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

    60 Erie St, Unit P8 Chicago, IL 60654-4691

    • Parking lots & garages
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2025
    $1,415,000
    Value Estimations
    $1,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1558984
    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

    • Elite Security Camera Installation / Security Service / General Contractor
    • Lloyd Law Group / Law Firm
    • Chicago Tuckpointers Masonry Restoration / General Contractor / Construction Company
    • Chicago Gutter Guards Installation / Hardware & Home Improvement / General Contractor

    Property Details for 60 Erie St

    Year built
    2001
    Lot size
    0.21 lot acres
    Property type
    Parking lots & garages
    APN
    17-09-219-024-1032
    APU
    17092190241032

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,745,000
      ML approach
      $1,585,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6305
    Latitude
    41.8943
    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
    $1,617
    $525
    $7,336
    $7,861
    -
    $5,250
    $73,360
    $78,610

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      201 Grand Ave, Unit P-40

      RESIDENTIAL PARKING GARAGE • 0.20 Acres
      201 Grand Ave, Chicago, IL 60654-4790
      View Details
    • Value Estimation by Request
      0.74 Acres

      501 Clinton St, Unit P-414

      RESIDENTIAL PARKING GARAGE • 0.74 Acres
      501 Clinton St, Chicago, IL 60654-6589
      View Details
    • Value Estimation by Request
      0.48 Acres

      451 Huron St, Unit P144

      RESIDENTIAL PARKING GARAGE • 0.48 Acres
      451 Huron St, Chicago, IL 60654-4567
      View Details
    • Value Estimation by Request
      0.74 Acres

      501 Clinton St, Unit P-124

      RESIDENTIAL PARKING GARAGE • 0.74 Acres
      501 Clinton St, Chicago, IL 60654-6589
      View Details
    • Value Estimation by Request
      0.28 Acres

      330 Grand Ave, Unit P36

      RESIDENTIAL PARKING GARAGE • 0.28 Acres
      330 Grand Ave, Chicago, IL 60654-5264
      View Details
    • Value Estimation by Request
      0.85 Acres

      33 Ontario St, Unit P-N01

      RESIDENTIAL PARKING GARAGE • 0.85 Acres
      33 Ontario St, Chicago, IL 60654-7760
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Parking Spot in Chicago

      Parking spot available for unit owners in the building.
      421 W Huron St, Chicago, IL 60654
      View Details
    • Contact for pricing

      Heated Indoor Parking Space

      Indoor parking space in the heart of River North.
      630 N Franklin St, Chicago, IL 60654
      View Details
    • Contact for pricing

      Prime Parking Space For Sale

      Parking space conveniently located near elevator access.
      303 W Ohio St, Chicago, IL 60654
      View Details
    • Contact for pricing

      Indoor Attached Garage For Sale

      Indoor attached garage for sale; owner in building required.
      520 W Huron St, Chicago, IL 60654
      View Details
    • Contact for pricing

      Heated Indoor Parking Space

      Indoor parking space available for condo owners.
      303 W Ohio St, Chicago, IL 60654
      View Details
    • Contact for pricing

      River North Deeded Parking Space

      Indoor parking space in River North location, Chicago.
      630 N State St, Chicago, IL 60654
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Creative Loft in River North

      Creative brick and timber loft space in River North.
      445 W Erie St, Chicago, IL 60654
      View Details
    • $40 SF/Yr
      8,000 SF

      Prime River North Retail Space

      High-profile corner retail space in a prime River North location.
      215-675 W Huron St, Chicago, IL 60654
      View Details
    • Contact for pricing
      949 SF

      River North Mixed-Use Space

      Office, retail, or restaurant space in River North.
      427 N Clark St, Chicago, IL 60654
      View Details
    • Contact for pricing
      2,260 SF

      Medical and Spa Space Available

      Second-generation medical and spa spaces in a high-traffic location.
      730 N La Salle Dr, Chicago, IL 60654
      View Details
    • Contact for pricing
      3,569 SF

      Retail Space in Prime Location

      Retail space beneath Starbucks, surrounded by restaurants, hotels, and retail.
      108 W Hubbard St, Chicago, IL 60654
      View Details
    • Contact for pricing
      5,000 SF

      South Loop Turnkey Restaurant Space

      Modern, fully equipped restaurant space in prime South Loop location.
      700 S Clark St, Chicago, IL 60654
      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.
    60 Erie St, Unit P8
    Chicago, IL 60654-4691
    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!