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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3648 116th St Alsip, IL 60803-6215

    • Residential income homes
    • 1,258 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    7%
    Residential income homes
    Location Intelligence
    Property ID
    US28-0502780
    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

    • Residential income homes

    Property Details for 3648 116th St

    Year built
    1945
    Construction
    FRAME
    Lot size
    0.22 lot acres
    Property size
    1,258 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    24-23-307-036
    APU
    2423307036

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $350,000
      6.5%
      $325,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $187,000
      Market price range: $130k - $187k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $300,000
      RETAIL STORES
      $185,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Alsip
    County
    Cook
    State
    Illinois
    Longitude
    -87.7121
    Latitude
    41.6825
    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
    $6,285
    $4,320
    $17,166
    $21,486
    -
    $43,200
    $171,660
    $214,860

    Comparable in this City

    • Value Estimation
      $540,000
      7,200 SF

      12400 Keeler Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,200 SF
      12400 Keeler Ave, Alsip, IL 60803-1815
      View Details
    • Value Estimation
      $455,000
      4,136 SF

      12012 Kildare Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,136 SF
      12012 Kildare Ave, Alsip, IL 60803-2314
      View Details
    • Value Estimation
      $450,000
      4,136 SF

      12000 Kildare Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,136 SF
      12000 Kildare Ave, Alsip, IL 60803-2328
      View Details
    • Value Estimation
      $465,000
      4,136 SF

      11950 Kildare Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,136 SF
      11950 Kildare Ave, Alsip, IL 60803-2324
      View Details
    • Value Estimation
      $480,000
      3,904 SF

      11958 Kildare Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,904 SF
      11958 Kildare Ave, Alsip, IL 60803-2326
      View Details
    • Value Estimation
      $440,000
      3,665 SF

      12744 La Crosse Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,665 SF
      12744 La Crosse Ave, Alsip, IL 60803-3042
      View Details

    Similar Nearby for Sale

    • $2,150,000
      9,962 SF

      American Heritage Center, Alsip, IL

      Mixed-use investment, high NOI, 6.76% cap rate
      5100 127Th St, Alsip, IL 60803
      View Details
    • $668,550
      Pending

      Updated Six-Unit Multifamily Property

      Fully leased six-unit multifamily property in a desirable area.
      5544 W Cal Sag Rd, Alsip, IL 60803
      View Details
    • Contact for pricing
      3,000 SF

      Alsip Auto Shop Investment Opportunity

      Prime Auto Repair Shop, High Traffic Area
      12257 Cicero Ave, Alsip, IL 60803
      View Details
    • $325,000
      72,030 SF

      Industrial Property in Alsip, Illinois

      72,030 square foot industrial property for sale.
      13005 S Hamlin Ct, Alsip, IL 60803
      View Details
    • Contact for pricing
      45,000 SF

      45,000 SF Industrial Building For Sale

      Industrial building with docks and drive-in doors near I-294.
      12401-12427 S Kedvale Ave, Alsip, IL 60803
      View Details
    • New
      $149,999
      0.06 Acres

      Prime Commercial Space for Sale

      Commercial space suitable for office or retail operations in Alsip.
      11638 S Pulaski Rd, Alsip, IL 60803
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,151 SF

      Cicero Ave Retail Space

      Alsip restaurant space, high traffic.
      12052 Cicero Ave, Alsip, IL 60803
      View Details
    • $12 SF/Yr
      7,500 SF

      Alsip Office Space for Lease

      Modern Office Suites, 3,000-7,500 SF
      12845 Cicero Ave, Alsip, IL 60803
      View Details
    • Contact for pricing
      162,714 SF

      Alsip Industrial Manufacturing Space

      Multiple Units, 27K-61K SF Available
      11746-11756 Austin Ave, Alsip, IL 60803
      View Details
    • Contact for pricing
      12,500 SF

      Alsip Flex Space Available

      Flex space with office, dock, drive-in doors, and parking.
      12600 S Holiday Dr, Alsip, IL 60803
      View Details
    • Contact for pricing
      3,174 SF

      Retail/Healthcare Space Near Pulaski Road

      3,174 SF retail/healthcare space with convenient access and parking.
      11500 S Pulaski Rd, Alsip, IL 60803
      View Details
    • $16 SF/Yr
      70,000 SF

      Alsip Flex Space: Two Buildings

      70,000 SF Flex Space, Cook County, IL
      12600 Kroll Dr, Alsip, IL 60803
      View Details
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    Alsip, IL 60803-6215
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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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