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

    657 89th Pl Chicago, IL 60619-6833

    • Residential income homes
    • 3,204 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Jan 07, 2021
    $277,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2749888
    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 657 89th Pl

    Year built
    1929
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    3,204 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    25-03-218-020
    APU
    2503218020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6073
    Latitude
    41.7327
    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
    $2,262
    $3,906
    $7,093
    $10,999
    -
    $39,060
    $70,930
    $109,990

    Comparable in this City

    • Value Estimation by Request
      4,458 SF

      8141 Pr Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,458 SF
      8141 Pr Ave, Chicago, IL 60619-4836
      View Details
    • Value Estimation by Request
      2,100 SF

      7819 Woodlawn Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,100 SF
      7819 Woodlawn Ave, Chicago, IL 60619-3313
      View Details
    • Value Estimation by Request
      2,454 SF

      7210 Woodlawn Ave, Unit 1

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,454 SF
      7210 Woodlawn Ave, Chicago, IL 60619-1331
      View Details
    • Value Estimation by Request
      2,374 SF

      7241 Rhodes Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,374 SF
      7241 Rhodes Ave, Chicago, IL 60619-1703
      View Details
    • Value Estimation by Request
      2,618 SF

      7415 Vernon Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,618 SF
      7415 Vernon Ave, Chicago, IL 60619-1813
      View Details
    • Value Estimation by Request
      1,622 SF

      7241 University Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,622 SF
      7241 University Ave, Chicago, IL 60619-1326
      View Details

    Similar Nearby for Sale

    • $545,000
      6,316 SF

      Chatham 8-Unit Multifamily Investment

      Eight-unit building, strong cash flow, excellent location.
      8627 S Ingleside Ave, Chicago, IL 60619
      View Details
    • $424,900
      0.10 Acres

      Mixed-Use Property in Grand Crossing

      Two-story mixed-use property with retail and residential units.
      334 E 75Th St, Chicago, IL 60619
      View Details
    • $215,000
      0.16 Acres

      Mixed-Use Property in Revitalizing Area

      Mixed-use property with apartments, church, and storefront in Chicago.
      935 E 75Th St, Chicago, IL 60619
      View Details
    • $950,000
      10,700 SF

      South Shore Multifamily Investment Opportunity

      12-unit multifamily property in Chicago's South Shore neighborhood.
      1502-1510 E 74Th St, Chicago, IL 60619
      View Details
    • $498,500

      Chatham Six-Unit Multifamily Investment Property

      Six-unit multifamily property in Chicago's Chatham neighborhood with income potential.
      735 E 88Th St, Chicago, IL 60619
      View Details
    • $410,000
      Pending

      Chicago Multifamily Investment Opportunity

      Two-story brick building with eight one-bedroom units for sale.
      8038 S Ingleside Ave, Chicago, IL 60619
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,050 SF

      Chicago Retail Space For Lease

      1,050 SF Retail Space in Chicago
      7133 Greenwood Ave, Chicago, IL 60619
      View Details
    • $18 SF/Yr
      9,780 SF

      Greenwood Place Medical Office

      Chicago Medical Office Space Available
      8741 Greenwood Ave, Chicago, IL 60619
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in Shopping Center

      Retail space available in a 250,111 SF shopping center.
      8560 S Cottage Grove Ave, Chicago, IL 60619
      View Details
    • Contact for pricing

      Chicago Commercial Storefront for Lease

      Commercial storefront suitable for various businesses in Chicago, Illinois.
      650 E 75Th St, Chicago, IL 60619
      View Details
    • Contact for pricing
      2,052 SF

      Turnkey Restaurant on Cottage Grove

      Freestanding, fully equipped restaurant with drive-thru in Chicago, IL.
      8317 S Cottage Grove Ave, Chicago, IL 60619
      View Details
    • Contact for pricing
      3,188 SF

      Retail Space in Chicago Outlot

      Retail space available in a 250,111 SF shopping center.
      712 E 87Th St, Chicago, IL 60619
      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.
    657 89th Pl
    Chicago, IL 60619-6833
    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.