 Gary Ave, Carol Stream, IL 60188
      View Details
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    23rd N Ave
    Carol Stream, IL 60188-2165
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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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