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    Property profile & analytics

    8200 185Th St Tinley Park, IL 60487

    • Industrial properties
    • 83,720 SF
    • 5.70 lot acres
    For Lease
    View listing
    Last Sale
    Jan 19, 2021
    $7,125,000
    Value Estimations
    $7,255,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2266572
    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

    • V P Property Management / Property Management Company
    • Steele Realty Group, Inc.Bud Steele / Real Estate Agency
    • Kardelis Notary Public & Signing Agent / Law Firm
    • ITS Technologies & Logistics / Logistics Company / Freight Service
    • TI Ambulance / Ambulance Service

    Property Details for 8200 185Th St

    Year built
    1999
    Construction
    STEEL FRAME
    Lot size
    5.70 lot acres
    Property size
    83,720 SF
    Property type
    Industrial properties
    APN
    19-09-02-205-006
    APU
    190902205006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,850,000
      ML approach
      $7,760,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,005,000
      6.5%
      $5,545,000
      7%
      $5,150,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,016,000
      Market price range: $5.70M - $11.5M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $8,110,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $11,300,000
      Change: +39% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tinley Park
    County
    Will
    State
    Illinois
    Longitude
    -87.8189
    Latitude
    41.5549
    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
    2023
    $113,063
    $264,849
    $854,377
    $1,119,226
    -
    $794,547
    $2,563,131
    $3,357,678

    Comparable in this City

    • Value Estimation
      $1,130,000
      21,600 SF

      8141 185th St

      INDUSTRIAL (GENERAL) • 21,600 SF
      8141 185th St, Tinley Park, IL 60487-9202
      View Details
    • Value Estimation
      $785,000
      12,627 SF

      18623 81st Ave

      INDUSTRIAL (GENERAL) • 12,627 SF
      18623 81st Ave, Tinley Park, IL 60487-6279
      View Details
    • Value Estimation
      $4,455,000
      101,404 SF

      8451 183rd Pl

      INDUSTRIAL (GENERAL) • 101,404 SF
      8451 183rd Pl, Tinley Park, IL 60487-9271
      View Details
    • Value Estimation
      $4,035,000
      86,810 SF

      8201 183rd St Ste C

      INDUSTRIAL (GENERAL) • 86,810 SF
      8201 183rd St Ste C, Tinley Park, IL 60487-9208
      View Details
    • Value Estimation by Request
      79,571 SF

      8525 183Rd Pl

      Distribution properties • 79,571 SF
      8525 183Rd Pl, Tinley Park, IL 60487
      View Details
    • Value Estimation
      $925,000
      14,378 SF

      18631 81st Ave

      INDUSTRIAL (GENERAL) • 14,378 SF
      18631 81st Ave, Tinley Park, IL 60487-6279
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      77,000 SF

      Flex/Industrial/Office Space Available

      Office or flex warehouse solutions with convenient access and low taxes.
      8525 W 183Rd St, Tinley Park, IL 60487
      View Details
    • Contact for pricing
      79,571 SF

      Tinley Park Industrial Property

      79,571 SF Office/Warehouse, M1 Zoning
      8525 183Rd Pl, Tinley Park, IL 60487
      View Details
    • Contact for pricing
      5.00 Acres

      Orland Park Commercial Land - 5 Acres

      Prime Orland Park commercial land, ideal development.
      0 Orland Pkwy, Orland Park, IL 60487
      View Details
    • Contact for pricing
      5,795 SF

      Restaurant Building on High-Traffic Corner

      5,795 SF restaurant on 1.9 acres near I-80.
      7200 W 191St St, Tinley Park, IL 60487
      View Details
    • $5,785,714
      14,820 SF

      Walgreens Net Lease Investment

      High-yield Walgreens in prime location.
      8400 171St St, Tinley Park, IL 60487
      View Details
    • Contact for pricing

      Land Near Multi-Sports Dome

      Outlots available near Interstate-80 and proposed Top Golf.
      7724 W 191St St, Tinley Park, IL 60487
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,005 SF

      Office/Flex Space For Rent

      Office/flex space with ample parking near transportation and daycare.
      8200 185Th St, Tinley Park, IL 60487
      View Details
    • $10 SF/Yr
      5,201 SF

      Tinley Park Flex/Industrial Space

      Flex/industrial space with access via two interchanges and low taxes.
      8201 W 183Rd St, Tinley Park, IL 60487
      View Details
    • Contact for pricing
      34,000 SF

      Distribution Property with Freezer Space

      Distribution property featuring freezer and chilled dock areas for rent.
      18501 Northstar Ct, Tinley Park, IL 60487
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Orland Square

      Retail space available in strong regional shopping area.
      9201 159Th St, Orland Hills, IL 60487
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space with High Visibility

      1,800 SF retail space with high traffic and signage.
      9500-9502 179Th St, Tinley Park, IL 60487
      View Details
    • $20 SF/Yr
      2,092 SF

      Harlem Avenue Medical Office Space

      Medical office space with high visibility on Harlem Avenue.
      17047-17059 171St St, Tinley Park, IL 60487
      View Details
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    Tinley Park, IL 60487
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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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