Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    3337 48th Pl Chicago, IL 60632
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3337 48th Pl Chicago, IL 60632

    View on Map
    • Industrial properties
    • 11,100 SF
    • 0.35 lot acres
    Off-Market
    Last Sale Sep 27, 2024
    $500,000
    Property ID
    US28-2098873
    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

    • Industrial properties

    Property Details for 3337 48th Pl

    Year built
    1925
    Lot size
    0.35 lot acres
    Property size
    11,100 SF
    Property type
    Industrial properties
    APN
    19-11-201-022
    APU
    1911201022

    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
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.708
    Latitude
    41.8054
    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
    $16,043
    $15,100
    $54,900
    $70,000
    -
    $60,400
    $219,600
    $280,000

    Comparable in this City

    • Value Estimation by Request
      1.72 Acres

      4743 Washtenaw Ave

      Land • 1.72 Acres
      4743 Washtenaw Ave, Chicago, IL 60632
      View Details
    • Value Estimation by Request

      3830 Kostner Ave

      INDUSTRIAL (GENERAL)
      3830 Kostner Ave, Chicago, IL 60632
      View Details
    • Value Estimation by Request
      0.09 Acres

      4825 Knox Ave

      INDUSTRIAL (GENERAL) • 0.09 Acres
      4825 Knox Ave, Chicago, IL 60632-4846
      View Details
    • Value Estimation by Request

      Chicago, IL 60632

      INDUSTRIAL (GENERAL)
      Chicago, IL 60632
      View Details
    • Value Estimation by Request

      Chicago, IL 60632

      INDUSTRIAL (GENERAL)
      Chicago, IL 60632
      View Details
    • Value Estimation by Request
      0.07 Acres

      4707 Kilbourn Ave

      INDUSTRIAL (GENERAL) • 0.07 Acres
      4707 Kilbourn Ave, Chicago, IL 60632
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Industrial Building in Brighton Park

      92,000+ SF industrial building with convenient access to transportation.
      3421-3433 W 48Th Pl, Chicago, IL 60632
      View Details
    • Contact for pricing

      Truck Terminal/IOS Facility For Sale

      27,170 SF truck terminal/IOS facility on 3.93 acres.
      4740 South Whipple St, Chicago, IL 60632
      View Details
    • Contact for pricing
      10,000 SF

      10,000 SF Chicago Warehouse

      10,000 SF warehouse with oversized drive-in doors.
      4158 W 54Th St, Chicago, IL 60632
      View Details
    • Contact for pricing
      98,771 SF

      Chicago Warehouse and Distribution Space

      98,771 SF warehouse with excellent access to transportation.
      2904 W 36Th Pl, Chicago, IL 60632
      View Details
    • $324,900

      Brighton Park Brick 2-Flat

      Well-maintained Chicago 2-flat with income potential and finished basement.
      4552 S Christiana Ave, Chicago, IL 60632
      View Details
    • $2,100,000
      0.13 Acres

      Chicago Nightlife Venue with Apartment

      Established nightclub with real estate, business, and residential apartment.
      9999 S Pulaski Rd, Chicago, IL 60632
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      5000 S Homan Ave, Chicago, IL 60632

      Warehouses
      5000 S Homan Ave, Chicago, IL 60632
      View Details
    • Contact for pricing
      12,983 SF

      Industrial Building with Available Space

      Industrial building with 2,200 SF available for lease.
      4601 S Tripp Ave, Chicago, IL 60632
      View Details
    • Contact for pricing
      27,631 SF

      Renovated Truck Terminal with Parking

      Newly renovated truck terminal with ample parking and convenient access.
      4100 W 52Nd Pl, Chicago, IL 60632
      View Details
    • Contact for pricing
      47,120 SF

      Chicago Warehouse Sublease Opportunity

      47,120 SF Chicago warehouse sublease with truck parking.
      4532 South Kolin Ave, Chicago, IL 60632
      View Details
    • $8 SF/Yr
      71,004 SF

      Well-Maintained Chicago Warehouse Available

      71,004 SF warehouse with recent upgrades, ideal for various uses.
      4202 W 45Th St, Chicago, IL 60632
      View Details
    • Contact for pricing
      214,242 SF

      Chicago Warehouse with Cooler/Freezer Units

      In-city warehouse space with cooler/freezer units available for rent.
      4220 S Kildare Ave, Chicago, IL 60632
      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.
    3337 48th Pl
    Chicago, IL 60632
    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!