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

    3145 Sheffield Ave Chicago, IL 60657-4434

    • Theaters & concert halls
    • 26,300 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $1,020,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2317985
    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

    • The Vic Theatre / Music Venue / Bar & Pub
    • The Brew & View / Cinema / Theater & Performing Art Venue

    Property Details for 3145 Sheffield Ave

    Year built
    1914
    Lot size
    0.28 lot acres
    Property size
    26,300 SF
    Property type
    Theaters & concert halls
    APN
    14-29-204-002
    APU
    1429204002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $755,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,287,000
      Market price range: $419k - $2.11M

    • Alternative Use

      Use
      Estimation
      THEATER (MOVIE)
      $800,000
      Current use
      WAREHOUSE, STORAGE
      $1,175,000
      Change: +47% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $725,000
      Change: -9% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $705,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6537
    Latitude
    41.9395
    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
    $81,717
    $230,981
    $152,680
    $383,661
    -
    $923,924
    $610,720
    $1,534,644

    Comparable in this City

    • Value Estimation
      $680,000
      13,000 SF

      851 853rd W Belmont Ave

      THEATER (MOVIE) • 13,000 SF
      851 853rd W Belmont Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      3,800 SF

      555 Belmont Ave

      THEATER (MOVIE) • 3,800 SF
      555 Belmont Ave, Chicago, IL 60657-4616
      View Details
    • Value Estimation
      $860,000
      17,900 SF

      3137 Halsted St

      THEATER (MOVIE) • 17,900 SF
      3137 Halsted St, Chicago, IL 60657
      View Details
    • Value Estimation by Request

      1236 Melrose St

      Land
      1236 Melrose St, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      310,000 SF

      3460 Broadway St

      Restaurants • 310,000 SF
      3460 Broadway St, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      7,500 SF

      3216 Broadway St

      Retail properties & Spaces • 7,500 SF
      3216 Broadway St, Chicago, IL 60657
      View Details

    Similar Nearby for Sale

    • $1,550,000
      8,700 SF

      Lakeview Commercial Building on Lincoln

      Two-story commercial building with open space in Chicago's Lakeview.
      3121 N Lincoln Ave, Chicago, IL 60657
      View Details
    • $179,000

      Turnkey Boba Tea Shop Opportunity

      Fully equipped boba tea shop ready for immediate operation.
      3304 N Broadway St, Chicago, IL 60657
      View Details
    • $360,000
      1,200 SF

      Chicago Commercial Space For Sale

      Prime commercial space in a sought-after Chicago location.
      3125 N Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Lakeview Mixed-Use Renovated Asset

      Renovated 8-unit mixed-use property in prime Lakeview location.
      3240 N Clark St, Chicago, IL 60657
      View Details
    • $1,650,000

      Ravenswood Garage-Style Building For Sale

      Approximately 5,800 SF building on 6,200 SF lot.
      3340 N Ravenswood Ave, Chicago, IL 60657
      View Details
    • $45,000

      Established Nail Salon in Lakeview

      Turnkey nail salon with prime location and equipment included.
      3110 N Sheridan Rd, Chicago, IL 60657
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Chicago, Illinois.
      Swc Ashland Ave & Wellington Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Retail Space on Lincoln Avenue

      Retail space available for lease on Lincoln Avenue.
      3145 N Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,500 SF

      Retail Spaces Available For Rent

      Retail spaces available in high-traffic Chicago location.
      5601-5609 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,250 SF

      Retail Space Near Wrigley Field

      Retail space in a vibrant shopping and entertainment corridor.
      3501 N Southport Ave, Chicago, IL 60657
      View Details
    • $18 SF/Yr

      Lincoln Avenue Retail Space Available

      1,200 sqft lower-level retail space in prime location.
      2816 N Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      30,486 SF

      Former Retail Space on Broadway

      Single-story retail space in Chicago's Broadway At Surf.
      2840 N Broadway St, Chicago, IL 60657
      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.
    3145 Sheffield Ave
    Chicago, IL 60657-4434
    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!