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    333 La Grange Rd La Grange Park, IL 60526-5646
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    Property profile & analytics

    333 La Grange Rd La Grange Park, IL 60526-5646

    View on Map
    • Community centers
    • 2.85 lot acres
    Off-Market
    Last Sale Sep 12, 2023
    Property ID
    US28-2000560
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Lee D. Weiss, MD / Physician
    • Aldi / Specialty Food Shop / Supermarket

    Property Details for 333 La Grange Rd

    Year built
    1955
    Lot size
    2.85 lot acres
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    15-33-414-042
    APU
    1533414042

    Description

    This exceptional retail and office opportunity is located at 333 N La Grange Rd in La Grange Park, Illinois, within Cook County (zip code 60526). The Village Market property offers a total of 96,325 square feet of space, currently featuring multiple tenancies. Seven individual spaces are immediately available for lease, ranging in size from 850 to 1,225 square feet. A significant amount of vacant space is also available, totaling 8,809 square feet, presenting a unique opportunity for expansion or customization. The property's storefront design is ideal for businesses seeking high visibility and convenient access for customers. The minimum leasable unit size is 850 square feet, making it suitable for a variety of businesses. This prime location in La Grange Park offers excellent visibility and accessibility, making it an attractive option for businesses seeking a thriving retail environment. The property's versatile layout allows for flexibility in tenant configuration, catering to diverse business needs. Interested parties are encouraged to inquire about lease terms and available space configurations. This is a rare opportunity to secure retail or office space in a well-established and highly visible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    La Grange Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8696
    Latitude
    41.8215
    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
    $280,889
    $310,365
    $612,793
    $923,158
    -
    $1,241,460
    $2,451,172
    $3,692,632

    Comparable in this City

    • Value Estimation
      $500,000
      3.60 Acres

      419 La Grange Rd

      MINI-MALL • 3.60 Acres
      419 La Grange Rd, La Grange Park, IL 60526-5645
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    • Value Estimation by Request
      1.30 Acres

      545 Sherwood Rd

      Lifestyle centers • 1.30 Acres
      545 Sherwood Rd, La Grange Park, IL 60526
      View Details
    • Value Estimation by Request
      0.26 Acres

      1235 Homestead Rd, Unit P4

      RESIDENTIAL PARKING GARAGE • 0.26 Acres
      1235 Homestead Rd, La Grange Park, IL 60526-1164
      View Details
    • Value Estimation by Request
      0.27 Acres

      1117 Homestead Rd, Unit P3

      RESIDENTIAL PARKING GARAGE • 0.27 Acres
      1117 Homestead Rd, La Grange Park, IL 60526-5412
      View Details
    • Value Estimation by Request
      0.26 Acres

      1235 Homestead Rd, Unit P3

      RESIDENTIAL PARKING GARAGE • 0.26 Acres
      1235 Homestead Rd, La Grange Park, IL 60526-1164
      View Details
    • Value Estimation by Request
      0.27 Acres

      1415 Homestead Rd, Unit P11

      RESIDENTIAL PARKING GARAGE • 0.27 Acres
      1415 Homestead Rd, La Grange Park, IL 60526-1170
      View Details

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    La Grange Park, IL 60526-5646
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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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