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Property profile & analytics

523 Chicago Ave East Chicago, IN 46312-3206

  • Medical offices
  • 960 SF
  • 0.34 lot acres
OFF-MARKET
Last Sale
Feb 01, 2023
Value Estimations
$225,000
Show details
Cap Rate Potential
5.5%
Medical offices
Location Intelligence
Property ID
US31-0441709
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

  • Medical offices

Property Details for 523 Chicago Ave

Year built
1940
Construction
WOOD
Lot size
0.34 lot acres
Property size
960 SF
Property type
Medical offices
Property subtype
Medical centers
APN
45-03-29-413-003.000-024
APU
450329413003000024

Description

This 963-square-foot medical office space in Lake County is immediately available. Located on high-traffic Chicago Avenue, this updated, single-story building offers convenient access and high visibility. Recent updates include gated asphalt parking and ample on-street parking. The interior features private restrooms, central air conditioning, and forced-air heating. Utilities are fully connected, including public sewer and water, cable, electricity, natural gas, and phone lines. This property is part of a larger complex with additional adjacent spaces available for lease individually or together, totaling nearly 4,000 square feet. The building's flexible layout can accommodate a variety of medical or office uses. The property's 1940 construction has been modernized for contemporary business needs. The building's location across from 529 W Chicago Avenue and adjacent to 525 and 527 W Chicago Avenue offers significant potential for expansion or synergy with related businesses. This is a turn-key opportunity for businesses seeking a well-maintained, conveniently located space in a high-traffic area. The APN is 450329413003000024.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    ML approach
    $245,000
  • CAP approach

    CAP Return
    Estimation
    6%
    $225,000
    6.5%
    $205,000
    7%
    $190,000
  • Alternative Use

    Use
    Estimation
    WAREHOUSE, STORAGE
    $160,000

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
East Chicago
County
Lake
State
Indiana
Longitude
-87.4775
Latitude
41.6289
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
$4,191
$56,100
$89,900
$146,000
-
$56,100
$89,900
$146,000
More about this property
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