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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 Montgomery Rd Montgomery, IL 60538-1824

    • Commercial real estate
    • 2,366 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2024
    $700,000
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    4.2%
    Commercial real estate
    Location Intelligence
    Property ID
    US28-0435458
    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

    • Primos taco truck / Taco Restaurant
    • Montgomery Car Wash / Self Service Car Wash

    Property Details for 602 Montgomery Rd

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.30 lot acres
    Property size
    2,366 SF
    Property type
    Commercial real estate
    APN
    15-34-280-029
    APU
    1534280029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $700,000
      ML approach
      $700,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $490,000
      6.5%
      $450,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $470,000
      Market price range: $173k - $673k

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Kane
    State
    Illinois
    Longitude
    -88.3053
    Latitude
    41.7314
    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
    $7,410
    $22,174
    $88,589
    $110,763
    -
    $66,522
    $265,767
    $332,289

    Comparable in this City

    • Value Estimation by Request
      2.72 Acres

      By-pass Rt 30

      COMMERCIAL (GENERAL) • 2.72 Acres
      By-pass Rt 30, Montgomery, IL 60538
      View Details
    • Value Estimation
      $1,075,000
      4,160 SF

      1947 Rte 30

      COMMERCIAL (GENERAL) • 4,160 SF
      1947 Rte 30, Montgomery, IL 60538
      View Details
    • Value Estimation
      $515,000
      2,580 SF

      1601 Douglas Rd

      COMMERCIAL (GENERAL) • 2,580 SF
      1601 Douglas Rd, Montgomery, IL 60538-2162
      View Details
    • Value Estimation
      $645,000
      3,600 SF

      1385 Douglas Rd

      COMMERCIAL (GENERAL) • 3,600 SF
      1385 Douglas Rd, Montgomery, IL 60538-1651
      View Details
    • Value Estimation
      $1,685,000
      13,777 SF

      1799 Douglas Rd

      COMMERCIAL (GENERAL) • 13,777 SF
      1799 Douglas Rd, Montgomery, IL 60538-2170
      View Details
    • Value Estimation
      $525,000
      2,650 SF

      1950 Douglas Rd

      COMMERCIAL (GENERAL) • 2,650 SF
      1950 Douglas Rd, Montgomery, IL 60538-2419
      View Details

    Similar Nearby for Sale

    • $615,000
      3,064 SF

      Montgomery Mixed-Use Investment

      Five-unit income property, downtown location.
      313 Main St, Montgomery, IL 60538
      View Details
    • Contact for pricing
      262.00 Acres

      Prime 262-Acre Development Land

      Illinois commercial land, ideal for mixed-use development.
      0 Rte 30 & Orch Rd, Montgomery, IL 60538
      View Details
    • $4,846,050
      14.68 Acres

      Prime Retail Development Opportunity

      14.68 acre retail development site with high traffic exposure.
      1 Us 30, Montgomery, IL 60538
      View Details
    • $5,880,000

      Land with Development Potential

      Land suitable for residential or commercial development.
      3018 Fairfield Way, Montgomery, IL 60538
      View Details
    • $1,725,000

      Prime Commercial Land Opportunity

      5-acre commercial land parcel in Montgomery, Illinois.
      Dickson Rd, Montgomery, IL 60538
      View Details
    • $293,000

      Inviting Duplex with Finished Basement

      Move-in ready duplex with finished basement, new roof, and updates.
      2267 Margaret Dr, Montgomery, IL 60538
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse Space Available For Lease

      295,620 SF warehouse space available for lease in Montgomery, Illinois.
      2001 Baseline Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Prime Commercial Land for Lease

      High-traffic commercial land with multiple access points for lease.
      1050 Ogden Ave, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Prime Retail Space Available

      In-line retail space in high-traffic shopping district.
      2075 Orchard Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing
      8,000 SF

      Ogden Hill Retail Center Opportunity

      High-traffic retail space available.
      0 Us Highway 34, Oswego, IL 60538
      View Details
    • Contact for pricing

      Montgomery Warehouse Space for Rent

      5000 sq ft warehouse perfect for storage.
      170 Montgomery Rd, Montgomery, IL 60538
      View Details
    • Contact for pricing

      Prime Land for Lease

      Land with high traffic and multiple access points available for lease.
      Ogden Ave, Montgomery, IL 60538
      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.
    602 Montgomery Rd
    Montgomery, IL 60538-1824
    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.