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

    2402 Erika Dr Broadview, IL 60155-4625

    • Residential income homes
    • 1,872 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    7.4%
    Residential income homes
    Location Intelligence
    Property ID
    US28-3193230
    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

    • Tito’s House / Apartment Building

    Property Details for 2402 Erika Dr

    Year built
    1922
    Construction
    FRAME
    Lot size
    0.33 lot acres
    Property size
    1,872 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    15-27-100-025
    APU
    1527100025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $375,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $286,000
      Market price range: $146k - $287k
      AI Estimate
      $236,000
      Market price range: $169k - $237k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $220,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $410,000
      Change: +86% Conversion: Difficult
      RETAIL STORES
      $280,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $250,000
      Change: +13% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $225,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Broadview
    County
    Cook
    State
    Illinois
    Longitude
    -87.8607
    Latitude
    41.8464
    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
    $7,988
    $8,640
    $15,621
    $24,261
    -
    $86,400
    $156,210
    $242,610

    Comparable in this City

    • Value Estimation
      $445,000
      3,616 SF

      1846 15th Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,616 SF
      1846 15th Ave, Broadview, IL 60155-2015
      View Details
    • Value Estimation
      $385,000
      2,856 SF

      6400 Cermak

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,856 SF
      6400 Cermak, Broadview, IL 60155
      View Details
    • Value Estimation
      $495,000
      3,679 SF

      1835 16th Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,679 SF
      1835 16th Ave, Broadview, IL 60155-2014
      View Details
    • Value Estimation
      $465,000
      5,936 SF

      1400 Roosevelt Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,936 SF
      1400 Roosevelt Rd, Broadview, IL 60155-4067
      View Details
    • Value Estimation
      $260,000
      1,008 SF

      1940 13th Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,008 SF
      1940 13th Ave, Broadview, IL 60155-3128
      View Details
    • Value Estimation
      $325,000
      4,060 SF

      1847 14th Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,060 SF
      1847 14th Ave, Broadview, IL 60155-3103
      View Details

    Similar Nearby for Sale

    • $2,950,000
      1.03 Acres

      Restaurant, Banquet, Apartments Opportunity

      Long-established restaurant, banquet facility with apartments on Cermak Road.
      9200 Cermak Rd, Broadview, IL 60155
      View Details
    • New
      $410,000
      Pending

      Renovated Multifamily Building in Broadview

      Turn-key, renovated multifamily property with immediate occupancy potential.
      1846 S 15Th Ave, Broadview, IL 60155
      View Details
    • $2,950,000
      1.03 Acres

      Established Restaurant & Banquet Facility

      Long-standing restaurant, banquet facility, and apartments on large lot.
      9200 Cermak Rd, Broadview, IL 60155
      View Details
    • $244,900
      0.09 Acres

      Broadview Two-Unit Residential Income Property

      Two-unit residential income property in Broadview, Illinois, ideal for investment.
      2100 S 14Th Ave, Broadview, IL 60155
      View Details
    • $550,000
      6,000 SF

      Broadview Restaurant Opportunity

      Prime Retail Space, $550,000
      17th 19Th St, Broadview, IL 60155
      View Details
    • $2,950,000
      12,000 SF

      Broadview Restaurant & Apartments

      Established Business, Huge Potential
      9200 Cermak Rd, Broadview, IL 60155
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,036 SF

      Broadview Retail Endcap Space

      High-traffic retail space available.
      2812 17Th Ave, Broadview, IL 60155
      View Details
    • $6 SF/Yr
      140,000 SF

      Broadview Industrial Space For Lease

      Versatile warehouse, office & cold storage.
      2000 25Th Ave, Broadview, IL 60155
      View Details
    • Contact for pricing
      37,254 SF

      Freestanding Industrial Facility For Lease

      37,254 SF facility with fenced storage and highway access.
      2400 S 27Th Ave, Broadview, IL 60155
      View Details
    • Contact for pricing
      26,422 SF

      Broadview Warehouse Space Available

      26,422 SF warehouse space for lease in Broadview, IL.
      2625 Gardner Rd, Broadview, IL 60155
      View Details
    • Contact for pricing
      1,452 SF

      Retail Endcap Unit Available

      Retail space available in Broadview, Illinois, with high visibility.
      4842 S 17Th Ave, Broadview, IL 60155
      View Details
    • Contact for pricing
      679,000 SF

      Broadview Retail Center - For Lease

      High-traffic retail space, multiple units available.
      102 Broadview Village Sq, Broadview, IL 60155
      View Details
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    2402 Erika Dr
    Broadview, IL 60155-4625
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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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