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

    502 Pratt N Ave Schaumburg, IL 60193-4555

    • Industrial properties
    • 2.45 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1124498
    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

    • Nexgen Hotels / Hotel & Motel
    • Masti Group Charitable Organization / Charitable Organization
    • PDA Loan / Loan Service
    • Sand 2 Llc / Loan Service
    • Urban Business Brokers / Business Broker

    Property Details for 502 Pratt N Ave

    Year built
    1990
    Lot size
    2.45 lot acres
    Property type
    Industrial properties
    APN
    07-33-203-064-1007
    APU
    7332030641007

    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
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.0925
    Latitude
    41.9992
    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
    $25,724
    $27,109
    $67,588
    $94,697
    -
    $108,436
    $270,352
    $378,788

    Comparable in this City

    • Value Estimation by Request
      2.48 Acres

      530 Pratt N Ave

      CONDOMINIUMS (INDUSTRIAL) • 2.48 Acres
      530 Pratt N Ave, Schaumburg, IL 60193-4555
      View Details
    • Value Estimation by Request
      2.48 Acres

      546 Pratt N Ave

      CONDOMINIUMS (INDUSTRIAL) • 2.48 Acres
      546 Pratt N Ave, Schaumburg, IL 60193-4555
      View Details
    • Value Estimation by Request
      2.89 Acres

      1905 Wright Blvd

      CONDOMINIUMS (INDUSTRIAL) • 2.89 Acres
      1905 Wright Blvd, Schaumburg, IL 60193-4556
      View Details
    • Value Estimation by Request
      0.55 Acres

      1304 Wright Blvd, Unit 2

      CONDOMINIUMS (INDUSTRIAL) • 0.55 Acres
      1304 Wright Blvd, Schaumburg, IL 60193-4423
      View Details
    • Value Estimation by Request
      0.69 Acres

      807 Estes Ave, Unit D

      CONDOMINIUMS (INDUSTRIAL) • 0.69 Acres
      807 Estes Ave, Schaumburg, IL 60193-4406
      View Details
    • Value Estimation by Request
      0.32 Acres

      505 Estes Ave

      INDUSTRIAL (GENERAL) • 0.32 Acres
      505 Estes Ave, Schaumburg, IL 60193-4428
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,000 SF

      Industrial Building on 1.98 Acres

      Free-standing industrial building with potential yard space and good parking.
      801-803 Albion Ave, Schaumburg, IL 60193
      View Details
    • $675,000
      5,995 SF

      Schaumburg Industrial/Warehouse Space For Sale

      5,995 SF industrial/warehouse space with office and executive lounge.
      935 Lunt Ave, Schaumburg, IL 60193
      View Details
    • $1,200,000

      Industrial Building with Showroom, Repair

      Industrial building with showroom, repair shop, and parking.
      1212 Mitchell Blvd, Schaumburg, IL 60193
      View Details
    • $1,290,000

      Schaumburg Industrial Building with Parking

      Versatile property with warehouse, office, and large parking lot.
      515 Lunt Ave, Schaumburg, IL 60193
      View Details
    • $1,290,000
      Pending

      Schaumburg Industrial Building with Parking

      Versatile industrial building with warehouse, office, and parking.
      515 Lunt Ave, Schaumburg, IL 60193
      View Details
    • $2,050,000
      15,000 SF

      Schaumburg Freestanding Industrial Building

      15,000 SF freestanding building with office space and parking.
      801 Albion Ave, Schaumburg, IL 60193
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Warehouse Space in Schaumburg

      Flexible warehouse space near I-390, Route 53, and I-90.
      502 Morse Ave, Schaumburg, IL 60193
      View Details
    • Contact for pricing
      83,124 SF

      Schaumburg Warehouse Space Available

      New warehouse space available in Schaumburg, Q4 2024 delivery.
      1000 Albion Ave, Schaumburg, IL 60193
      View Details
    • Contact for pricing
      14,279 SF

      Industrial Facility in Northwest Cook

      Free-standing industrial facility in dynamic Northwest Cook submarket available for rent.
      515 Morse Ave, Schaumburg, IL 60193
      View Details
    • Contact for pricing

      Schaumburg Industrial Warehouse Space

      Flexible warehouse space near I-390, Route 53, and I-90.
      502 Morse Ave, Schaumburg, IL 60193
      View Details
    • Contact for pricing

      Schaumburg Office Warehouse Space

      Office unit with warehouse in prime Woodfield location.
      1254 Remington Rd, Schaumburg, IL 60193
      View Details
    • $495 /Mo
      30 SF

      Schaumburg Trailer Parking Available

      30-acre trailer parking lot with 635 spots for lease.
      1001 West Irving Park Rd, Schaumburg, IL 60193
      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.
    502 Pratt N Ave
    Schaumburg, IL 60193-4555
    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!