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    3546 147th St Midlothian, IL 60445-3034
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    Property profile & analytics

    3546 147th St, Midlothian, IL 60445-3034

    View on Map
    • Garden apartment buildings
    • 4,480 SF
    • 0.17 lot acres
    Off-Market
    Last Sale Nov 25, 2025
    $599,000
    Property ID
    US28-0305800
    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
    $600,000
    Show details
    Cap Rate Potential
    7.9%
    Garden apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 3546 147th St

    Year built
    1966
    Lot size
    0.17 lot acres
    Property type
    Garden apartment buildings
    APN
    28-11-223-027
    APU
    2811223027

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 25, 2025 $599,000 Innorid LLC Rmf2 Investments LLC Warranty Deed $471k · Cornerstone National Bank & Trust C
    Jun 24, 2021 — Rmf2 Investments LLC Michael Harwood Quit Claim Deed · related $300k · Firstsecure Bank & Trust Co
    Nov 3, 2017 $580,000 Michael Harwood Pmd LLC Grant Deed $360k · Sarno Inv Props LLC-mortgages
    Sep 8, 2015 — Pmd LLC Sarno Investment Property LLC Grant Deed · related $360k · Sarno Inv Props LLC-mortgages
    Feb 25, 2004 $269,000 Samo Investment LLC Properties Mathew,philip Grant Deed $215k · Mid America Bank Fsb
    May 14, 2002 $265,000 Philip Matthew Palos Bank & Trust Co Trustee Grant Deed $212k · Bank Financial Fsb
    — — Palos Bank & Trust Co Trustee — Deed Of Trust · related $191k · Covest Banc NA
    — — Palos Bank & Trust Co Trustee — Deed Of Trust · related $150k · Citibank Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $660,000
      ML approach
      $665,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $865,000
      6.5%
      $800,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $531,000
      Market price range: $387k - $623k
      AI Estimate
      $537,000
      Market price range: $403k - $641k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $515,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $980,000
      Change: +91% Conversion: Difficult
      RETAIL STORES
      $670,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $600,000
      Change: +16% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $545,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Cook
    State
    Illinois
    Longitude
    -87.7074
    Latitude
    41.626
    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
    $17,675
    $6,000
    $31,620
    $37,620
    -
    $60,000
    $316,200
    $376,200

    Comparable in this City

    • Value Estimation by Request
      0.31 Acres

      3242 147th St

      GARDEN APT, COURT APT (5+ UNITS)
      3242 147th St, Midlothian, IL 60445-3665
      View Details
    • Value Estimation by Request
      0.09 Acres

      3510 147th St

      GARDEN APT, COURT APT (5+ UNITS)
      3510 147th St, Midlothian, IL 60445-3064
      View Details
    • Value Estimation by Request
      0.14 Acres

      14507 Pulaski Rd

      GARDEN APT, COURT APT (5+ UNITS)
      14507 Pulaski Rd, Midlothian, IL 60445-2840
      View Details
    • Value Estimation by Request
      0.12 Acres

      3400 147th St

      GARDEN APT, COURT APT (5+ UNITS)
      3400 147th St, Midlothian, IL 60445-3041
      View Details
    • Value Estimation
      $9,820,000
      0.14 Acres

      3620 147th St

      GARDEN APT, COURT APT (5+ UNITS)
      3620 147th St, Midlothian, IL 60445-3563
      View Details
    • Value Estimation
      $9,790,000
      0.12 Acres

      3528 147th St

      GARDEN APT, COURT APT (5+ UNITS)
      3528 147th St, Midlothian, IL 60445
      View Details

    Similar Nearby for Sale

    • $629,900
      Pending

      Six-Unit Brick Apartment Building

      Fully occupied six-unit building near Metra and shopping centers.
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      View Details
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      $639,900
      0.15 Acres

      Midlothian Multifamily Investment Opportunity

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      0.37 Acres

      Updated Mixed-Use Building and Land

      Updated mixed-use property with vacant land in Midlothian.
      4039 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing
      Pending

      Updated Mixed-Use Building in Midlothian

      Updated mixed-use building in Midlothian's business district, fully leased.
      4039 147Th St, Midlothian, IL 60445
      View Details
    • $319,900
      0.37 Acres

      Updated Mixed-Use Building in Midlothian

      Updated mixed-use building in the heart of Midlothian business district.
      4039 147Th St, Midlothian, IL 60445
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versatile Commercial Space Available

      Three connected units ideal for entertainment or event space.
      4663 147Th St, Midlothian, IL 60445
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    • Contact for pricing

      Retail Building on Cicero Avenue

      15,062 SF building in Crestwood's retail corridor.
      13343 S Cicero Ave, Crestwood, IL 60445
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Crestwood, Illinois.
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      View Details
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      Restaurant Unit in Midlothian

      Turnkey restaurant space in high-traffic commercial property.
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      Midlothian Commercial Unit For Rent

      High-traffic commercial unit available for rent in Midlothian, IL.
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      View Details
    • Contact for pricing

      Drive-Thru Outlot Opportunity

      Drive-thru outlot opportunity available for lease.
      13301 South Cicero Ave, Crestwood, IL 60445
      View Details
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    Midlothian, IL 60445-3034
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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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