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6154 W 111Th St, Chicago Ridge, IL 60415
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Property summary
AI-generated overview
The property is a remodeled, single-tenant commercial building totaling 2,242 square feet in Chicago Ridge, part of the Chicago metropolitan area. It is located on 111th Street, just west of the I-294 off-ramp, along a commercial corridor between industrial parks and residential areas. The building was configured as a Meineke location and is situated for exposure to high vehicular traffic on 111th Street. The immediate area is densely populated, with population concentrations reported as 15,000+ people within a 1-mile radius and 119,000+ people within a 3-mile radius.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1965
Lot
0.43 ac (18,828 SF)
APN
24-17-308-002
UPID
US28-1485064
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Auto Repair Shop
-
Auto Repair Shop
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$695k
Owner & transaction history
since 2024
Last sale
$695,000
7 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$695k
Value range
$626k – $765k
±10% around blend
Confidence
Property data
75
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$626k
blend $695k
$765k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
Lot area
0.43 ac
Year built
1965
Stories
1
APN
24-17-308-002
Assessed value
$49,502
Annual tax
$19,395
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$19,395
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$695k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 372 sales
$121
N/A
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
Not available
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
4.08%
Selected cap rate for this auto shops
Derived from the Chicago Ridge market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.08%
9.0%
NOI (est.)
$59k *
Last sale · Oct 2024
$695k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.44M
Move the market yield to see immediate price impact.
Value / SF
N/A
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.58%4.08%4.58%
$53k
$1.48M
$1.30M
$1.16M
$59k
$1.64M
$1.44M
$1.29M
$65k
$1.81M
$1.59M
$1.41M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$19,395
Tax year 2022
Assessed value
$49,502
Assessed 2022
Previous assessed
$49,502
+0.0% YoY
Effective rate
39.18%
On assessed value
Assessed land
$30,595
Assessed improvement
$18,907
Land market value
$122,380
Improvement market value
$75,628
Total market value
$198,008
Applied tax rate
39,032.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Sale
Year built
1965
Heating
NONE
Stories
1
Lot
0.43 ac (18,828 SF)
APN
24-17-308-002
UPID
US28-1485064
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
1965
Heating
NONE
Stories
1
Lot
0.43 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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