Add Listing
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

    42 Garfield Blvd Chicago, IL 60609-6323

    • Residential income homes
    • 2,752 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    May 28, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1702372
    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 42 Garfield Blvd

    Year built
    1888
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    2,752 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    20-09-422-083
    APU
    2009422083

    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
    -87.6273
    Latitude
    41.7949
    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
    $0.00
    $2,031
    $8,968
    $10,999
    -
    $20,310
    $89,680
    $109,990

    Comparable in this City

    • Value Estimation by Request
      2,712 SF

      5352 Princeton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,712 SF
      5352 Princeton Ave, Chicago, IL 60609-6211
      View Details
    • Value Estimation by Request
      2,340 SF

      5000 Princeton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,340 SF
      5000 Princeton Ave, Chicago, IL 60609-4520
      View Details
    • Value Estimation by Request
      2,016 SF

      4358 Princeton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,016 SF
      4358 Princeton Ave, Chicago, IL 60609-3627
      View Details
    • Value Estimation by Request
      1,848 SF

      5006 Princeton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,848 SF
      5006 Princeton Ave, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      2,544 SF

      5106 Princeton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,544 SF
      5106 Princeton Ave, Chicago, IL 60609-6234
      View Details
    • Value Estimation by Request
      2,068 SF

      5327 Princeton Ave, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,068 SF
      5327 Princeton Ave, Chicago, IL 60609-6212
      View Details

    Similar Nearby for Sale

    • $3,500,000
      0.29 Acres

      Chicago Mixed-Use Elevator Building

      Upscale mixed-use property with apartments and commercial units in Chicago.
      718 W 47Th St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Elevator Building with Commercial Units

      Upscale mixed-use building with apartments and commercial spaces for sale.
      718 W 47Th St, Chicago, IL 60609
      View Details
    • $225,000
      3,000 SF

      Chicago Mixed-Use Investment Opportunity

      Retail and residential property with redevelopment potential in Chicago.
      4800 S Wood St, Chicago, IL 60609
      View Details
    • $469,000

      Updated Income Property Near Sherman Park

      Updated 3-flat near Sherman Park, ideal for investors/owner-occupants.
      5125 S Elizabeth St, Chicago, IL 60609
      View Details
    • $5,900,000

      Historic Lofts Development Opportunity

      Development opportunity with approved plans for 159 residential units.
      2139-59 West Pershing Rd, Chicago, IL 60609
      View Details
    • $359,999

      Chicago Three-Flat Residential Income Property

      Three-unit building near schools, parks, and transportation.
      4446 S Wood St, Chicago, IL 60609
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Location on 47th Street

      Commercial space with apartment in bustling Chicago location.
      1745 W 47Th St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Self-Storage Facility with Indoor Vehicle Storage

      Chicago self-storage facility with climate control and vehicle storage.
      1919 W Pershing Rd, Chicago, IL 60609
      View Details
    • $5 SF/Yr

      Clock Tower Industrial Center Space

      1.3 million SF industrial, studio, and warehouse space for lease.
      1965 W Pershing Rd, Chicago, IL 60609
      View Details
    • Contact for pricing
      180,900 SF

      New Construction Warehouse Space Available

      New 180,900 SF warehouse in Chicago's Stockyards Industrial Park.
      4002 South Princeton Ave, Chicago, IL 60609
      View Details
    • $12 SF/Yr
      8,500 SF

      Office Space with High Ceilings

      Office space featuring 14' ceilings, close to airport.
      3838 W 51St St, Chicago, IL 60609
      View Details
    • $1,300 /Mo
      1,000 SF

      Archer Avenue Storefront Retail Space

      Affordable storefront on busy Archer Ave with excellent visibility.
      3551-3561 S Archer Ave, Chicago, IL 60609
      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.
    42 Garfield Blvd
    Chicago, IL 60609-6323
    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.
    Sign Up Successful!
    You now have access to more from Realmo!