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

    2830 Chicago Rd South Chicago Heights, IL 60411-5489

    • Residential income homes
    • 3,620 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Oct 04, 2024
    $190,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2522410
    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

    • ACG Homes & Remodeling / Snow Removal / Construction Company
    • Shai Customs Inc / Interior Design / Home Decor Store

    Property Details for 2830 Chicago Rd

    Year built
    1953
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.12 lot acres
    Property size
    3,620 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    32-29-423-018
    APU
    3229423018

    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
    South Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.6389
    Latitude
    41.4869
    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
    $9,241
    $1,515
    $18,445
    $19,960
    -
    $15,150
    $184,450
    $199,600

    Comparable in this City

    • Value Estimation by Request
      2,112 SF

      214 21st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,112 SF
      214 21st St, Chicago Heights, IL 60411-4225
      View Details
    • Value Estimation by Request
      1,530 SF

      246 21st St, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,530 SF
      246 21st St, Chicago Heights, IL 60411-4225
      View Details
    • Value Estimation by Request
      7,056 SF

      164 22nd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,056 SF
      164 22nd St, Chicago Heights, IL 60411-4227
      View Details
    • Value Estimation by Request
      1,680 SF

      231 22nd St, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,680 SF
      231 22nd St, Chicago Heights, IL 60411-4228
      View Details
    • Value Estimation by Request
      1,760 SF

      181 23rd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,760 SF
      181 23rd St, Chicago Heights, IL 60411-5868
      View Details
    • Value Estimation by Request
      1,672 SF

      153 23rd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,672 SF
      153 23rd St, Chicago Heights, IL 60411-4261
      View Details

    Similar Nearby for Sale

    • $1,800,000
      19,500 SF

      Chicago Heights Apartment Building Investment

      30-unit apartment building with recent renovations and assumable loan.
      737-747 Grant Ave, Chicago Heights, IL 60411
      View Details
    • $289,000

      Chicago Heights Multifamily Investment Opportunity

      Five-unit building with diverse layouts in Chicago Heights.
      1217 Park Ave, Chicago Heights, IL 60411
      View Details
    • $189,900

      Updated Triplex in Chicago Heights

      Income-generating triplex with updated 4-bedroom unit and hardwood floors.
      1631 Buena Vista Ave, Chicago Heights, IL 60411
      View Details
    • $109,999

      Multi-Unit Investment Opportunity

      Vacant two-unit building, updated, ideal for investors.
      72 W 19Th St, Chicago Heights, IL 60411
      View Details
    • $210,000
      0.85 Acres

      Lynwood, IL Commercial Property

      Commercial property for sale in Lynwood, Illinois.
      21924 E Lincoln Hwy, Lynwood, IL 60411
      View Details
    • $308,900

      Updated Duplex in Chicago Heights

      Two-unit property with recent updates and investment potential.
      146 E 24Th St, Chicago Heights, IL 60411
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr

      Freestanding Industrial Facility with Rail

      Heavy industrial facility featuring rail spur, cranes, and updated infrastructure.
      300 Joe Orr Rd, Chicago Heights, IL 60411
      View Details
    • $10 SF/Yr

      Renovated Office Spaces Available

      Meticulously renovated office spaces in a coveted location.
      222 Vollmer Rd, Chicago Heights, IL 60411
      View Details
    • $18 SF/Yr

      Renovated Office Spaces Available

      Meticulously renovated office spaces in a contemporary building.
      222 Vollmer Rd, Chicago Heights, IL 60411
      View Details
    • Contact for pricing
      2,282 SF

      Former Restaurant with Drive-Thru

      Restaurant space with drive-thru, full kitchen, and cooler.
      2703 E Sauk Trl, Sauk Village, IL 60411
      View Details
    • $16 SF/Yr
      1,565 SF

      Retail Space in Chicago Heights

      Retail space available with high visibility and ample parking.
      79-177 West Joe Orr Rd, Chicago Heights, IL 60411
      View Details
    • Contact for pricing
      7,600 SF

      Retail Suites Available for Lease

      Two suites available at Sauk Plaza in Sauk Village.
      16-19 E Sauk Trl, Sauk Village, IL 60411
      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.
    2830 Chicago Rd
    South Chicago Heights, IL 60411-5489
    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!