Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    71st, IL

    • Retail space
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Sep 20, 2023
    $20,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0979678
    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

    • Retail space

    Property Details for 7139

    Year built
    1990
    Lot size
    0.06 lot acres
    Property type
    Retail space
    APN
    19-30-100-001
    APU
    1930100001

    Value Estimations

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    71st
    County
    Cook
    State
    Illinois
    Longitude
    -87.7998
    Latitude
    41.7625
    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
    $6,009
    $7,570
    $6,403
    $13,973
    -
    $30,280
    $25,612
    $55,892

    Comparable in this City

    • Value Estimation by Request
      3.16 Acres

      La Grange, IL

      STORE, RETAIL OUTLET • 3.16 Acres
      15, La Grange, IL
      View Details
    • Value Estimation
      $1,310,000
      0.78 Acres

      Rand, IL

      RETAIL STORES (PERSONAL SERVICES) • 0.78 Acres
      102, Rand, IL
      View Details
    • Value Estimation by Request
      6,500 SF

      Halsted, IL

      STORE, RETAIL OUTLET • 6,500 SF
      341, Halsted, IL
      View Details
    • Value Estimation by Request
      0.25 Acres

      3339 Golf Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.25 Acres
      3339 Golf Rd, Skokie, IL
      View Details
    • Value Estimation by Request
      1,092 SF

      16300 Crawford Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,092 SF
      16300 Crawford Ave, Markham, IL
      View Details
    • Value Estimation by Request
      0.90 Acres

      12555 Touhy Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.90 Acres
      12555 Touhy Ave, Chicago, IL
      View Details

    Similar Nearby for Sale

    • $9,994,000
      55,226 SF

      Rockford Retail Space Available

      Retail space available in Rockford, Illinois.
      Nwc State St & Trainer Rd, Rockford, IL
      View Details
    • $310,000
      855 SF

      Historic Landmark Retail Building

      Retail building for sale, ground lease with renewal potential.
      351 Linden Ave, Wilmette, IL
      View Details
    • $475,000
      1,500 SF

      Free-Standing Building on St. Clair

      2,500 SF building at signalized intersection, excellent visibility.
      10050 St Clair Ave, Fairview Heights, IL
      View Details
    • Contact for pricing
      7,041 SF

      Retail Building in Rosemont

      7,041 SF retail building with high traffic counts.
      9651 W Higgins Rd, Rosemont, IL
      View Details
    • $349,000
      2,566 SF

      Retail Unit with Ample Parking

      2,566 SF retail unit suitable for various businesses.
      2302-2320 Esplanade Dr, Algonquin, IL
      View Details
    • $159,000
      1,200 SF

      Highway Retail Opportunity on 2 Acres

      Retail property with development potential near Clinton Lake.
      18843 Il Rte, De Witt, IL
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      7,248 SF

      Retail/Office Space in Fairview Heights

      7,248 SF retail/office space for lease in Fairview Heights.
      10-22 Lincoln Hwy, Fairview Heights, IL
      View Details
    • Contact for pricing
      2,554 SF

      Retail Space in Arlington Heights

      Retail space with high visibility and strong tenant mix.
      17-111 West Rand Rd, Arlington Heights, IL
      View Details
    • $15 SF/Yr
      3,817 SF

      Retail Space Near Hotel Amenities

      Retail space with growth potential near hotel amenities.
      1110 Willow Rd, Northbrook, IL
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space in Peru Marketplace

      Retail space available in a busy, shadow-anchored shopping center.
      5253 Il-251, Peru, IL
      View Details
    • Contact for pricing
      3,230 SF

      Algonquin Retail Leasing Opportunity

      Retail space available for lease in Algonquin, Illinois.
      1000 E Algonquin Rd, Algonquin, IL
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Route 59

      Retail space with high visibility and abundant parking.
      1520-1536 Illinois Rte, Plainfield, IL
      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.
    71st, IL
    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.

    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
    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.