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    481 Main St, Unit 83 Glen Ellyn, IL 60137-8401
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    Property profile & analytics

    481 Main St, Unit 83, Glen Ellyn, IL 60137-8401

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    • Investment properties
    • 6,213 SF
    • 0.15 lot acres
    Off-Market
    Last Sale Aug 2, 2023
    $400,000
    Property ID
    US28-5773404
    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

    • Investment properties

    Property Details for 481 Main St

    Year built
    1912
    Lot size
    0.15 lot acres
    Zone code
    C
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    05-11-317-003
    APU
    511317003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 2, 2023 $1,100,000 Genesis Venture LLC Genesis Venture LLC Warranty Deed · related $750k · International Bank Of Chicago
    Mar 22, 2019 — Richard D Somolik SR. Richard D Somolik JR Intrafamily Transfer · related $595k · Lisle Savings Bank
    Mar 28, 2003 $400,000 Richard D Somolik JR. Snyder,alexander Grant Deed $450k · Lisle Savings Bank
    — — Richard D Somolik SR. — Deed Of Trust · related $600k · Lisle Savings Bank

    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
    -88.0663
    Latitude
    41.877
    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
    2023
    $20,940
    $71,090
    $205,520
    $276,610
    -
    $213,270
    $616,560
    $829,830

    Comparable in this City

    • Value Estimation
      $845,000
      5,705 SF

      482 Main St Ste A

      STORE/OFFICE (MIXED USE)
      482 Main St Ste A, Glen Ellyn, IL 60137-5181
      View Details
    • Value Estimation
      $1,265,000
      10,440 SF

      421 Main St

      STORE/OFFICE (MIXED USE)
      421 Main St, Glen Ellyn, IL 60137-5105
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    • Value Estimation by Request
      0.01 Acres

      Cres Blvd

      STORE/OFFICE (MIXED USE)
      Cres Blvd, Glen Ellyn, IL 60137
      View Details
    • Value Estimation
      $1,670,000
      12,908 SF

      544548 Cres Blvd

      STORE/OFFICE (MIXED USE)
      544548 Cres Blvd, Glen Ellyn, IL 60137
      View Details
    • Value Estimation
      $895,000
      6,904 SF

      540 Duane St

      STORE/OFFICE (MIXED USE)
      540 Duane St, Glen Ellyn, IL 60137-4685
      View Details
    • Value Estimation
      $1,300,000
      11,018 SF

      419 Main St

      STORE/OFFICE (MIXED USE)
      419 Main St, Glen Ellyn, IL 60137-5101
      View Details

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      14,543 SF

      Glen Ellyn Retail Space

      Retail space available for sale in Glen Ellyn, Illinois.
      840 N Main St, Glen Ellyn, IL 60137
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    • $328,000

      Glen Ellyn Land For Sale

      Land available in Glen Ellyn, Illinois.
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    • $169,900

      Land Available in Glen Ellyn

      Land for sale in DuPage County, Glen Ellyn, Illinois.
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    Similar Nearby for Lease

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      Freestanding retail building with high visibility and parking.
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      1,200 SF

      Glen Ellyn Retail Space Available

      Retail space in desirable Chicago suburb with high traffic.
      870-944 Roosevelt Rd, Glen Ellyn, IL 60137
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    • $14 SF/Yr

      Modern Office Building in Glendale

      14,517 SF office building in Glendale Heights, Illinois.
      739 North Ave, Glendale Heights, IL 60137
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    • Contact for pricing

      Retail Development in Glen Ellyn

      New retail development in the heart of Glen Ellyn trade area.
      750 Roosevelt Rd, Glen Ellyn, IL 60137
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    • Contact for pricing
      3,679 SF

      Glen Ellyn Office Space Available

      Office space for lease in Glen Ellyn, Illinois.
      45 S Park Blvd, Glen Ellyn, IL 60137
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    Property Visit Statistics

    • Visits by month
      4.7k
    • Visitors by month
      2.7k
    • Avg Time on site
      18 min
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    Glen Ellyn, IL 60137-8401
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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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