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    Property profile & analytics

    7 Prospect Ave Mount Prospect, IL 60056-3213

    • Commercial land
    • 0.29 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Jun 01, 2021
    $1,675,000
    Location Intelligence
    Property ID
    US28-2128969
    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

    • Commercial land

    Property Details for 7 Prospect Ave

    Lot size
    0.29 lot acres
    Property type
    Commercial land
    APN
    08-12-114-005
    APU
    812114005

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mount Prospect
    County
    Cook
    State
    Illinois
    Longitude
    -87.9374
    Latitude
    42.063
    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
    $12,573
    $46,942
    $0.00
    $46,942
    -
    $187,768
    $0.00
    $187,768

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      121 Wille St

      VACANT COMMERCIAL LAND • 0.09 Acres
      121 Wille St, Mount Prospect, IL 60056
      View Details
    • Value Estimation by Request
      0.16 Acres

      15 Prospect Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      15 Prospect Ave, Mount Prospect, IL 60056-3233
      View Details
    • Value Estimation by Request
      0.15 Acres

      13 Prospect Ave

      VACANT COMMERCIAL LAND • 0.15 Acres
      13 Prospect Ave, Mount Prospect, IL 60056
      View Details
    • Value Estimation by Request
      0.15 Acres

      11 Prospect Ave

      VACANT COMMERCIAL LAND • 0.15 Acres
      11 Prospect Ave, Mount Prospect, IL 60056-3213
      View Details
    • Value Estimation by Request
      1.45 Acres

      14 Hwy & 20 St

      Land • 1.45 Acres
      14 Hwy & 20 St, Mount Prospect, IL 60056
      View Details
    • Value Estimation by Request
      16,568 SF

      1040 Northwest Hwy

      Office Properties & Spaces • 16,568 SF
      1040 Northwest Hwy, Mount Prospect, IL 60056
      View Details

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    Similar Nearby for Lease

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      Free-standing building suitable for showroom users and contractors.
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      Mount Prospect Retail Space Available

      Retail space in Mount Prospect with high visibility and parking.
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      4,182 SF

      Retail Space in Mount Prospect

      Retail space available in a busy Mount Prospect shopping center.
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      View Details
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    7 Prospect Ave
    Mount Prospect, IL 60056-3213
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    Realmo Value Estimation

    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.

    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.

    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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