Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    407 Elizabeth St, Unit P15 Chicago, IL 60642-6410

    • Parking lots & garages
    • 0.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2547925
    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

    • Photique | A Vintage Photo Booth Co. / Photography Service / Party Supply Store
    • Klever Marketing Automation / Advertising Agency / Marketing & Advertising
    • Global Financial Planners / Financial Advisor
    • Christy Clow Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Rob's Detail Co. / Car Wash

    Property Details for 407 Elizabeth St

    Year built
    1921
    Lot size
    0.52 lot acres
    Property type
    Parking lots & garages
    APN
    17-08-141-023-1032
    APU
    17081410231032

    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
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6586
    Latitude
    41.8893
    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
    $189
    $108
    $808
    $916
    -
    $1,080
    $8,080
    $9,160

    Comparable in this City

    • Value Estimation by Request
      0.37 Acres

      859 Erie St, Unit P-53

      RESIDENTIAL PARKING GARAGE • 0.37 Acres
      859 Erie St, Chicago, IL 60642-7297
      View Details
    • Value Estimation by Request
      0.07 Acres

      1453 Walton St, Unit P3

      RESIDENTIAL PARKING GARAGE • 0.07 Acres
      1453 Walton St, Chicago, IL 60642-0051
      View Details
    • Value Estimation by Request
      0.06 Acres

      838 Racine Ave, Unit P4

      RESIDENTIAL PARKING GARAGE • 0.06 Acres
      838 Racine Ave, Chicago, IL 60642-4289
      View Details
    • Value Estimation by Request
      0.78 Acres

      520 Halsted St, Unit P-107

      RESIDENTIAL PARKING GARAGE • 0.78 Acres
      520 Halsted St, Chicago, IL 60642-7369
      View Details
    • Value Estimation by Request
      0.26 Acres

      1353 Grand Ave, Unit P15

      RESIDENTIAL PARKING GARAGE • 0.26 Acres
      1353 Grand Ave, Chicago, IL 60642-6441
      View Details
    • Value Estimation by Request
      0.07 Acres

      1409 Superior St, Unit P2

      RESIDENTIAL PARKING GARAGE • 0.07 Acres
      1409 Superior St, Chicago, IL 60642-5248
      View Details

    Similar Nearby for Sale

    • $2,999,000
      21,000 SF

      Bow Truss Building For Sale

      21,000 SF bow truss building with large parking lot.
      4536 N Elston Ave, Chicago, IL 60642
      View Details
    • $2,850,000
      8,870 SF

      Retail Strip Center For Sale

      8,870 RSF retail strip center with high visibility.
      5217 N Milwaukee Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      2,779 SF

      Chicago Ave Restaurant - For Sale

      Profitable West Town Restaurant, 2779 SF
      1329 Chicago Ave, Chicago, IL 60642
      View Details
    • $150,000
      3,557 SF

      River West Restaurant Opportunity

      Turnkey Chicago Restaurant, 3557 SF
      0 Confidential Riv, Chicago, IL 60642
      View Details
    • Contact for pricing
      6,750 SF

      River West Multi-Use Investment

      6,750 SF Multi-Use Property, Chicago
      886-888 Milwaukee Ave, Chicago, IL 60642
      View Details
    • $5,920,000
      11,370 SF

      Mixed-Use Building with Retail Space

      Two-story mixed-use building with retail and medical tenants.
      1455 N Milwaukee Ave, Chicago, IL 60642
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr

      Prime Retail Space with Basement

      High-visibility retail space with full basement near public transportation.
      1582 N Clybourn Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      20,020 SF

      Halsted Street Retail Space Available

      Retail space with high visibility and dedicated parking.
      3224-3240 N Halsted St, Chicago, IL 60642
      View Details
    • Contact for pricing
      15,149 SF

      Lincoln Park Anchor Opportunity

      Rare anchor opportunity in Lincoln Park near entertainment and retail.
      1460 N Halsted St, Chicago, IL 60642
      View Details
    • Contact for pricing
      4,802 SF

      Chicago Truck Terminal and Repair

      71,290 SF terminal and repair buildings near downtown Chicago.
      2353 S Throop St, Chicago, IL 60642
      View Details
    • $45 SF/Yr
      1 SF

      West Town Retail Space Available

      New retail space in a vibrant, growing West Town neighborhood.
      1162 N Milwaukee Ave, Chicago, IL 60642
      View Details
    • $40 SF/Yr

      Unique Space in Polish Triangle

      2,800 SF space with high ceilings and great visibility.
      1551 W Division St, Chicago, IL 60642
      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.
    407 Elizabeth St, Unit P15
    Chicago, IL 60642-6410
    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

    Google sign-in failed. Please try again or use another login method.