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

    817 Lessing St Chicago, IL 60642

    • Industrial properties
    • 22,000 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $1,470,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2502151
    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

    • Industrial properties

    Property Details for 817 Lessing St

    Year built
    1989
    Lot size
    0.11 lot acres
    Property size
    22,000 SF
    Property type
    Industrial properties
    APN
    17-05-424-003
    APU
    1705424003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6505
    Latitude
    41.897
    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
    $9,151
    $19,062
    $25,431
    $44,493
    -
    $76,248
    $101,724
    $177,972

    Comparable in this City

    • Value Estimation by Request
      3.00 Acres

      1255 Wn Ave

      INDUSTRIAL (GENERAL) • 3.00 Acres
      1255 Wn Ave, Chicago, IL 60642-1562
      View Details
    • Value Estimation by Request
      0.08 Acres

      1079 Nn Br St

      INDUSTRIAL (GENERAL) • 0.08 Acres
      1079 Nn Br St, Chicago, IL 60642
      View Details
    • Value Estimation by Request
      0.39 Acres

      1674 Besly Ct

      INDUSTRIAL (GENERAL) • 0.39 Acres
      1674 Besly Ct, Chicago, IL 60642
      View Details
    • Value Estimation
      $510,000
      9,500 SF

      448 Halsted St

      INDUSTRIAL (GENERAL) • 9,500 SF
      448 Halsted St, Chicago, IL 60642-6517
      View Details
    • Value Estimation by Request
      2,700 SF

      1502 Throop St

      INDUSTRIAL (GENERAL) • 2,700 SF
      1502 Throop St, Chicago, IL 60642-2401
      View Details
    • Value Estimation by Request
      2,700 SF

      1500 Throop St

      INDUSTRIAL (GENERAL) • 2,700 SF
      1500 Throop St, Chicago, IL 60642-2401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,750 SF

      River West Multi-Use Investment

      6,750 SF Multi-Use Property, Chicago
      886-888 Milwaukee Ave, Chicago, IL 60642
      View Details
    • $995,000
      6,750 SF

      Industrial Property on Milwaukee Avenue

      6,750 SF industrial property available for sale.
      886 N Milwaukee Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      47,000 SF

      Spacious Industrial Flex Space Available

      Second and third floor flex space with reinforced concrete floors.
      1900 W Kinzie St, Chicago, IL 60642
      View Details
    • $1,099,000
      12,500 SF

      Flex Building with Truck Dock

      Flex building featuring a drive-in door and truck-level dock.
      4446 N Elston Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      19,041 SF

      Vacant Loft Office Building

      58,000 SF vacant loft office building for sale.
      1907 N Mendell St, Chicago, IL 60642
      View Details
    • $2,999,000
      21,000 SF

      Bow Truss Building For Sale

      21,000 SF bow truss building with large parking lot.
      4536 N Elston Ave, Chicago, IL 60642
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      9,383 SF

      Modern Industrial Facility Near CBD

      9,383 SF industrial space with office and parking.
      900 W Bliss St, Chicago, IL 60642
      View Details
    • Contact for pricing
      17,982 SF

      Versatile Building Near Clybourn Metra

      25,431 SF building suitable for office, industrial, or retail.
      1529 W Armitage Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      173,093 SF

      Chicago Warehouse with Racking System

      Large warehouse space in Chicago with extensive racking and infrastructure.
      1333 N Hickory Ave, Chicago, IL 60642
      View Details
    • $8 SF/Yr

      Warehouse/Flex Space Near Lincoln Yards

      8,488 SF warehouse/flex space for lease near future development.
      1838 N Elston Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      95,466 SF

      Cicero Industrial Building For Lease

      95,466 SF industrial building with heavy power and crane.
      5501 W Ogden Ave, Cicero, IL 60642
      View Details
    • $17 SF/Yr
      65,000 SF

      Lincoln Yards Flex Space Available

      Chicago Flex/Office: 2,832 SF - $10.50/SF Taxes
      1444 Willow St, Chicago, IL 60642
      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.
    817 Lessing St
    Chicago, IL 60642
    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.