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    Property profile & analytics

    7248 Archer Ave, Unit 3 Summit, IL 60501-1234

    • Residential income homes
    • 3,496 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Aug 27, 2020
    Location Intelligence
    Property ID
    US28-2490910
    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 7248 Archer Ave

    Year built
    1923
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.11 lot acres
    Property size
    3,496 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    18-12-418-028
    APU
    1812418028

    Value Estimation

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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Cook
    State
    Illinois
    Longitude
    -87.8038
    Latitude
    41.7921
    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
    $8,059
    $3,057
    $15,621
    $18,678
    -
    $30,570
    $156,210
    $186,780

    Comparable in this City

    • Value Estimation by Request
      3,168 SF

      7438 Archer Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,168 SF
      7438 Archer Ave, Summit, IL 60501
      View Details
    • Value Estimation by Request
      2,414 SF

      7243 61st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,414 SF
      7243 61st St, Summit, IL 60501-2454
      View Details
    • Value Estimation by Request
      2,207 SF

      5324 73rd Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,207 SF
      5324 73rd Ave, Summit, IL 60501-2127
      View Details
    • Value Estimation by Request
      2,592 SF

      7433 60th Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,592 SF
      7433 60th Pl, Summit, IL 60501-2444
      View Details
    • Value Estimation by Request
      1,977 SF

      7330 61st Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,977 SF
      7330 61st Pl, Summit, IL 60501-1622
      View Details
    • Value Estimation by Request
      1,120 SF

      7531 61st Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,120 SF
      7531 61st Pl, Summit, IL 60501-1617
      View Details

    Similar Nearby for Sale

    • $349,880

      Summit Two-Flat with B-2 Potential

      Well-maintained two-flat in Summit, ideal for investors or owner-occupants.
      7318 W Archer Ave, Summit, IL 60501
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    • $409,000
      0.11 Acres

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    • $299,000

      Summit Mixed-Use Investment Opportunity

      Prime Location, Turn-Key Bar & Apartment
      6105 Archer Rd, Summit, IL 60501
      View Details
    • $1,900,000
      17,791 SF

      Summit Office Building For Sale

      17,791 SF office building, ideal for owner occupancy.
      5818 S Archer Rd, Summit, IL 60501
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    • $849,000
      0.24 Acres

      Established Daycare Business For Sale

      Thriving daycare business, building, and land available in Summit, IL.
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    Similar Nearby for Lease

    • Contact for pricing
      10,890 SF

      Office Space with Utilities Included

      Office space for rent with all utilities included in Summit.
      5900 S Archer Rd, Summit, IL 60501
      View Details
    • Contact for pricing
      10,890 SF

      Office Space with Utilities Included

      Office space for rent with all utilities included in Summit.
      5900 S Archer Rd, Summit, IL 60501
      View Details
    • Contact for pricing
      341,887 SF

      Modern Industrial Building in Summit

      New 341,887 SF industrial space, delivery Q2 2026.
      7955 West 59 St, Summit, IL 60501
      View Details
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    7248 Archer Ave, Unit 3
    Summit, IL 60501-1234
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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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