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    6135 Fairfield Ave, Unit 1 Chicago, IL 60659-3199
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    6135 Fairfield Ave, Unit 1 Chicago, IL 60659-3199

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    • Residential income homes
    • 2,236 SF
    • 0.09 lot acres
    Off-Market
    Last Sale Sep 6, 2023
    $650,000
    Property ID
    US28-5234850
    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.
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    4.9%
    Residential income homes
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 6135 Fairfield Ave

    Year built
    1923
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Property size
    2,236 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    13-01-217-008
    APU
    1301217008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $765,000
      ML approach
      $750,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $620,000
      6.5%
      $575,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $446,000
      Market price range: $315k - $462k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $920,000
      NEIGHBORHOOD: SHOPPING CENTER
      $535,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6979
    Latitude
    41.9932
    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
    $7,720
    $12,379
    $25,155
    $37,534
    -
    $123,790
    $251,550
    $375,340

    Comparable in this City

    • Value Estimation
      $520,000
      3,408 SF

      5614 Christiana Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,408 SF
      5614 Christiana Ave, Chicago, IL 60659-4683
      View Details
    • Value Estimation by Request
      4,329 SF

      6325 Artesian Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,329 SF
      6325 Artesian Ave, Chicago, IL 60659-0078
      View Details
    • Value Estimation
      $720,000
      5,067 SF

      5644 Christiana Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,067 SF
      5644 Christiana Ave, Chicago, IL 60659-4576
      View Details
    • Value Estimation
      $590,000
      3,688 SF

      6309 Washtenaw Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,688 SF
      6309 Washtenaw Ave, Chicago, IL 60659-1776
      View Details
    • Value Estimation
      $995,000
      7,191 SF

      6215 Washtenaw Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,191 SF
      6215 Washtenaw Ave, Chicago, IL 60659-2634
      View Details
    • Value Estimation
      $790,000
      5,727 SF

      6320 Oakley Ave, Unit 3

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,727 SF
      6320 Oakley Ave, Chicago, IL 60659-2254
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,975 SF

      Mixed-Use Building in Rogers Park

      Three-story, seven-unit mixed-use building in a vibrant location.
      2944 W Devon Ave, Chicago, IL 60659
      View Details
    • $1,395,000
      6,187 SF

      West Ridge Multifamily Investment Opportunity

      Eight-unit building in West Ridge near amenities and transportation.
      6215 North Washtenaw Ave, Chicago, IL 60659
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    • New
      $695,000

      Chicago Two-Flat with Garden Apartment

      Classic brick two-flat with finished garden level in Arcadia Terrace.
      5814 N Campbell Ave, Chicago, IL 60659
      View Details
    • $1,149,000
      9,375 SF

      Mixed-Use Investment Opportunity in Arcadia

      Fully occupied mixed-use property with high traffic and development potential.
      5620 North Western Ave, Chicago, IL 60659
      View Details
    • Contact for pricing
      35,282 SF

      Chicago Multifamily Investment Opportunity

      Multifamily property with high occupancy and redevelopment potential.
      5875 N Lincoln Ave, Chicago, IL 60659
      View Details
    • Contact for pricing
      8,000 SF

      Three-Lot Mixed-Use Property

      Fully occupied three-lot property with redevelopment potential in Arcadia Terrace.
      5620 N Western Ave, Chicago, IL 60659
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      5,000 SF

      Prime Chicago Office Space

      Versatile Suites, West Rogers Park
      2945 Peterson Ave, Chicago, IL 60659
      View Details
    • Contact for pricing

      Chicago Office and Medical Building

      Office and medical building for lease in Peterson Park.
      3500 W Peterson Ave, Chicago, IL 60659
      View Details
    • Contact for pricing

      West Rogers Park Office Building

      Professionally managed office building in Chicago's West Rogers Park.
      5875 N Lincoln Ave, Chicago, IL 60659
      View Details
    • $28 SF/Yr

      Individual Office Space For Rent

      Small office space with utilities included in a secure building.
      5765 N Lincoln Ave, Chicago, IL 60659
      View Details
    • $20 SF/Yr

      Lincoln Avenue Retail Space Available

      Commercial space in a high-traffic area, suitable for various businesses.
      5801 N Lincoln Ave, Chicago, IL 60659
      View Details
    • Contact for pricing

      Rehabbed Corner Building For Sale

      Exquisitely maintained corner building with potential for multiple uses.
      3256 W Bryn Mawr Ave, Chicago, IL 60659
      View Details
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    6135 Fairfield Ave, Unit 1
    Chicago, IL 60659-3199
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    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
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