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    Property profile & analytics

    7350 Carol St, Unit 2 Niles, IL 60714-2102

    • Residential income homes
    • 3,408 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2196309
    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 7350 Carol St

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.15 lot acres
    Property size
    3,408 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    09-24-201-017
    APU
    924201017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $735,000
      6.5%
      $680,000
      7%
      $630,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $685,000
      Market price range: $576k - $814k
      AI Estimate
      $444,000
      Market price range: $317k - $564k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $690,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $745,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Niles
    County
    Cook
    State
    Illinois
    Longitude
    -87.8105
    Latitude
    42.04
    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
    $12,710
    $7,128
    $48,872
    $56,000
    -
    $71,280
    $488,720
    $560,000

    Comparable in this City

    • Value Estimation
      $520,000
      3,205 SF

      8429 Oak Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,205 SF
      8429 Oak Ave, Niles, IL 60714-1467
      View Details
    • Value Estimation by Request
      3,064 SF

      8423 Oak Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,064 SF
      8423 Oak Ave, Niles, IL 60714-1431
      View Details
    • Value Estimation
      $690,000
      5,251 SF

      8004 Oakton St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,251 SF
      8004 Oakton St, Niles, IL 60714-2721
      View Details
    • Value Estimation by Request
      2,872 SF

      8108 Oriole Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,872 SF
      8108 Oriole Ave, Niles, IL 60714-2855
      View Details
    • Value Estimation
      $555,000
      3,653 SF

      8022 Oriole Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,653 SF
      8022 Oriole Ave, Niles, IL 60714-2852
      View Details
    • Value Estimation by Request
      2,562 SF

      9221 Willow Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,562 SF
      9221 Willow Ln, Niles, IL 60714-1339
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Niles Condo with Balcony

      One-bedroom condo in well-maintained building with in-unit laundry.
      6801 N Milwaukee Ave, Niles, IL 60714
      View Details
    • $1,200,000

      Niles 6-Flat Investment Opportunity

      Well-maintained 6-flat in Niles, a strong suburban rental market.
      6920 N Rosemary Ln, Niles, IL 60714
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    • Contact for pricing
      2,382 SF

      Freestanding Restaurant Building Near Golf Mill

      2,382 SF restaurant building near Golf Mill Town Center.
      9206 N Milwaukee Ave, 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
    • New
      $260,000
      2,800 SF

      Niles Food Mart Business

      Food mart business for sale in prime commercial location.
      8809 N Milwaukee Ave, Niles, IL 60714
      View Details
    • New
      $529,000
      2,800 SF

      Freestanding Commercial Building on Milwaukee

      Highly visible commercial building suitable for retail or office use.
      8136 N Milwaukee Ave, Niles, IL 60714
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      160,000 SF

      Niles Medical Office Space Available

      Class A Medical Office, 5,000 SF Vacant
      8975 Golf Rd, Niles, IL 60714
      View Details
    • Contact for pricing
      165,516 SF

      Oak Mill Plaza Retail Center

      Niles, IL Strip Mall - 8 Suites Available
      7900 Milwaukee Ave, Niles, IL 60714
      View Details
    • Contact for pricing
      33,228 SF

      Niles Center Retail Spaces Available

      Prime Retail, Two Spaces, High Traffic
      7233 Dempster St, Niles, IL 60714
      View Details
    • Contact for pricing

      Commercial Property on Dempster Street

      Commercial property available for rent on Dempster Street, Niles, IL.
      8650 West Dempster St, Niles, IL 60714
      View Details
    • Contact for pricing
      1,949 SF

      Niles Retail Spaces Available

      Newer shopping center retail spaces in Niles, Illinois.
      800-898 Civic Center Dr, Niles, IL 60714
      View Details
    • Contact for pricing
      1,472 SF

      Retail Space in Niles, IL

      Retail space available in high-performing Chicago metro power center.
      5601-5699 W Touhy Ave, Niles, IL 60714
      View Details
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    Niles, IL 60714-2102
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    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
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