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

    4048 Pr Ave Schiller Park, IL 60176-1976

    • Residential income homes
    • 2,606 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Sep 11, 2024
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5093590
    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 4048 Pr Ave

    Year built
    1911
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property size
    2,606 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    12-16-414-021
    APU
    1216414021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $459,000
      Market price range: $314k - $554k
      AI Estimate
      $349,000
      Market price range: $291k - $412k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $455,000
      Current use
      RETAIL STORES
      $390,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Schiller Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8678
    Latitude
    41.9527
    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
    $9,708
    $5,356
    $31,643
    $36,999
    -
    $53,560
    $316,430
    $369,990

    Comparable in this City

    • Value Estimation
      $425,000
      2,064 SF

      5010 Harold Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,064 SF
      5010 Harold Ave, Schiller Park, IL 60176-1057
      View Details
    • Value Estimation
      $435,000
      2,457 SF

      4100 Pr Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,457 SF
      4100 Pr Ave, Schiller Park, IL 60176-1932
      View Details
    • Value Estimation
      $460,000
      2,450 SF

      9743 Riv St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,450 SF
      9743 Riv St, Schiller Park, IL 60176-1070
      View Details
    • Value Estimation
      $345,000
      2,458 SF

      4047 Wagner Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,458 SF
      4047 Wagner Ave, Schiller Park, IL 60176-2124
      View Details
    • Value Estimation
      $430,000
      2,504 SF

      3765 Wehrman Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,504 SF
      3765 Wehrman Ave, Schiller Park, IL 60176-2010
      View Details
    • Value Estimation
      $395,000
      2,016 SF

      4037 Wesley Ter

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,016 SF
      4037 Wesley Ter, Schiller Park, IL 60176-2192
      View Details

    Similar Nearby for Sale

    • $179,000

      Updated Condo Near O'Hare Airport

      Updated condo near O'Hare, Rosemont, and major transportation.
      9501 Kelvin Ln, Schiller Park, IL 60176
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    • $159,900
      900 SF

      Two-Bedroom Apartment with Modern Amenities

      First-floor apartment featuring granite countertops, in-unit laundry, and parking.
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    • $2,100,000

      Schiller Park Multifamily Investment Opportunity

      Well-maintained 12-unit apartment building with stable income and multiple revenue streams.
      9231-9235 W Irving Park Rd, Schiller Park, IL 60176
      View Details
    • Contact for pricing

      Schiller Park Land Opportunity

      2.24 acre site in Schiller Park, Illinois.
      3929 Wehrman Ave, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      20,325 SF

      Industrial Facility Near O'Hare Airport

      20,325 SF industrial facility with convenient highway and airport access.
      9815 Leland Ave, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      39,582 SF

      Schiller Park Industrial Park

      Three-building industrial park near O'Hare Airport's South Cargo Entrance.
      3737-3749 N 25Th Ave, Schiller Park, IL 60176
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      51,032 SF

      Franklin Park Industrial Space Available

      51,032 SF industrial space with ample trailer parking.
      10601 Seymour Ave, Franklin Park, IL 60176
      View Details
    • Contact for pricing
      27,010 SF

      Schiller Park Warehouse Space Available

      Industrial warehouse space near O'Hare and major transportation routes.
      4250-4306 United Pkwy, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      5,000 SF

      Schiller Park Warehouse Space Available

      Warehouse space with excellent access to major transportation routes.
      4205-4321 N United Pkwy, Schiller Park, IL 60176
      View Details
    • $9 SF/Yr
      98,190 SF

      Industrial Space Near O'Hare Airport

      300,000 SF industrial building near O'Hare, available immediately.
      11000 Seymour Ave, Franklin Park, IL 60176
      View Details
    • $8 SF/Yr
      5,000 SF

      Schiller Park Warehouse Space Available

      Industrial warehouse space for rent in Schiller Park, Illinois.
      9831-9865 Leland Ave, Schiller Park, IL 60176
      View Details
    • $9 SF/Yr
      16,000 SF

      Schiller Park Warehouse Space Available

      Warehouse space with office, docks, drive-in door, and high ceilings.
      9520 Seymour Ave, Schiller Park, IL 60176
      View Details
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    4048 Pr Ave
    Schiller Park, IL 60176-1976
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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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