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

    550 Devon Ave Ste, Unit 100 Itasca, IL 60143-2632

    • Commercial real estate
    • 2,782 SF
    • 3.80 lot acres
    OFF-MARKET
    Last Sale
    Jun 24, 2021
    $190,000
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0105474
    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 550 Devon Ave Ste

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.80 lot acres
    Property size
    2,782 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    03-05-104-001
    APU
    305104001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $337,000
      Market price range: $232k - $753k
      AI Estimate
      $182,000
      Market price range: $143k - $371k

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

    Location Insight

    • Map
    • Local Demand
    City
    Itasca
    County
    Dupage
    State
    Illinois
    Longitude
    -88.0082
    Latitude
    41.992
    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
    $5,291
    $17,890
    $51,480
    $69,370
    -
    $53,670
    $154,440
    $208,110

    Comparable in this City

    • Value Estimation
      $340,000
      0.21 Acres

      110 Ctr St

      COMMERCIAL (GENERAL) • 0.21 Acres
      110 Ctr St, Itasca, IL 60143-1704
      View Details
    • Value Estimation
      $340,000
      0.78 Acres

      308 Irving Park Rd

      COMMERCIAL (GENERAL) • 0.78 Acres
      308 Irving Park Rd, Itasca, IL 60143-2038
      View Details
    • Value Estimation
      $665,000
      5.47 Acres

      150 Pierce Rd

      COMMERCIAL (GENERAL) • 5.47 Acres
      150 Pierce Rd, Itasca, IL 60143-1222
      View Details
    • Value Estimation
      $180,000
      1,353 SF

      650 Devon Ave Ste, Unit 195

      COMMERCIAL (GENERAL) • 1,353 SF
      650 Devon Ave Ste, Itasca, IL 60143-3144
      View Details
    • Value Estimation
      $355,000
      1,833 SF

      1251 Irving Park Rd

      COMMERCIAL (GENERAL) • 1,833 SF
      1251 Irving Park Rd, Itasca, IL 60143-1512
      View Details
    • Value Estimation
      $180,000
      2,408 SF

      351 Rohlwing Rd

      COMMERCIAL (GENERAL) • 2,408 SF
      351 Rohlwing Rd, Itasca, IL 60143-1900
      View Details

    Similar Nearby for Sale

    • $16,999,999
      25.00 Acres

      Itasca Land Redevelopment Opportunity

      25 Acres, Prime Location, High Potential
      5N210 Central Rd, Itasca, IL 60143
      View Details
    • Contact for pricing
      13,600 SF

      High-End Itasca Office Space

      13,600 SF Office/Retail, Excellent Condition
      125 Prospect Ave, Wood Dale, IL 60143
      View Details
    • Contact for pricing
      251,909 SF

      Itasca Industrial Building For Sale

      251,909 SF industrial building in Itasca, Illinois.
      1455 W Thorndale Ave, Itasca, IL 60143
      View Details
    • $950,000
      400 SF

      Itasca Gas Station Investment

      High-Volume BP Station, Great Location
      1149 Irving Park Rd, Itasca, IL 60143
      View Details
    • Contact for pricing
      7,000 SF

      Itasca Warehouse with Retail Exposure

      7,000 SF warehouse with retail exposure in Itasca, IL.
      115 N Prospect Ave, Itasca, IL 60143
      View Details
    • Contact for pricing
      0.17 Acres

      Vacant Land in Itasca Historic District

      Vacant land in downtown Itasca, perfect for restaurant development.
      100 S Walnut St, Itasca, IL 60143
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      65,950 SF

      Itasca Medical Office for Sale

      Single-tenant medical office, prime location.
      650 Devon Ave, Itasca, IL 60143
      View Details
    • Contact for pricing
      38,649 SF

      Itasca Industrial Manufacturing Space

      38,649 SF Manufacturing Space Available
      1035 Hilltop Dr, Itasca, IL 60143
      View Details
    • Contact for pricing

      Hamilton Lakes Development Land Available

      Over 3.5 acres for development in Hamilton Lakes Business Park.
      Park Blvd, Itasca, IL 60143
      View Details
    • $22 SF/Yr
      9,334 SF

      Class A Office Space Available

      Three-story Class A office building with amenities and great access.
      555 Pierce Rd, Itasca, IL 60143
      View Details
    • Contact for pricing
      24,257 SF

      Industrial Building in Itasca

      24,257 SF building with flexible lease terms available.
      700 Hilltop Dr, Itasca, IL 60143
      View Details
    • $7 SF/Yr
      125,955 SF

      Itasca Warehouse Space Available

      125,955 square foot warehouse space for lease.
      1131 Bryn Mawr Ave, Itasca, IL 60143
      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.
    550 Devon Ave Ste, Unit 100
    Itasca, IL 60143-2632
    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.