Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    615 41st St Chicago, IL 60609-2643

    Property Lookup

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

    615 41st St Chicago, IL 60609-2643

    View on Map
    • Industrial properties
    • 20,400 SF
    • 1.86 lot acres
    Off-Market
    Property ID
    US28-2231238
    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
    $1,355,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • First Transit - Chicago / Freight Service / Logistics Company

    Property Details for 615 41st St

    Year built
    1952
    Lot size
    1.86 lot acres
    Property size
    20,400 SF
    Property type
    Industrial properties
    APN
    20-04-114-051
    APU
    2004114051

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,205,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6416
    Latitude
    41.8198
    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
    $65,947
    $50,528
    $247,083
    $297,611
    -
    $202,112
    $988,332
    $1,190,444

    Comparable in this City

    • Value Estimation by Request
      0.63 Acres

      1018 36th St

      INDUSTRIAL (GENERAL) • 0.63 Acres
      1018 36th St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.05 Acres

      3632 Ashland Ave

      INDUSTRIAL (GENERAL) • 0.05 Acres
      3632 Ashland Ave, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.05 Acres

      4127 Ashland Ave

      INDUSTRIAL (GENERAL) • 0.05 Acres
      4127 Ashland Ave, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.05 Acres

      3650 Ashland Ave

      INDUSTRIAL (GENERAL) • 0.05 Acres
      3650 Ashland Ave, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.07 Acres

      4552 Ashland Ave

      INDUSTRIAL (GENERAL) • 0.07 Acres
      4552 Ashland Ave, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      0.07 Acres

      2247 Garfield Blvd

      INDUSTRIAL (GENERAL) • 0.07 Acres
      2247 Garfield Blvd, Chicago, IL 60609
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      520,000 SF

      520,000 SF Freestanding Building

      520,000 SF building on 6.31 acres in Chicago, IL.
      2055 W Pershing Rd, Chicago, IL 60609
      View Details
    • Contact for pricing

      Industrial Property in Chicago

      Industrial property available for sale in Chicago, Illinois.
      1104 W 43Rd St, Chicago, IL 60609
      View Details
    • Contact for pricing
      155,000 SF

      Income Producing Bridgeport Multi-Story Building

      Multi-story building with parking and vacant land in Bridgeport.
      3636 S Iron St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Stockyards Industrial Building For Sale

      37,962 SF industrial building in Stockyards Industrial Park.
      4141 South Peoria St, Chicago, IL 60609
      View Details
    • $425,000

      Freestanding Warehouse Near I-90 Access

      20,000 SF warehouse with expansion capabilities and I-90 access.
      124 West 47Th St, Chicago, IL 60609
      View Details
    • $35,000,000

      Chicago Cold Storage Facility

      224,878 SF cold storage facility in Chicago Stockyards.
      1556 W 43Rd St, Chicago, IL 60609
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo

      Well-Maintained Warehouse with Fenced Lot

      7,000 SF warehouse with fenced lot near Halsted.
      834 W 49Th Pl, Chicago, IL 60609
      View Details
    • Contact for pricing
      99,530 SF

      New Industrial Building, Chicago

      99,530 SF industrial building with freezer/cooler space, delivery July 2025.
      3815 S Ashland Ave, Chicago, IL 60609
      View Details
    • Contact for pricing

      Crane-Served Building on Western Blvd

      Industrial building with heavy power, cranes, and outside storage.
      5301-5323 S Western Blvd, Chicago, IL 60609
      View Details
    • Contact for pricing
      2,845 SF

      Renovated Historic Office Space

      Historic office space with modern renovations and on-site parking.
      1010-1038 W 35Th St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Bronzeville Commercial Space For Lease

      Freestanding building with flexible space in Chicago's Bronzeville neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Chicago Flex Industrial Space Available

      Divisible flex, industrial, and office space for rent.
      2005 West 43Rd St, Chicago, IL 60609
      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.
    615 41st St
    Chicago, IL 60609-2643
    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!