Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    5000 Justine St Chicago, IL 60609

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5078499
    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

    • Commercial real estate

    Property Details for 5000 Justine St

    Property type
    Commercial real estate
    APN
    20-08-124-049-0000

    Description

    This exceptional 2,783 square foot residential lot, located at 5000 S Justine St in Chicago, IL, presents a remarkable investment opportunity. Zoned RT-4, this vacant land offers significant potential for development within Cook County. The property, identified by APN 20-08-124-049-0000, is owned free and clear, meaning there are no liens or encumbrances. The asking price is an attractive $6,000, and the seller is offering flexibility in closing costs, making this an especially appealing proposition for buyers seeking a low down payment. The property's location in the 60609 zip code provides convenient access to Chicago's amenities and infrastructure. This is a rare chance to acquire a well-situated, affordable residential lot in a desirable Chicago neighborhood. The land is ready for immediate development, making it an ideal investment for builders or those looking to construct a new home. Act quickly to secure this exceptional opportunity.

    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
    -87.663626108081
    Latitude
    41.803056152936

    Comparable in this City

    • $5,900,000
      320,000 SF

      Historic Lofts Development Opportunity

      Development opportunity with approved plans for 159 residential units.
      2139-59 West Pershing Rd, Chicago, IL 60609
      View Details
    • $1,500,000

      Halsted Street Development Opportunity

      45,000 SF Chicago Land, B3-2 Zoning
      4619 Halsted St, Chicago, IL 60609
      View Details
    • $220,000

      Chicago Residential Income Property

      Three rental units in Chicago's 60609 ZIP code.
      5131 S May St, Chicago, IL 60609
      View Details
    • $190,000
      1,154 SF

      McKinley Park Condo with Den

      Bright, open 1-bedroom condo with den and private terrace.
      2323 W Pershing Rd, Chicago, IL 60609
      View Details
    • $225,000

      Chicago Residential Income Opportunity

      Multifamily property with coach house and potential for expansion.
      1212 W 51St St, Chicago, IL 60609
      View Details
    • $350,000

      Spacious Multi-Unit Property in Chicago

      Three-unit property with over 10 bedrooms and 5 bathrooms.
      5013 S Bishop St, Chicago, IL 60609
      View Details

    Similar Nearby for Sale

    • $5,900,000
      320,000 SF

      Historic Lofts Development Opportunity

      Development opportunity with approved plans for 159 residential units.
      2139-59 West Pershing Rd, Chicago, IL 60609
      View Details
    • $1,500,000

      Halsted Street Development Opportunity

      45,000 SF Chicago Land, B3-2 Zoning
      4619 Halsted St, Chicago, IL 60609
      View Details
    • $179,999

      Two-Unit Building: Fix and Flip

      Two-unit building suitable for investors or owner-occupants.
      5338 S Wood St, Chicago, IL 60609
      View Details
    • $180,000

      Chicago Two-Flat Investment Opportunity

      Two-flat residential income property in Chicago's New City area.
      2103 W 52Nd St, Chicago, IL 60609
      View Details
    • $824,000
      0.07 Acres

      Chicago Multifamily Investment Opportunity

      Turnkey investment property with fifteen bedrooms and reliable tenants.
      1908 W 48Th St, Chicago, IL 60609
      View Details
    • $265,900
      0.08 Acres

      Mixed-Use Corner Building in Chicago

      Mixed-use corner building with storefront and rental apartment.
      4629 S Ashland Ave, 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
    • $2,100 /Mo

      Mckinley Park 2BD/2BTH Apartment

      Spacious 2BD/2BTH unit with modern amenities, available September 1st.
      3541 S Hamilton Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      99,407 SF

      Chicago Cold Storage Warehouse

      Massive Refrigerated Space - Ideal for Distribution
      3815 Ashland Ave, Chicago, IL 60609
      View Details
    • $12,500 /Mo
      3,800 SF

      Industrial Space with Overhead Door

      3,800 SF industrial space featuring an overhead door.
      5401-5425 N Wolcott Ave, Chicago, IL 60609
      View Details
    • Contact for pricing

      Premier Office Space in Chicago

      11,185 sq ft office space for lease in Bronzeville.
      5050 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Versatile Commercial Space in Bronzeville

      17,749 SF commercial space in Chicago's transforming Bronzeville neighborhood.
      5010 S State St, 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.
    5000 Justine St
    Chicago, IL 60609
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.