Add Listing
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

    3551 Archer Ave Chicago, IL 60609-1135

    • Retail residential properties
    • 3,600 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Aug 24, 2022
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0731015
    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

    • The R.O.C.K Exchange Resale Boutique / Discount Store
    • Mariposa Chicago / Hotel & Motel / Resort
    • Fragoso Construction Company / Construction Company

    Property Details for 3551 Archer Ave

    Year built
    1926
    Lot size
    0.17 lot acres
    Property size
    3,600 SF
    Property type
    Retail residential properties
    APN
    17-31-304-009
    APU
    1731304009

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,015,000
      6.5%
      $935,000
      7%
      $870,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $874,000
      Market price range: $98.4k - $874k

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6792
    Latitude
    41.8292
    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
    $35,475
    $14,406
    $158,067
    $172,473
    -
    $144,060
    $1,580,670
    $1,724,730

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      4600 Wood St

      STORES & APARTMENTS • 1,400 SF
      4600 Wood St, Chicago, IL 60609-3818
      View Details
    • Value Estimation by Request
      1,900 SF

      3501 Western Blvd

      STORES & APARTMENTS • 1,900 SF
      3501 Western Blvd, Chicago, IL 60609-1020
      View Details
    • Value Estimation
      $740,000
      3,700 SF

      1801 47th St

      STORES & APARTMENTS • 3,700 SF
      1801 47th St, Chicago, IL 60609-3872
      View Details
    • Value Estimation
      $595,000
      2,800 SF

      3600 Halsted St

      STORES & APARTMENTS • 2,800 SF
      3600 Halsted St, Chicago, IL 60609-1780
      View Details
    • Value Estimation by Request
      2,100 SF

      4559 Halsted St

      STORES & APARTMENTS • 2,100 SF
      4559 Halsted St, Chicago, IL 60609-3413
      View Details
    • Value Estimation
      $605,000
      3,300 SF

      1954 35th St

      STORES & APARTMENTS • 3,300 SF
      1954 35th St, Chicago, IL 60609-1204
      View Details

    Similar Nearby for Sale

    • $3,500,000
      0.29 Acres

      Chicago Mixed-Use Elevator Building

      Upscale mixed-use property with apartments and commercial units in Chicago.
      718 W 47Th St, Chicago, IL 60609
      View Details
    • $845,000
      0.07 Acres

      Mixed-Use Property in High Traffic Area

      Mixed-use property with commercial storefront and residential units.
      3635 S Halsted St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Elevator Building with Commercial Units

      Upscale mixed-use building with apartments and commercial spaces for sale.
      718 W 47Th St, Chicago, IL 60609
      View Details
    • $525,000
      2,000 SF

      Mixed-Use Building in United Yards

      Three-unit building with commercial space in a developing area.
      4606 S Ashland Ave, Chicago, IL 60609
      View Details
    • $265,900
      0.08 Acres

      Mixed-Use Corner Building in Chicago

      Mixed-use corner building with storefront and apartment in Chicago.
      4629 S Ashland Ave, Chicago, IL 60609
      View Details
    • $265,000
      3,000 SF

      Mixed-Use Building in Chicago

      Three-unit mixed-use property with retail and residential spaces.
      5434 S Union Ave, Chicago, IL 60609
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Self-Storage Facility with Indoor Vehicle Storage

      Chicago self-storage facility with climate control and vehicle storage.
      1919 W Pershing Rd, Chicago, IL 60609
      View Details
    • $5 SF/Yr

      Clock Tower Industrial Center Space

      1.3 million SF industrial, studio, and warehouse space for lease.
      1965 W Pershing Rd, Chicago, IL 60609
      View Details
    • Contact for pricing
      56,264 SF

      Halsted Pershing Business Center Space

      Available warehouse space at Halsted Pershing Business Center.
      815 West Pershing Rd, Chicago, IL 60609
      View Details
    • Contact for pricing
      35,909 SF

      Industrial Space in Stockyards

      Industrial building with access to major interstates and downtown Chicago.
      4031 S Racine Ave, Chicago, IL 60609
      View Details
    • $1,300 /Mo
      1,000 SF

      Archer Avenue Storefront Retail Space

      Affordable storefront on busy Archer Ave with excellent visibility.
      3551-3561 S Archer Ave, Chicago, IL 60609
      View Details
    • $20 SF/Yr
      6,658 SF

      Versatile Chicago Filming and Event Space

      32,080 SF filming space with studios and event venue.
      3622 S Morgan St, Chicago, IL 60609
      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.
    3551 Archer Ave
    Chicago, IL 60609-1135
    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!