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    Property profile & analytics

    6537 173rd Pl Tinley Park, IL 60477-3554

    • Residential income homes
    • 3,978 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2735352
    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 6537 173rd Pl

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.18 lot acres
    Property size
    3,978 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    28-30-412-074
    APU
    2830412074

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $524,000
      Market price range: $483k - $607k
      AI Estimate
      $472,000
      Market price range: $411k - $560k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $535,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $870,000
      Change: +62% Conversion: Difficult
      RETAIL STORES
      $595,000
      Change: +10% Conversion: Difficult
      OFFICE BUILDING
      $530,000
      Change: -1% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $480,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.7783
    Latitude
    41.5757
    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
    $15,879
    $3,104
    $34,171
    $37,275
    -
    $31,040
    $341,710
    $372,750

    Comparable in this City

    • Value Estimation
      $550,000
      4,336 SF

      7005 174th Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,336 SF
      7005 174th Pl, Tinley Park, IL 60477
      View Details
    • Value Estimation by Request
      2,474 SF

      6806 179th Pl, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,474 SF
      6806 179th Pl, Tinley Park, IL 60477-4077
      View Details
    • Value Estimation by Request
      3,108 SF

      6926 183rd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,108 SF
      6926 183rd St, Tinley Park, IL 60477-3929
      View Details
    • Value Estimation
      $515,000
      3,418 SF

      17224 66th Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,418 SF
      17224 66th Ct, Tinley Park, IL 60477-3562
      View Details
    • Value Estimation by Request
      2,770 SF

      16794 Hillside Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,770 SF
      16794 Hillside Pl, Tinley Park, IL 60477-2112
      View Details
    • Value Estimation by Request
      2,770 SF

      5966 Lakeside Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,770 SF
      5966 Lakeside Pl, Tinley Park, IL 60477-2149
      View Details

    Similar Nearby for Sale

    • $264,000

      Updated Condo in 55+ Building

      Move-in ready, updated 2-bedroom, 2-bath condo in Tinley Park.
      6320 Pine Ridge Dr, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Redevelopment Site in Tinley Park

      Office condo deconversion to multi-family or mixed-use redevelopment site.
      17704 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • $149,000

      Residential Lot in Tinley Park

      Improved residential lot ready for construction in Tinley Park.
      7942 172Nd St, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      37,767 SF

      Industrial Space Near Interstates

      Industrial property with fenced yard, near Interstates 80 and 57.
      17201 Ridgeland Ave, Orland Hills, IL 60477
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    • $104,900

      Wooded Lots Near Downtown Tinley

      Residential land near Vogt Woods and Midlothian Creek.
      16966 Forest Glen Dr, Tinley Park, IL 60477
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    • Contact for pricing

      Harlem Avenue Vacant Lot

      Vacant lot on high-traffic Harlem Avenue, near I-80.
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    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space in Tinley Park

      Retail spaces available in busy Tinley Park shopping center.
      9510-9536 W 179Th St, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      915,643 SF

      Warehouse Distribution Space Available

      Well-maintained industrial building with access to Interstate 80.
      18801 Oak Park Ave, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space Near Convention Center

      Retail property near Tinley Park Convention Center and First Midwest Bank.
      7132-7164 183Rd St, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      5,858 SF

      Tinley Park Medical/Office Space

      Efficient medical and office space near I-80 and amenities.
      18425 W Creek Dr, Tinley Park, IL 60477
      View Details
    • Contact for pricing
      1,213 SF

      Tinley Park Office Space Available

      Move-in ready office space in a busy strip center.
      9410 179Th St, Tinley Park, IL 60477
      View Details
    • Contact for pricing

      Tinley Park Office Space Available

      Prime office space in downtown Tinley Park near Metra.
      16750 S Oak Park Ave, Tinley Park, IL 60477
      View Details
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    6537 173rd Pl
    Tinley Park, IL 60477-3554
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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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