Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3844 147th St Midlothian, IL 60445-3452
    Back to Search
    Property profile & analytics

    3844 147th St, Midlothian, IL 60445-3452

    View on Map
    • Retail space
    • 0.09 lot acres
    Off-Market
    Last Sale Jan 18, 2024
    Property ID
    US28-0980176
    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

    • Bartolini's Restaurant / Take-out & Catering / Catering Service

    Property Details for 3844 147th St

    Year built
    1950
    Lot size
    0.09 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    28-11-125-033
    APU
    2811125033

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 18, 2024 — 2meatballs LLC Midtin Development LLC Warranty Deed $1.3M · Cnb Bank & Trust NA
    Dec 29, 1999 — Palos Bank & Trust Co Trustee Corsi Trust Grant Deed · related —
    — — Midtin Dev LLC — Deed Of Trust · related $405k · Cnb Bk&tr NA-oak Forest

    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
    Midlothian
    County
    Cook
    State
    Illinois
    Longitude
    -87.7148
    Latitude
    41.6259
    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
    $24,398
    $7,500
    $44,428
    $51,928
    -
    $30,000
    $177,712
    $207,712

    Comparable in this City

    • Value Estimation by Request
      0.14 Acres

      3831 147th St

      STORE, RETAIL OUTLET
      3831 147th St, Midlothian, IL 60445-3403
      View Details
    • Value Estimation by Request
      0.09 Acres

      3842 147th St

      STORE, RETAIL OUTLET
      3842 147th St, Midlothian, IL 60445
      View Details
    • Value Estimation by Request
      813 SF

      14650 Sawyer Ave

      STORE, RETAIL OUTLET
      14650 Sawyer Ave, Midlothian, IL 60445-3018
      View Details
    • Value Estimation by Request
      0.22 Acres

      3940 147th St

      STORE, RETAIL OUTLET
      3940 147th St, Midlothian, IL 60445
      View Details
    • Value Estimation by Request
      0.10 Acres

      3934 147th St

      STORE, RETAIL OUTLET
      3934 147th St, Midlothian, IL 60445-3454
      View Details
    • Value Estimation by Request
      2,850 SF

      4039 147Th St

      Individual retail properties
      4039 147Th St, Midlothian, IL 60445
      View Details

    Similar Nearby for Sale

    • $90,000

      Established Tailor Business Opportunity

      Turnkey tailor and seamstress business with equipment and client list.
      3921 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing

      Commercial Corner Lot on 147th

      Prime commercial corner lot in Midlothian business district.
      4031 147Th St, Midlothian, IL 60445
      View Details
    • $439,900
      0.37 Acres

      Updated Mixed-Use Building and Land

      Updated mixed-use property with vacant land in Midlothian.
      4039 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing
      Pending

      Updated Mixed-Use Building in Midlothian

      Updated mixed-use building in Midlothian's business district, fully leased.
      4039 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing

      Free-Standing Commercial Building For Sale

      High-visibility commercial building suitable for retail, office, medical, showroom.
      14721-25 Kilbourne Ave, Midlothian, IL 60445
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,295 SF

      Retail Space with Excellent Traffic

      Former credit union space suitable for banking or retail.
      4816-4850 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing
      3,787 SF

      Retail Space at Hard Corner

      Retail space with high traffic and signage opportunities.
      4736-4756 Cal Sag Rd, Crestwood, IL 60445
      View Details
    • Contact for pricing

      Retail Building on Cicero Avenue

      15,062 SF building in Crestwood's retail corridor.
      13343 S Cicero Ave, Crestwood, IL 60445
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Crestwood, Illinois.
      Cicero Ave & Cal Sag Rd, Crestwood, IL 60445
      View Details
    • Contact for pricing

      Restaurant Unit in Midlothian

      Turnkey restaurant space in high-traffic commercial property.
      4659 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing

      Midlothian Commercial Unit For Rent

      High-traffic commercial unit available for rent in Midlothian, IL.
      4657 147Th St, Midlothian, IL 60445
      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.
    3844 147th St
    Midlothian, IL 60445-3452
    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
    3844 147th St, Midlothian, IL, 60445
    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!