Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    355 Prospect Ave Bartlett, IL 60103

    • Commercial real estate
    • 0.72 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    Dec 19, 2024
    $170,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2630200
    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

    • L & M Christmas Trees / Christmas Market

    Property Details for 355 Prospect Ave

    Year built
    1994
    Lot size
    0.72 lot acres
    Property type
    Commercial real estate
    APN
    06-35-400-114
    APU
    635400114

    Description

    Devon Prospect Plaza, located at 355 S Prospect Ave, Bartlett, IL 60103, offers exceptional retail space in a high-traffic area of Cook County. This single-story, 20,500 square foot Class C building, constructed in 1988, features 12 suites with 6,000 square feet currently vacant. Individual suites range from a minimum of 900 square feet to a maximum contiguous space of 2,700 square feet, providing flexibility for various business needs. The property sits on 5.08 acres of land and boasts ample parking with 135 spaces. Its B-3 zoning provides diverse usage options. The building's strong tenancy history, with nearly 70% of current tenants operating for over a decade, and recent long-term lease renewals by major tenants like 7-Eleven and National Karate, highlight the desirability of this location. This Bartlett property benefits from excellent weekday and weekend traffic, making it an ideal investment opportunity in a densely populated Chicago suburb. The building has a floor area ratio (FAR) of 0.09. Cross street access is available via E Devon Ave.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bartlett
    County
    Cook
    State
    Illinois
    Longitude
    -88.1736
    Latitude
    41.9896
    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
    $23,362
    $47,250
    $29,134
    $76,384
    -
    $189,000
    $116,536
    $305,536

    Comparable in this City

    • Value Estimation by Request
      0.35 Acres

      304 Hickory Ave

      COMMERCIAL (GENERAL) • 0.35 Acres
      304 Hickory Ave, Bartlett, IL 60103
      View Details
    • Value Estimation by Request
      6.29 Acres

      1020 Bartlett Rd

      Land • 6.29 Acres
      1020 Bartlett Rd, Bartlett, IL 60103
      View Details
    • Value Estimation
      $15,680,000
      81,377 SF

      1001 Stearns Rd

      COMMERCIAL (GENERAL) • 81,377 SF
      1001 Stearns Rd, Bartlett, IL 60103-4509
      View Details
    • Value Estimation by Request
      1,008 SF

      9 Rte 59

      COMMERCIAL (GENERAL) • 1,008 SF
      9 Rte 59, Bartlett, IL 60103
      View Details
    • Value Estimation
      $13,185,000
      86,781 SF

      850-92 Rt 59

      COMMERCIAL (GENERAL) • 86,781 SF
      850-92 Rt 59, Bartlett, IL 60103
      View Details
    • Value Estimation by Request
      1,484 SF

      260 Army Trl Rd Ste G

      COMMERCIAL (GENERAL) • 1,484 SF
      260 Army Trl Rd Ste G, Bartlett, IL 60103-3005
      View Details

    Similar Nearby for Sale

    • $599,999

      Bartlett Land: 2 Acres Prime Location

      Rare Bartlett land, residential/commercial zoning.
      511 Illinois Rte 59, Bartlett, IL 60103
      View Details
    • $110,000

      Residential Lot Near Bartlett Golf

      Residential lot near train, restaurants, parks, and golf course.
      403 W Oneida Ave, Bartlett, IL 60103
      View Details
    • $2,950,000
      19.15 Acres

      Bartlett Land: 19 Acres R4 Zoning

      Prime Bartlett development land, 19+ acres, R4 zoning.
      5N444 Bartlett Rd, Bartlett, IL 60103
      View Details
    • Contact for pricing
      5,200 SF

      Prime Retail Outlot with Drive-Thru

      Build-to-suit outlot opportunity in dynamic Bartlett retail location.
      810-892 Rte, Bartlett, IL 60103
      View Details
    • $249,900
      1,100 SF

      Charming Bartlett Home with Upgrades

      Customized 3-bedroom home near downtown and Metra station.
      178 Stephanie Ct, Bartlett, IL 60103
      View Details
    • $3,400,000

      Bartlett Land Parcel For Sale

      20.15 acre commercial land parcel in Bartlett, Illinois.
      1097 Horizon Dr, Bartlett, IL 60103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      155,400 SF

      Bartlett Warehouse Space Available

      155,400 SF warehouse with 36' clear height for lease.
      1350 Munger Rd, Bartlett, IL 60103
      View Details
    • Contact for pricing
      366,573 SF

      Blue Heron Business Park: South Elgin Warehouse

      Modern Warehouse Space, Excellent Location, Immediate Occupancy
      and IL Rt. 25 Sec Kenyon Rd, South Elgin, IL 60103
      View Details
    • $10 SF/Yr
      20,500 SF

      Devon Prospect Plaza: Bartlett Retail Space

      Prime Bartlett storefront, multiple suites available.
      355 Prospect Ave, Bartlett, IL 60103
      View Details
    • Contact for pricing

      Retail Space in Downtown Bartlett

      Versatile retail space in high-traffic area, flexible lease terms.
      338 Main St, Bartlett, IL 60103
      View Details
    • Contact for pricing
      900 SF

      92,000 SF Power Center

      Power center with exposure on Route 59 in Bartlett, IL.
      1005 Stearns Rd, Bartlett, IL 60103
      View Details
    • Contact for pricing
      1,831 SF

      Retail Space in Power Center

      92,000 SF power center with high visibility on Route 59.
      1001 W Stearns Rd, Bartlett, IL 60103
      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.
    355 Prospect Ave
    Bartlett, IL 60103
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.