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

    633 47th St Chicago, IL 60609

    • Residential income homes
    • 3,432 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Jul 11, 2023
    $850,000
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    6%
    Residential income homes
    Location Intelligence
    Property ID
    US28-1396914
    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

    • Residential income homes

    Property Details for 633 47th St

    Year built
    1883
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    3,432 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    20-09-101-008
    APU
    2009101008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $945,000
      ML approach
      $925,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $955,000
      6.5%
      $880,000
      7%
      $815,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $820,000
      RETAIL STORES
      $650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.642
    Latitude
    41.8087
    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
    $3,761
    $2,850
    $15,434
    $18,284
    -
    $28,500
    $154,340
    $182,840

    Comparable in this City

    • Value Estimation by Request
      2,965 SF

      5315 Hermitage Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,965 SF
      5315 Hermitage Ave, Chicago, IL 60609-5744
      View Details
    • Value Estimation by Request
      1,440 SF

      4843 Marshfield Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,440 SF
      4843 Marshfield Ave, Chicago, IL 60609-4555
      View Details
    • Value Estimation by Request
      1,628 SF

      5408 Wls St, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,628 SF
      5408 Wls St, Chicago, IL 60609-6220
      View Details
    • Value Estimation by Request
      2,034 SF

      2320 35th Pl, Unit 2

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,034 SF
      2320 35th Pl, Chicago, IL 60609-1003
      View Details
    • Value Estimation by Request
      1,800 SF

      724 47th Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,800 SF
      724 47th Pl, Chicago, IL 60609-4405
      View Details
    • Value Estimation by Request
      3,312 SF

      5256 Wls St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,312 SF
      5256 Wls St, Chicago, IL 60609-6207
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Two-Unit Building: Fix and Flip

      Two-unit building suitable for investors or owner-occupants.
      5338 S Wood St, Chicago, IL 60609
      View Details
    • $824,000
      0.07 Acres

      Chicago Multifamily Investment Opportunity

      Turnkey investment property with fifteen bedrooms and reliable tenants.
      1908 W 48Th St, Chicago, IL 60609
      View Details
    • $225,000
      0.07 Acres

      Chicago Mixed-Use Investment Opportunity

      Retail and residential property with redevelopment potential in Chicago.
      4800 S Wood St, Chicago, IL 60609
      View Details
    • $265,000
      0.07 Acres

      Mixed-Use Building in Chicago

      Three-unit building with retail and residential spaces for sale.
      5434 S Union Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      1,405 SF

      Spacious Loft Condo in McKinley Park

      Large 2 bed/2 bath condo with deeded parking and amenities.
      2323 W Pershing Rd, Chicago, IL 60609
      View Details
    • $5,900,000
      320,000 SF

      Historic Lofts Development Opportunity

      Development opportunity with approved plans for 159 residential units.
      2139-59 West Pershing Rd, Chicago, IL 60609
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mckinley Park 2BD/2BTH Apartment

      Spacious 2BD/2BTH unit with modern amenities, available September 1st.
      3541 S Hamilton Ave, Chicago, IL 60609
      View Details
    • Contact for pricing

      Prime Location on 47th Street

      Commercial space with apartment in bustling Chicago location.
      1745 W 47Th St, Chicago, IL 60609
      View Details
    • Contact for pricing
      35,909 SF

      Industrial Space in Stockyards

      Industrial building with access to major interstates and downtown Chicago.
      4031 S Racine Ave, Chicago, IL 60609
      View Details
    • $20 SF/Yr
      6,658 SF

      Versatile Chicago Filming and Event Space

      32,080 SF filming space with studios and event venue.
      3622 S Morgan St, Chicago, IL 60609
      View Details
    • Contact for pricing
      850 SF

      Archer Avenue Storefront Retail Space

      Affordable storefront on busy Archer Ave with excellent visibility.
      3551-3561 S Archer Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      56,264 SF

      Halsted Pershing Business Center Space

      Available warehouse space at Halsted Pershing Business Center.
      815 West Pershing Rd, 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.
    633 47th St
    Chicago, IL 60609
    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.