Add Listing
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

    2717 Galilee Ave Zion, IL 60099-2497

    • Residential income homes
    • 3,840 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Dec 26, 2023
    $320,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0065849
    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 2717 Galilee Ave

    Year built
    1958
    Construction
    FRAME
    Lot size
    0.15 lot acres
    Property size
    3,840 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    04-21-309-003
    APU
    421309003

    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
    Zion
    County
    Lake
    State
    Illinois
    Longitude
    -87.8446
    Latitude
    42.4458
    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
    $8,410
    $6,854
    $50,048
    $56,902
    -
    $20,564
    $150,159
    $170,723

    Comparable in this City

    • Value Estimation
      $765,000
      6,612 SF

      1736 21st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,612 SF
      1736 21st St, Zion, IL 60099-1700
      View Details
    • Value Estimation
      $505,000
      5,376 SF

      2105 Elisha Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,376 SF
      2105 Elisha Ave, Zion, IL 60099-2365
      View Details
    • Value Estimation by Request
      5,916 SF

      2111 Elisha Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,916 SF
      2111 Elisha Ave, Zion, IL 60099-2378
      View Details
    • Value Estimation by Request
      5,712 SF

      2117 Elisha Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,712 SF
      2117 Elisha Ave, Zion, IL 60099-2377
      View Details
    • Value Estimation by Request
      5,696 SF

      1720 Joppa Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,696 SF
      1720 Joppa Ave, Zion, IL 60099-1579
      View Details
    • Value Estimation by Request
      5,376 SF

      1508 21st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,376 SF
      1508 21st St, Zion, IL 60099-2364
      View Details

    Similar Nearby for Sale

    • $285,000
      0.20 Acres

      Well-Maintained Two-Unit Residential Property

      Two-unit residential property perfect for owner-occupants and investors.
      3113 Galilee Ave, Zion, IL 60099
      View Details
    • New
      $414,900
      0.67 Acres

      Two Homes, One Property

      Two separate homes on a .67 acre lot.
      11471 W Leland Ave, Beach Park, IL 60099
      View Details
    • $269,000

      Zion Ranch Duplex with Garage

      Two-unit ranch with garage and separate utilities in Zion.
      1828-1826 Horeb Ave, Zion, IL 60099
      View Details
    • Contact for pricing

      Two Homes on Large Lot

      Two homes on one property with income potential.
      11471 W Leland Ave, Beach Park, IL 60099
      View Details
    • $399,999
      0.34 Acres

      Zion Investment Property For Sale

      Turn-key investment property with full occupancy near downtown Zion.
      2103 Galilee Ave, Zion, IL 60099
      View Details
    • Contact for pricing

      Wadsworth Road Redevelopment Opportunity

      Property suitable for reuse or redevelopment in Beach Park, IL.
      11411-1143 W Wadsworth Rd, Beach Park, IL 60099
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,606 SF

      Retail, Medical, and Office Space

      Retail, medical, and office spaces available for lease.
      2723 Sheridan Rd, Zion, IL 60099
      View Details
    • Contact for pricing

      Retail Space in Zion, IL

      Retail space near Illinois Beach State Park and Zion Town Center.
      3242 Sheridan Rd, Zion, IL 60099
      View Details
    • Contact for pricing

      New Retail Center in Zion

      New retail center with spaces available in 2025.
      2001 Sheridan Rd, Zion, IL 60099
      View Details
    • Contact for pricing

      Zion Professional Building Office Space

      Office spaces available in Zion, utilities included.
      3115 Lewis Ave, Zion, IL 60099
      View Details
    • Contact for pricing

      Retail Space on Sheridan Road

      Freestanding retail space in high-traffic area, drive-thru potential.
      3325 Sheridan Rd, Zion, IL 60099
      View Details
    • Contact for pricing
      1,835 SF

      Retail Space on Sheridan Road

      Freestanding retail building with high traffic and parking.
      3325 Sheridan Rd, Zion, IL 60099
      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.
    2717 Galilee Ave
    Zion, IL 60099-2497
    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.
    Sign Up Successful!
    You now have access to more from Realmo!