Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    714 Lee St Des Plaines, IL 60016-4538
    Back to Search
    Property profile & analytics

    714 Lee St, Des Plaines, IL 60016-4538

    View on Map
    • Retail residential properties
    • 0.09 lot acres
    Off-Market
    Property ID
    US28-1495046
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • JNL Properties / Apartment Building

    Property Details for 714 Lee St

    Year built
    1936
    Lot size
    0.09 lot acres
    Property type
    Retail residential properties
    APN
    09-17-418-016
    APU
    917418016

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 16, 2018 $1,330,000 Jnl Properties LLC 712 716 Lee St LLC Warranty Deed $945k · First Bank & Trust
    Nov 29, 2016 $800,000 712 716 Lee St LLC Thompson T Wright JR Deed $756k · Village Bank & Trust
    — — Wright Trust — Deed Of Trust · related $20k · Plainsbank Of Illinois NA
    — — Thompson T Wright — Deed Of Trust · related $300k · Covest Banc NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Plaines
    County
    Cook
    State
    Illinois
    Longitude
    -87.889
    Latitude
    42.0404
    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
    $30,558
    $5,600
    $113,158
    $118,758
    -
    $56,000
    $1,131,580
    $1,187,580

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      60 Broadway St

      STORES & APARTMENTS
      60 Broadway St, Des Plaines, IL 60016-2361
      View Details
    • Value Estimation
      $1,145,000
      0.27 Acres

      1440 Miner St

      STORES & APARTMENTS
      1440 Miner St, Des Plaines, IL 60016-7851
      View Details
    • Value Estimation
      $1,310,000
      0.22 Acres

      790 Lee St

      STORES & APARTMENTS
      790 Lee St, Des Plaines, IL 60016-6419
      View Details
    • Value Estimation by Request
      2,112 SF

      621 Central Rd

      STORES & APARTMENTS
      621 Central Rd, Des Plaines, IL 60016-1050
      View Details
    • Value Estimation by Request
      0.06 Acres

      72 Broadway St

      STORES & APARTMENTS
      72 Broadway St, Des Plaines, IL 60016-2348
      View Details
    • Value Estimation by Request
      0.27 Acres

      1460 Miner St

      STORES & APARTMENTS
      1460 Miner St, Des Plaines, IL 60016-4404
      View Details

    Similar Nearby for Sale

    • $399,900
      0.21 Acres

      Mixed-Use Property in Downtown Des Plaines

      Charming mixed-use property with commercial and residential potential.
      1330 Webford Ave, Des Plaines, IL 60016
      View Details
    • $399,900
      0.21 Acres

      Downtown Des Plaines Mixed-Use Property

      Charming mixed-use property in downtown Des Plaines with commercial/residential potential.
      1330 Webford Ave, Des Plaines, IL 60016
      View Details
    • $424,900

      Mixed-Use Property in Des Plaines

      Mixed-use property for sale in Des Plaines, Illinois.
      1330 Webford Ave, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      108,125 SF

      Des Plaines Redevelopment Opportunity

      5.59-acre site with 108,125 SF building near O’Hare Airport.
      2720 S River Rd, Des Plaines, IL 60016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,349 SF

      Retail Space Near Metra Train

      Retail space in mixed-use development near Des Plaines Metra.
      1555 Ellinwood Ave, Des Plaines, IL 60016
      View Details
    • $22 SF/Yr

      Versatile Flex Space on Golf Road

      5,000 sq ft flex space with high visibility.
      1200 E Golf Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      6,568 SF

      Community Center Retail Space Available

      155,152 SF community center with major anchors for lease.
      767 West Golf Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      260,400 SF

      New Warehouse Space Available

      260,400 SF warehouse with ample parking, available 4Q 2026.
      25 East Algonquin Rd, Des Plaines, IL 60016
      View Details
    • Contact for pricing
      2,916 SF

      Prime Retail Space Available

      Retail space with business incentives and ample parking.
      1425 Ellinwood St, Des Plaines, IL 60016
      View Details
    • Contact for pricing

      Des Plaines Flex Space Available

      Flex space for lease in well-maintained multi-tenant facilities.
      1221-1311 Rand Rd, Des Plaines, IL 60016
      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.
    714 Lee St
    Des Plaines, IL 60016-4538
    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

    Thank You for Inquiry
    714 Lee St, Des Plaines, IL, 60016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!