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    424 Forest Ave Glen Ellyn, IL 60137
    Property profile & analytics

    424 Forest Ave Glen Ellyn, IL 60137

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    • Commercial real estate
    Off-Market
    Property ID
    US28-1267004
    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

    • Commercial real estate

    Property Details for 424 Forest Ave

    Property type
    Commercial real estate
    APN
    0511328025

    Description

    This exceptional commercial land offering presents a unique redevelopment opportunity in the heart of Glen Ellyn, Illinois. Located at 424 Forest Ave, this 12,000 square foot site (comprising the northern portion of an existing church property) is zoned to allow for a building height of up to 45 feet. The property's prime location offers unparalleled access to a wealth of amenities, including upscale restaurants, parks, and the Glen Ellyn train station, all within walking distance. Its adjacency to the new Glen Ellyn Municipal parking lot further enhances its appeal. This infill site presents a rare chance to develop a significant project, with potential for approximately 30,000 to 36,000 square feet of construction. Preliminary estimations suggest the potential for 30+ residential units, making this an ideal investment for developers seeking a high-impact project in a thriving downtown location. The property's APN is 0511328025. The asking price is $2,000,000. Don't miss this chance to acquire one of the last remaining infill sites in Glen Ellyn.

    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
    Glen Ellyn
    County
    DuPage
    State
    Illinois
    Longitude
    -88.065273855565
    Latitude
    41.875483587054

    Comparable in this City

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      Industrial Development Site in Glen Ellyn

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      4,100 SF

      Mixed-Use Building Near Metra Station

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      3,631 SF

      Glen Ellyn Office Building

      Move-in ready office building near Metra station with parking.
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    Similar Nearby for Sale

    • $169,900

      Land Available in Glen Ellyn

      Land for sale in DuPage County, Glen Ellyn, Illinois.
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    • $3,200,000
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      Commercial Land with Two Buildings

      2.2 acres with two buildings in retail corridor.
      675 Roosevelt Rd, Glen Ellyn, IL 60137
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    • $175,000
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      Glen Ellyn Commercial Land

      Commercial land available in Glen Ellyn, Illinois.
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    • $2,500,000
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      Industrial Development Site in Glen Ellyn

      5.95-acre industrial development site in DuPage County.
      1N450 Highland Ave, Glen Ellyn, IL 60137
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      4,100 SF

      Mixed-Use Building Near Metra Station

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      3,631 SF

      Glen Ellyn Office Building

      Move-in ready office building near Metra station with parking.
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    Similar Nearby for Lease

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      Glen Ellyn Retail Opportunity

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      Modern Office Building in Glendale

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      Retail Development in Glen Ellyn

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      3,679 SF

      Glen Ellyn Office Space Available

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      2,893 SF

      Glen Ellyn Retail Opportunity

      Freestanding retail building with high visibility and parking.
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      600 SF

      Glen Ellyn Office Space Available

      Office space for rent near Illinois Prairie Path.
      386 Pennsylvania Ave, Glen Ellyn, IL 60137
      View Details
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    424 Forest Ave
    Glen Ellyn, IL 60137
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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.

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