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    3609 W Iles Ave Springfield, IL 62711
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    Property profile & analytics

    3609 W Iles Ave, Springfield, IL 62711

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    • Single family properties
    Off-Market
    Property ID
    US28-3055899
    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

    • Single family properties

    Property Details for 3609 W Iles Ave

    Property type
    Single family properties

    Description

    Exceptional Portfolio of 6 Immaculate Illinois Homes – A Unique Investment Opportunity! This portfolio features six beautifully maintained, move-in ready homes, each located in desirable Illinois neighborhoods. The homes offer spacious layouts with large bedrooms, upgraded kitchens and bathrooms, and inviting living areas, including finished basements, fireplaces, and private outdoor spaces. Recent updates across the properties include new roofs, fresh paint, updated flooring, and remodeled kitchens and baths, ensuring low maintenance and immediate comfort. Each property exudes curb appeal with well-maintained yards, decks, and patios, providing a perfect balance of indoor and outdoor living. Whether you're looking for an investment or a family home, this collection of turnkey Illinois properties offers incredible value and convenience, making it a rare opportunity in today’s market. Don’t miss out on this one-of-a-kind portfolio!

    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
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.72128
    Latitude
    39.771328

    Comparable in this City

    • $72,000

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      Springfield, IL Land For Sale

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    • $1,495,000

      Prime Commercial Land Opportunity

      Undeveloped land with high visibility and highway frontage.
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      Residential Lot in Sloan Crossing

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    • $64,000

      Residential Land in Centennial Pointe

      Residential lots in west Springfield near park and trails.
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    Similar Nearby for Sale

    • $72,000

      Springfield, IL Land For Sale

      Duplex property for sale in Springfield, Illinois.
      4610 Boone Dr, Springfield, IL 62711
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    • $72,000
      0.29 Acres

      Springfield, IL Land For Sale

      Residential land available in Springfield, Illinois.
      4614 Boone Dr, Springfield, IL 62711
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    • $1,495,000

      Prime Commercial Land Opportunity

      Undeveloped land with high visibility and highway frontage.
      2901 Mathers Rd, Springfield, IL 62711
      View Details
    • $65,000

      Residential Land in Springfield, IL

      Residential lot at the beginning of a cul-de-sac.
      613 Rock River Rd, Springfield, IL 62711
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    • $68,000
      0.30 Acres

      Residential Lot in Sloan Crossing

      Build-ready lot in a luxury subdivision with Springfield utilities.
      508 Sloan Dr, Springfield, IL 62711
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    • $64,000

      Residential Land in Centennial Pointe

      Residential lots in west Springfield near park and trails.
      5409 Jade Ln, Springfield, IL 62711
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    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

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      6,000 SF heated warehouse with office space for lease.
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      2,380 SF

      Prime Retail Space Available

      Adaptable storefront space with ample parking in strategic location.
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      2,200 SF

      Retail Space Near High-Traffic Retailers

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      51,836 SF

      Furnished Office Space Available

      Professional, furnished office space for rent in Springfield, Illinois.
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      Springfield Retail Space For Rent

      2,800 SF retail space in a rapidly growing area.
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      Small Office Suites Available

      Second-story office suites with utilities and internet included.
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    3609 W Iles Ave
    Springfield, IL 62711
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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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