Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    37 Prospect Ave Park Ridge, IL 60068-4101
    Back to Search
    Property profile & analytics

    37 Prospect Ave, Park Ridge, IL 60068-4101

    View on Map
    • Retail residential properties
    • 0.26 lot acres
    Off-Market
    Property ID
    US28-2204121
    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

    • Sweet Home Park Ridge / Real Estate Agency
    • Re/Max Properties Northwest / Real Estate Agency
    • ken welter / Real Estate Agency
    • Terri Tillinghast, RE/MAX Properties Northwest / Real Estate Agency
    • RE/MAX Properties Northwest: Madeline Heller / Real Estate Agency

    Property Details for 37 Prospect Ave

    Year built
    1920
    Lot size
    0.26 lot acres
    Property type
    Retail residential properties
    APN
    09-35-206-011
    APU
    935206011

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 15, 2016 — Marcus,c Living Trust Marcus,cathy C Quit Claim Deed · related —
    Jan 18, 2000 — Robert S Roth — Deed Of Trust · related $1M · Seller
    Oct 12, 1999 — Roth Trust American Nat'l Bk&tr Chgo Ttee Grant Deed · related —

    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
    Park Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.8302
    Latitude
    42.0097
    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
    $50,978
    $26,956
    $169,065
    $196,021
    -
    $269,560
    $1,690,650
    $1,960,210

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      807 Devon Ave, Unit 17

      STORES & APARTMENTS
      807 Devon Ave, Park Ridge, IL 60068-4736
      View Details
    • Value Estimation by Request
      0.23 Acres

      15 Prospect Ave

      STORES & APARTMENTS
      15 Prospect Ave, Park Ridge, IL 60068-4120
      View Details
    • Value Estimation by Request

      1110 Courtland Ave

      STORES & APARTMENTS
      1110 Courtland Ave, Park Ridge, IL 60068
      View Details
    • Value Estimation by Request
      0.06 Acres

      807 Devon Ave, Unit 17

      STORES & APARTMENTS
      807 Devon Ave, Park Ridge, IL 60068-4736
      View Details
    • Value Estimation
      $1,450,000
      0.16 Acres

      139 Vine Ave

      STORES & APARTMENTS
      139 Vine Ave, Park Ridge, IL 60068-4139
      View Details
    • Value Estimation by Request
      0.50 Acres

      1 Snw Hwy

      STORES & APARTMENTS
      1 Snw Hwy, Park Ridge, IL 60068-4240
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Uptown Park Ridge Multi-Use Building

      Multi-use building in prime Uptown Park Ridge location.
      35 S Prospect Ave, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      10,186 SF

      Mixed-Use Property in Park Ridge

      Mixed-use investment property with income and owner/user potential.
      776 Busse Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      9,668 SF

      Park Ridge Multifamily Investment Opportunity

      Recently renovated, fully leased 8-unit building near Iroquois Woods.
      20 S Dee Rd, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      70,144 SF

      Grocery-Anchored Retail Collection For Sale

      Grocery-anchored retail collection in affluent Park Ridge, Illinois.
      10 N Northwest Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      3 SF

      Office Land in Park Ridge

      Office property with excellent access to I-294 and O'Hare.
      1400 Renaissance Dr, Park Ridge, IL 60068
      View Details
    • $405,000
      0.23 Acres

      Vacant Lot in Park Ridge

      Vacant commercial land available in Park Ridge, Illinois.
      38 E Touhy Ave, Park Ridge, IL 60068
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr

      Dental Office Space Available

      Second generation dental office space for lease in Park Ridge.
      912 Busse Hwy, Park Ridge, IL 60068
      View Details
    • $27 SF/Yr

      Renovated Office Space Available

      Office space for rent with convenient amenities and accessibility.
      350 South Northwest Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Convenient Office Space Near Highway

      Office park with amenities near I-294 and Advocate Lutheran Hospital.
      1550 N Northwest Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Versatile Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      222 S Prospect Ave, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Park Ridge Office Space Available

      Office space for rent with indoor parking and accessibility.
      1420 Renaissance Dr, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Convenient Office Park Near Highway

      Affordable office spaces with amenities near major transportation routes.
      1580 N Northwest Hwy, Park Ridge, IL 60068
      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.
    37 Prospect Ave
    Park Ridge, IL 60068-4101
    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

    Thank You for Inquiry
    37 Prospect Ave, Park Ridge, IL, 60068
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!