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

    4031 147Th St Midlothian, IL 60445

    • Commercial real estate
    • 0.25 lot acres
    For Sale
    View listing
    $129,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2702146
    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

    • Commercial real estate

    Property Details for 4031 147Th St

    Lot size
    0.25 lot acres
    Property type
    Commercial real estate
    APN
    28104030060000 ; 2810403007

    Description

    This exceptional 0.25-acre commercial property, located at 4031 147th Street in Midlothian, Illinois (zip code 60445), presents a remarkable investment opportunity. Situated in the heart of Midlothian's bustling business district, this fee simple lot boasts over 73 square feet of frontage on the heavily trafficked 147th Street. The property's prime corner location ensures high visibility and accessibility, making it ideal for a diverse range of commercial ventures. Its location within a Tax Increment Financing (TIF) district offers potential tax advantages. The property's versatility allows for a multitude of development possibilities, including but not limited to a coffee shop, retail storefront, or a mixed-use development incorporating a drive-through fast-food restaurant. The Cook County Assessor's Parcel Numbers (APN) are 28104030060000 and 2810403007. The asking price for this land is $149,900. Note that a combined purchase option with an adjacent mixed-use building is available for a total price of $510,000. This property offers significant potential for growth and return on investment in a thriving commercial area. The latitude and longitude coordinates are 41.625239 and -87.719164 respectively.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Cook
    State
    Illinois
    Longitude
    -87.719164
    Latitude
    41.625239

    Comparable in this City

    • $495,000
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      Free-Standing Commercial Building For Sale

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    • $90,000

      Established Tailor Business Opportunity

      Turnkey tailor and seamstress business with equipment and client list.
      3921 147Th St, Midlothian, IL 60445
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    • $749,000

      Commercial Land on Cicero Avenue

      One-acre commercial lot with frontage on Cicero Avenue.
      14101 S Cicero Ave, Crestwood, IL 60445
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    • $949,900

      Preapproved Townhome Development Opportunity

      Preapproved 10-acre, 61-unit townhome development opportunity in Midlothian, IL.
      14301 Hamlin Ave, Midlothian, IL 60445
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    • $510,000
      2,850 SF

      Midlothian Mixed-Use Investment Opportunity

      Profitable Multifamily & Retail in Midlothian, IL
      4039 147Th St, Midlothian, IL 60445
      View Details
    • $349,900
      2,850 SF

      Midlothian Mixed-Use Commercial Building

      Profitable Mixed-Use Property in Midlothian, IL
      4039 147Th St, Midlothian, IL 60445
      View Details

    Similar Nearby for Sale

    • $495,000
      0.35 Acres

      Free-Standing Commercial Building For Sale

      High-visibility commercial building suitable for retail, office, medical, or showroom.
      14721-25 Kilbourne Ave, Midlothian, IL 60445
      View Details
    • $90,000

      Established Tailor Business Opportunity

      Turnkey tailor and seamstress business with equipment and client list.
      3921 147Th St, Midlothian, IL 60445
      View Details
    • $749,000

      Commercial Land on Cicero Avenue

      One-acre commercial lot with frontage on Cicero Avenue.
      14101 S Cicero Ave, Crestwood, IL 60445
      View Details
    • $949,900

      Preapproved Townhome Development Opportunity

      Preapproved 10-acre, 61-unit townhome development opportunity in Midlothian, IL.
      14301 Hamlin Ave, Midlothian, IL 60445
      View Details
    • $510,000
      2,850 SF

      Midlothian Mixed-Use Investment Opportunity

      Profitable Multifamily & Retail in Midlothian, IL
      4039 147Th St, Midlothian, IL 60445
      View Details
    • Contact for pricing
      30,604 SF

      Retail Property on Cicero Avenue

      Retail property with high visibility and convenient highway access.
      14633 Cicero Ave, Midlothian, IL 60445
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,129 SF

      Regional Center Retail Space Available

      Retail space in a dominant regional center with high traffic.
      13180-13220 S Cicero Ave, Crestwood, IL 60445
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    • $10 SF/Yr
      73,000 SF

      Midlothian Office Plaza Investment

      Prime Midlothian Office Suites Available
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    • Contact for pricing
      2,370 SF

      Freestanding Restaurant Building on Cicero Avenue

      Second-generation restaurant with black-iron hood and patio seating.
      13340 Cicero Ave, Crestwood, IL 60445
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    • 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
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    • Contact for pricing
      1,925 SF

      Regional Center Retail Space Available

      Retail space in a dominant regional center with high traffic.
      13134-13154 S Cicero Ave, Midlothian, IL 60445
      View Details
    • Contact for pricing
      70,000 SF

      Retail Space in Crestwood Center

      Dominant power center with national brand anchors and high traffic.
      13130-13120 Rivercrest Dr, Crestwood, IL 60445
      View Details
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    Midlothian, IL 60445
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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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