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

    7312 Milwaukee Ave Niles, IL 60714-4310

    • Industrial properties
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Mar 10, 2025
    $270,000
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0372358
    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

    • Solar Service Inc / Solar Energy Equipment Supplier

    Property Details for 7312 Milwaukee Ave

    Year built
    1958
    Lot size
    0.07 lot acres
    Property type
    Industrial properties
    APN
    10-30-320-006
    APU
    1030320006

    Description

    This meticulously maintained 2,375 square foot office building, constructed in 1961, presents a compelling investment opportunity in the thriving commercial hub of Niles, Illinois. Situated at 7312 N Milwaukee Avenue, the property boasts a sleek exterior and well-appointed interior spaces, offering a versatile layout adaptable to a variety of business needs. Its established presence and historic charm create an inviting and productive work environment. The building's strategic location provides convenient access to major thoroughfares, ensuring easy commutes for employees, clients, and visitors. This is an exceptional chance to acquire a cornerstone asset in a vibrant and growing area. The property is offered at $415,000. While the lot size is negligible (0 acres), the building's substantial square footage and prime location make it an attractive proposition for investors seeking a strong return. The building's age (1961) speaks to its enduring quality and construction, while its modern interior offers a blend of classic charm and contemporary functionality. This is a rare opportunity to own a well-established office building in a highly desirable location. The property's potential for growth and its strong location make it an ideal investment for both seasoned and new investors alike. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Cook
    State
    Illinois
    Longitude
    -87.8037
    Latitude
    42.0141
    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
    $9,127
    $10,412
    $31,496
    $41,908
    -
    $41,648
    $125,984
    $167,632

    Comparable in this City

    • Value Estimation
      $255,000
      6.15 Acres

      7007 Austin Ave

      INDUSTRIAL (GENERAL) • 6.15 Acres
      7007 Austin Ave, Niles, IL 60714-4601
      View Details
    • Value Estimation
      $335,000
      9.66 Acres

      7799 Caldwell Ave

      INDUSTRIAL (GENERAL) • 9.66 Acres
      7799 Caldwell Ave, Niles, IL 60714-3318
      View Details
    • Value Estimation
      $245,000
      5.59 Acres

      7540 Caldwell Ave

      INDUSTRIAL (GENERAL) • 5.59 Acres
      7540 Caldwell Ave, Niles, IL 60714-3808
      View Details
    • Value Estimation
      $290,000
      1.81 Acres

      6065 Gross Pt Rd

      INDUSTRIAL (GENERAL) • 1.81 Acres
      6065 Gross Pt Rd, Niles, IL 60714
      View Details
    • Value Estimation
      $255,000
      0.17 Acres

      7421 Harlem Ave

      INDUSTRIAL (GENERAL) • 0.17 Acres
      7421 Harlem Ave, Niles, IL 60714-3701
      View Details
    • Value Estimation by Request

      6280 Howard St

      INDUSTRIAL (GENERAL)
      6280 Howard St, Niles, IL 60714-3433
      View Details

    Similar Nearby for Sale

    • $1,400,000
      19,230 SF

      Niles Warehouse with Office Space

      19,230 SF warehouse with office space for sale.
      9250 N Willow Ln, Niles, IL 60714
      View Details
    • $649,900
      3,006 SF

      Niles Medical Building - Great Location!

      8 Exam Rooms, High Traffic Area, Ample Parking
      7124 Touhy Ave, Niles, IL 60714
      View Details
    • $2,000,000
      7,900 SF

      8000 Waukegan Rd, Niles, IL 60714

      Commercial real estate • 7,900 SF
      8000 Waukegan Rd, Niles, IL 60714
      View Details
    • $197,600

      Niles Condo with Balcony

      One-bedroom condo in well-maintained building with in-unit laundry.
      6801 N Milwaukee Ave, Niles, IL 60714
      View Details
    • New
      $265,000
      1,550 SF

      Niles Commercial Property For Sale

      Commercial property in Niles with high traffic visibility.
      8137 N Milwaukee Ave, Niles, IL 60714
      View Details
    • $699,000
      5,790 SF

      Niles Office Building: Prime Location

      Multi-tenant office building, excellent investment.
      6954 Touhy Ave, Niles, IL 60714
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      8,782 SF

      Industrial Space Near Eden’s Expressway

      8,782 SF industrial space with office near I-94.
      5631-5675 W Howard St, Niles, IL 60714
      View Details
    • Contact for pricing
      8,283 SF

      Niles Warehouse with Office Space

      Warehouse with 4,000 SF office space available for lease.
      7450 N Natchez Ave, Niles, IL 60714
      View Details
    • Contact for pricing
      100,986 SF

      Niles Warehouse Space Available

      24,725 SF warehouse space available for lease in Niles.
      7515 North Oak Park Ave, Niles, IL 60714
      View Details
    • $8 SF/Yr
      4,455 SF

      Niles Warehouse with Office Space

      4,455 SF warehouse including 1,514 SF office space for rent.
      5609-5751 W Howard St, Niles, IL 60714
      View Details
    • $12 SF/Yr
      1,549 SF

      Niles Flex Space Available

      Flex space with office, warehouse, and shared loading docks.
      7111 N Austin Ave, Niles, IL 60714
      View Details
    • $12 SF/Yr
      3,800 SF

      Industrial Units with Loading Docks

      Flex space with loading docks and high traffic exposure.
      7311 Croname Rd, Niles, IL 60714
      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.
    7312 Milwaukee Ave
    Niles, IL 60714-4310
    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.