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

    246 Washington Ave La Grange, IL 60525-3282

    • Residential income homes
    • 2,044 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Jun 07, 2021
    $260,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0937227
    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

    • Residential income homes

    Property Details for 246 Washington Ave

    Year built
    1897
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    2,044 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    18-04-236-044
    APU
    1804236044

    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
    La Grange
    County
    Cook
    State
    Illinois
    Longitude
    -87.8613
    Latitude
    41.8127
    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
    $6,758
    $3,234
    $19,781
    $23,015
    -
    $32,340
    $197,810
    $230,150

    Comparable in this City

    • Value Estimation by Request
      2,576 SF

      1025 Hillgrove Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,576 SF
      1025 Hillgrove Ave, La Grange, IL 60525-5894
      View Details
    • Value Estimation by Request
      2,519 SF

      814 Arlington Ave, Unit G

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,519 SF
      814 Arlington Ave, La Grange, IL 60525-5878
      View Details
    • Value Estimation
      $1,830,000
      15,433 SF

      1025 55th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 15,433 SF
      1025 55th St, Countryside, IL 60525-6525
      View Details
    • Value Estimation by Request
      3,221 SF

      5435 Spg Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,221 SF
      5435 Spg Ave, Countryside, IL 60525-6604
      View Details
    • Value Estimation
      $640,000
      5,015 SF

      5020 Glencoe Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,015 SF
      5020 Glencoe Ave, Mc Cook, IL 60525-7805
      View Details
    • Value Estimation
      $705,000
      4,055 SF

      104 Burlington Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,055 SF
      104 Burlington Ave, La Grange, IL 60525-2377
      View Details

    Similar Nearby for Sale

    • $695,900
      2,974 SF

      Updated Duplex in Lyons Township

      Two-unit building in Lyons Township School District with modern updates.
      5348 6 Ave, Countryside, IL 60525
      View Details
    • $650,000

      La Grange Multifamily Opportunity

      Two standalone units on a large lot in La Grange Highlands.
      1009 61 St, La Grange Highlands, IL 60525
      View Details
    • $1,649,900
      14,500 SF

      Countryside Office Building

      18-unit multi-tenant office building
      6502 Joliet Rd, Countryside, IL 60525
      View Details
    • $40,000

      Land Parcel in La Grange

      Non-buildable land parcel suitable for outdoor enjoyment.
      225 Sawyer Ave, La Grange, IL 60525
      View Details
    • $829,000
      6,910 SF

      La Grange Office Building Investment

      Fully Leased, High-Exposure Office Property
      130 Ln Grange Rd, La Grange, IL 60525
      View Details
    • Contact for pricing
      7,000 SF

      McCook Industrial Property For Sale

      7,000 SF Warehouse/Flex Space in McCook, IL
      8765 Joliet Rd, McCook, IL 60525
      View Details

    Similar Nearby for Lease

    • $1,550 /Mo

      Updated Apartment in Brick Building

      Clean, updated apartment with parking and storage in great location.
      9907 W 58 St, Countryside, IL 60525
      View Details
    • Contact for pricing

      Countryside Commercial Space For Rent

      First floor commercial space with great exposure on busy street.
      6502 Joliet Rd, Countryside, IL 60525
      View Details
    • Contact for pricing
      32,596 SF

      Hodgkins Industrial Flex Space

      Modern 32,596 SF flex space, ideal for logistics.
      6800 Riv Rd, Hodgkins, IL 60525
      View Details
    • Contact for pricing
      42,100 SF

      McCook Warehouse End-Cap Unit

      Class A warehouse with high visibility and flexible loading options.
      9200 West 55 St, Mc Cook, IL 60525
      View Details
    • $35 SF/Yr
      2,600 SF

      Prime Restaurant Space in LaGrange

      Restaurant space in downtown La Grange near Metra station.
      La Grange, IL 60525
      View Details
    • $21 SF/Yr

      Downtown La Grange Loft Space

      Loft space in the heart of Downtown La Grange.
      5 S Ln Grange Rd, La Grange, IL 60525
      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.
    246 Washington Ave
    La Grange, IL 60525-3282
    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.