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

    708 West Brink St Harvard, IL 60033

    • Commercial real estate
    • 5,700 SF
    • 1.24 lot acres
    For Sale
    View listing
    $199,900
    Last Sale
    Oct 02, 2024
    $190,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2621951
    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 real estate

    Property Details for 708 West Brink St

    Year built
    1922
    Lot size
    1.24 lot acres
    Property size
    5,700 SF
    Property type
    Commercial real estate
    APN
    06-02-101-005
    APU
    602101005

    Description

    This unique 7,800 square foot, three-story building, originally a dairy barn, presents a remarkable investment opportunity. Built in 1922 and boasting a Class B rating, this property is situated on a 1.24-acre lot (54,000 sq ft) with excellent visibility on Route 173 (Brink St) in Harvard, Illinois, enjoying approximately 5,500 cars passing daily. The building features updated electrical wiring, a new furnace and air conditioning system, a bathroom, laundry facilities, and a newer maintenance-free metal roof. The B3 zoning allows for a variety of commercial uses, making it ideal for redevelopment or continued use in its current state. The ample parking area caters to businesses requiring substantial space. This property is being sold AS-IS as part of an estate sale. Its location near the Harvard Veterinary Clinic, Farmers Insurance, and the Harvard Moose Family Center adds to its appeal. The asking price is $199,900, translating to $25.63 per square foot. This is a prime opportunity for entrepreneurs seeking a high-visibility location with significant potential. The property's size and zoning offer flexibility for a wide range of commercial ventures.

    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
    Harvard
    County
    Mchenry
    State
    Illinois
    Longitude
    -88.6239
    Latitude
    42.4141
    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
    2023
    $7,489
    $48,848
    $29,940
    $78,788
    -
    $146,544
    $89,820
    $236,364

    Comparable in this City

    • Value Estimation by Request
      0.60 Acres

      Harvard, IL 60033

      COMMERCIAL (GENERAL) • 0.60 Acres
      Harvard, IL 60033
      View Details
    • Value Estimation by Request
      1.00 Acre

      Cor Of Stateline Rd

      COMMERCIAL (GENERAL) • 1.00 Acre
      Cor Of Stateline Rd, Harvard, IL 60033
      View Details
    • Value Estimation by Request
      0.01 Acres

      Frnt St

      COMMERCIAL (GENERAL) • 0.01 Acres
      Frnt St, Harvard, IL 60033
      View Details
    • Value Estimation by Request
      3.50 Acres

      Mcguire Rd

      COMMERCIAL (GENERAL) • 3.50 Acres
      Mcguire Rd, Harvard, IL 60033
      View Details
    • Value Estimation by Request
      0.50 Acres

      Park St

      COMMERCIAL (GENERAL) • 0.50 Acres
      Park St, Harvard, IL 60033
      View Details
    • Value Estimation by Request
      0.25 Acres

      11523 Us Hwy 14

      COMMERCIAL (GENERAL) • 0.25 Acres
      11523 Us Hwy 14, Harvard, IL 60033-9193
      View Details

    Similar Nearby for Sale

    • $925,000
      7,200 SF

      Harvard Multi-Family Investment Opportunity

      Profitable 20-Unit Multi-Family Complex
      1011 9Th St, Harvard, IL 60033
      View Details
    • $1,962,378
      25.70 Acres

      Harvard Development Land - 25.7 Acres

      Prime 25.7-acre development site, ideal for mixed-use projects.
      0 Marengo Rd, Harvard, IL 60033
      View Details
    • $198,500

      Harvard Mixed-Use Investment Opportunity

      Prime location, established business, high potential.
      400 Division St, Harvard, IL 60033
      View Details
    • Contact for pricing
      180,500 SF

      Harvard Industrial Property: 180,500 SF

      Massive industrial building, ideal for distribution, manufacturing, or cold storage.
      6303 Maxon Rd, Harvard, IL 60033
      View Details
    • $750,000
      11,400 SF

      Harvard Industrial Building - Huge Potential

      Prime location, large lot, expansive space.
      615 Chippewa Rd, Harvard, IL 60033
      View Details
    • $199,900
      9,000 SF

      Redevelopment Opportunity on State Highway

      Three-story, 7,800 SF building on 1.24 acres with B3 zoning.
      708 West Brink St, Harvard, IL 60033
      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.
    708 West Brink St
    Harvard, IL 60033
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.