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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Residential income homes
3344 Chicago Rd Steger, IL 60475-1101
Individually Owned
30-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-2527045
Property summary
AI-generated overview
This exceptional mixed-use property, located at 3344 Chicago Road in Steger, Illinois, presents a compelling investment opportunity. The building boasts excellent visibility at a busy intersection on Chicago/Steger Road, ensuring high traffic exposure for retail tenants. The property comprises two ground-floor retail spaces, one measuring 1,800 square feet and the other 1,200 square feet. Above the retail units, the second floor features three residential apartments: two two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Currently, rental rates are below market value, offering a significant opportunity to increase the property's net operating income and improve the current 12% capitalization rate. This presents a unique chance to enhance profitability through strategic rent adjustments and potential property upgrades. The property is offered at $290,000. This is a rare chance to acquire a well-located mixed-use building with substantial upside potential in a growing market. Serious inquiries are encouraged. Further details are available upon request.
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,645 SF
Lot
0.18 ac (7,957 SF)
APN
32-32-429-026
UPID
US28-2527045
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Trophies & Awards Plus (Bike/Boat/Book/etc) Store
-
H&R Block Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$350k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$449k
Blend (final)
Blend
$575k
Owner & transaction history
PATRICK C FAZZINI
PATRICK C FAZZINI
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$695,000
+98.4%
Office building
$620,000
+77.9%
Auto repair, garage
$565,000
+61.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Steger submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Steger submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$350,000
Current use
RETAIL STORES
$695,000
Change: +98% · Conversion: Difficult
OFFICE BUILDING
$620,000
Change: +78% · Conversion: Moderate
AUTO REPAIR, GARAGE
$565,000
Change: +61% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$124 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$9,935
Tax year 2022
Assessed value
$24,525
Assessed 2022
Previous assessed
$24,525
+0.0% YoY
Effective rate
40.51%
On assessed value
Assessed land
$2,387
Assessed improvement
$22,138
Land market value
$23,870
Improvement market value
$221,380
Total market value
$245,250
Applied tax rate
12,183.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
2
Units
4
Bathrooms
6
Total area
4,645 SF
Lot
0.18 ac (7,957 SF)
APN
32-32-429-026
UPID
US28-2527045
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$350,000
RETAIL STORES
Est. value
$695,000
OFFICE BUILDING
Est. value
$620,000
AUTO REPAIR, GARAGE
Est. value
$565,000
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
4
Bathrooms
6
Lot
0.18 ac
Current owner
From public records · entity-resolved
PATRICK C FAZZINI
Individual
Free & Clear · 0 yrs held
Mailing address
1875 EAGLE CIR, NEW LENOX, IL 60451-3844
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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