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Property profile & analytics
FOR LEASE
Retail space
6500 College Dr Palos Heights, IL 60463-1773
Entity Owned
~
Est. High Equity
Property ID
US28-0938453
For Lease
1 / 4
$24 SF/Yr
6500 College Dr, Palos Heights, IL 60463-1773
View Listing →
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1968
Total area
4,700 SF
Lot
0.77 ac (33,600 SF)
APN
24-30-201-032
UPID
US28-0938453
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
James H Himmel Law Offices Law Firm
-
United Insurance Services Insurance Agency
-
Trust Tax & Accounting Inc. Accounting Firm Tax Preparation
-
Assisting Hands Home Care - Palos Heights Aged Care Home Health Care Service
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$723k
Blend (final)
Blend
$750k
Owner & transaction history
6500 Cal Sag LLC
6500 Cal Sag LLC
since 2025
Last sale
$799,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.0M
+47.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Palos Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palos Heights submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,085,000
6.5%
$1,005,000
7%
$930,000
Alternative Use
Use
Estimation
RETAIL STORES
$700,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,030,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$630,000
Change: -10% · Conversion: Easy
AUTO REPAIR, GARAGE
$570,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $799k (Dec 9 2025)
Last sale anchor
$799k
Dec 9 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$160 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$75,401
Tax year 2022
Assessed value
$208,805
Assessed 2022
Previous assessed
$208,805
+0.0% YoY
Effective rate
36.11%
On assessed value
Assessed land
$54,600
Assessed improvement
$154,205
Land market value
$218,400
Improvement market value
$616,820
Total market value
$835,220
Applied tax rate
39,073.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Status
For Lease
Year built
1968
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
13
Bathrooms
5
Total area
4,700 SF
Lot
0.77 ac (33,600 SF)
APN
24-30-201-032
UPID
US28-0938453
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
OFFICE BUILDING
Est. value
$630,000
AUTO REPAIR, GARAGE
Est. value
$570,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
13
Bathrooms
5
Lot
0.77 ac
Current owner
From public records · entity-resolved
6500 Cal Sag LLC
Entity
Mailing address
6500 W COLLEGE DR, PALOS HEIGHTS, IL 60463-1773
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
26 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2025
$799,000
6500 Cal Sag LLC
6500 College LLC
Warranty Deed
$559,300 · Old National Bank
Nov 11, 2020
—
6500 College LLC
—
Deed
related
$1,000,000 · Fifth Third Bk NA
Sep 6, 2018
—
6500 College LLC
—
Deed
related
$357,086 · Mb Fin'l Bk
Sep 2, 2016
—
6500 College LLC
—
Deed
related
$1,441,000 · American Chartered Bk
Apr 21, 2005
—
6500 College LLC
—
Trustees Deed
related
$180,000 · Palos Bank & Trust
Oct 13, 2004
—
6500 College LLC
Trust 17240
Grant Deed
related
—
Mar 11, 2002
$650,000
Standard Bank & Trust Trustee
Northern Trust Co Trustee
Grant Deed
related
$500,000 · Standard Bank & Trust
—
—
6500 College LLC
—
Loan Modification
related
$500,000 · American Chartered Bk
—
—
6500 College LLC
—
Loan Modification
related
$1,000,000 · Fifth Third Bk NA
—
—
6500 College LLC
—
Loan Modification
related
$1,357,262 · Fifth Third Bk NA
—
—
6500 College LLC
—
Deed Of Trust
related
$250,000 · Palos Bank & Trust
—
—
6500 College LLC
—
Loan Modification
related
$357,086 · Mb Fin'l Bk
—
—
Trust 17240
—
Deed Of Trust
related
$600,000 · Palos Bank & Trust
—
—
Standard Bank & Trust Co Ttee
—
Deed Of Trust
related
$350,000 · Palos Bank & Trust
—
—
Standard Bank & Trust Co Ttee
—
Deed Of Trust
related
$114,000 · Palos Bank & Trust
—
—
Standard Bank & Trust Co Ttee
—
Deed Of Trust
related
$671,469 · Palos Bank & Trust
—
—
6500 College LLC
—
Deed Of Trust
related
$129,500 · American Chartered Bk
—
—
6500 College LLC
—
Deed Of Trust
related
$1,441,000 · American Chartered Bk
—
—
6500 College LLC
—
Deed Of Trust
related
$375,000 · American Chartered Bk
—
—
6500 College LLC
—
Deed Of Trust
related
$240,000 · American Chartered Bank
—
—
6500 College LLC
—
Deed Of Trust
related
$600,000 · American Chartered Bank
—
—
6500 College LLC
—
Deed Of Trust
related
$350,000 · Palos Bank & Trust
—
—
6500 College LLC
—
Deed Of Trust
related
$500,000 · First Midwest Bank
—
—
6500 College LLC
—
Deed Of Trust
related
$500,000 · American Chartered Bk
—
—
6500 College LLC
—
Deed Of Trust
related
$515,042 · Palos Bank & Trust
—
—
6500 College LLC
—
Deed Of Trust
related
$908,286 · First Midwest Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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