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    Property profile & analytics

    240 Ave Elmhurst, IL 60126-2543

    • Office buildings
    • 2,112 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2024
    $440,000
    Value Estimations
    $450,000
    Show details
    Cap Rate Potential
    7.1%
    Office buildings
    Location Intelligence
    Property ID
    US28-0783715
    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 240 Ave

    Year built
    1978
    Lot size
    0.31 lot acres
    Property size
    2,112 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    06-03-206-013
    APU
    603206013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $440,000
      ML approach
      $440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $680,000
      6.5%
      $625,000
      7%
      $580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $544,000
      Market price range: $247k - $544k
      AI Estimate
      $346,000
      Market price range: $157k - $374k

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    Dupage
    State
    Illinois
    Longitude
    -87.9595
    Latitude
    41.9042
    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
    $8,482
    $38,030
    $101,690
    $139,720
    -
    $114,090
    $305,070
    $419,160

    Comparable in this City

    • Value Estimation
      $320,000
      3,750 SF

      115 Adelaide St

      OFFICE BUILDING • 3,750 SF
      115 Adelaide St, Elmhurst, IL 60126-3398
      View Details
    • Value Estimation
      $495,000
      16,716 SF

      112 York St

      OFFICE BUILDING • 16,716 SF
      112 York St, Elmhurst, IL 60126-3451
      View Details
    • Value Estimation
      $395,000
      11,845 SF

      257 Ave

      OFFICE BUILDING • 11,845 SF
      257 Ave, Elmhurst, IL 60126-2529
      View Details
    • Value Estimation
      $250,000
      0.16 Acres

      105 Maple Ave

      OFFICE BUILDING • 0.16 Acres
      105 Maple Ave, Elmhurst, IL 60126-2658
      View Details
    • Value Estimation
      $275,000
      1,237 SF

      475 Spg Rd

      OFFICE BUILDING • 1,237 SF
      475 Spg Rd, Elmhurst, IL 60126-3857
      View Details
    • Value Estimation
      $300,000
      3,927 SF

      340 Butterfield Rd

      OFFICE BUILDING • 3,927 SF
      340 Butterfield Rd, Elmhurst, IL 60126-5069
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,378 SF

      Modern Office Building For Sale

      Well-maintained office building with high traffic and modern construction.
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      8,080 SF

      Elmhurst Commercial Building For Sale

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      DuPage Medical Professional Office For Sale

      DuPage Medical Professional Office For Sale
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    • $800,000
      0.19 Acres

      Elmhurst Professional/Medical Office Space

      Improved office space in high-traffic, high-visibility Downtown Elmhurst.
      277 N York St, Elmhurst, IL 60126
      View Details
    • $525,000
      3,927 SF

      Elmhurst Creative Office Space

      3,927 SF Vacant Creative Office
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    • $795,000
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      Elmhurst Medical Office For Sale

      2,291 SF medical office building in desirable Elmhurst location.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      22,600 SF

      Elmhurst Office Building For Rent

      22,600 SF office building on 3.44 acres available for rent.
      505 W Grand Ave, Elmhurst, IL 60126
      View Details
    • Contact for pricing
      Pending

      Elmhurst Commercial Building For Rent

      Commercial building with offices, conference rooms, and parking near CBD.
      351 N York Rd, Elmhurst, IL 60126
      View Details
    • $12 SF/Yr
      26,562 SF

      Elmhurst Office Building For Lease

      Prime Elmhurst office space, flexible suites.
      533 North Ave, Elmhurst, IL 60126
      View Details
    • Contact for pricing
      5,320 SF

      Move-in Ready Elmhurst Office Space

      Office space for lease in Elmhurst with modern buildout.
      134 N York St, Elmhurst, IL 60126
      View Details
    • Contact for pricing

      Executive Office Suite in Elmhurst

      Professional office suite with modern finishes and convenient location.
      257 N West Ave, Elmhurst, IL 60126
      View Details
    • $18 SF/Yr
      74,000 SF

      York Center Plaza: Elmhurst Retail Space

      74,000 SF Flex Space, I-290 Access
      559 York St, Elmhurst, IL 60126
      View Details
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    240 Ave
    Elmhurst, IL 60126-2543
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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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