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

    3333 115th St Merrionette Park, IL 60803-4556

    • Retail space
    • 97,215 SF
    • 7.59 lot acres
    OFF-MARKET
    Value Estimations
    $14,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1595833
    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

    • Great Clips / Hair Salon

    Property Details for 3333 115th St

    Year built
    1997
    Lot size
    7.59 lot acres
    Property size
    97,215 SF
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    24-23-409-045
    APU
    2423409045

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,470,000
      Market price range: $6.68M - $25.3M
      AI Estimate
      $9,166,000
      Market price range: $3.94M - $14.5M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $14,150,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $23,240,000
      Change: +64% Conversion: Moderate
      OFFICE BUILDING
      $13,095,000
      Change: -7% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $11,895,000
      Change: -16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $11,645,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrionette Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.7042
    Latitude
    41.6834
    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
    $675,681
    $537,025
    $1,384,684
    $1,921,709
    -
    $2,148,100
    $5,538,736
    $7,686,836

    Comparable in this City

    • Value Estimation
      $7,820,000
      2.47 Acres

      11560 Kedzie Ave

      STORE, RETAIL OUTLET • 2.47 Acres
      11560 Kedzie Ave, Merrionette Park, IL 60803-4517
      View Details
    • Value Estimation
      $1,510,000

      12141 Cicero Ave

      STORE, RETAIL OUTLET
      12141 Cicero Ave, Alsip, IL 60803-2904
      View Details
    • Value Estimation by Request
      3,200 SF

      12148-12150 Cicero Ave

      Individual retail properties • 3,200 SF
      12148-12150 Cicero Ave, Alsip, IL 60803
      View Details
    • Value Estimation by Request
      0.77 Acres

      12159 Pulaski Rd

      STORE, RETAIL OUTLET • 0.77 Acres
      12159 Pulaski Rd, Alsip, IL 60803-1223
      View Details
    • Value Estimation by Request
      0.62 Acres

      12233 Pulaski Rd

      STORE, RETAIL OUTLET • 0.62 Acres
      12233 Pulaski Rd, Alsip, IL 60803-1404
      View Details
    • Value Estimation by Request
      24,760 SF

      12003 Pulaski Rd

      Lifestyle centers • 24,760 SF
      12003 Pulaski Rd, Alsip, IL 60803
      View Details

    Similar Nearby for Sale

    • $149,999
      0.06 Acres

      Prime Commercial Space for Sale

      Commercial space suitable for office or retail operations in Alsip.
      11638 S Pulaski Rd, Alsip, IL 60803
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    • $224,900
      0.30 Acres

      Alsip Retail Pad - Prime Location

      Vacant land, high traffic, development ready.
      11906 Cicero Ave, Alsip, IL 60803
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    • Contact for pricing
      3,000 SF

      Alsip Auto Shop Investment Opportunity

      Prime Auto Repair Shop, High Traffic Area
      12257 Cicero Ave, Alsip, IL 60803
      View Details
    • $895,000
      0.24 Acres

      Alsip Commercial Land Opportunity

      Commercial land in Alsip's Central Business District for sale.
      11849 S Pulaski Rd, Alsip, IL 60803
      View Details
    • $13,000,000
      37,000 SF

      High Velocity Warehouse For Sale

      New construction warehouse with trailer parking and repair bays.
      3600 W 127Th St, Alsip, IL 60803
      View Details
    • $11,750,000
      37,000 SF

      High Velocity Warehouse with Parking

      New construction warehouse with heavy trailer parking and repair bays.
      3600 W 127Th St, Alsip, IL 60803
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,151 SF

      Cicero Ave Retail Space

      Alsip restaurant space, high traffic.
      12052 Cicero Ave, Alsip, IL 60803
      View Details
    • Contact for pricing
      11,711 SF

      Merrionette Park Retail Space Available

      Retail space for lease in Merrionette Park, Illinois.
      3205-3243 W 115Th St, Merrionette Park, IL 60803
      View Details
    • Contact for pricing
      3,174 SF

      Retail/Healthcare Space Near Pulaski Road

      3,174 SF retail/healthcare space with convenient access and parking.
      11500 S Pulaski Rd, Alsip, IL 60803
      View Details
    • $16 SF/Yr
      70,000 SF

      Alsip Flex Space: Two Buildings

      70,000 SF Flex Space, Cook County, IL
      12600 Kroll Dr, Alsip, IL 60803
      View Details
    • Contact for pricing
      9,951 SF

      Retail Development in Alsip, IL

      New retail development with 9,951 square feet available for rent.
      12139 S Pulaski Rd, Alsip, IL 60803
      View Details
    • $20 SF/Yr
      18,537 SF

      Creekside Plaza Retail Space

      Alsip, IL Retail Space - 1,353 SF Available
      12246 Pulaski Rd, Alsip, IL 60803
      View Details
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    3333 115th St
    Merrionette Park, IL 60803-4556
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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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