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    Property profile & analytics

    9540 Irving Park Rd Schiller Park, IL 60176-1924

    • Residential income homes
    • 7,188 SF
    • 1.23 lot acres
    OFF-MARKET
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1994609
    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

    • Great Escape Restaurant / Restaurant
    • ATM / Atm
    • Electric Vehicle Charging Station / Electric Vehicle Charging Station

    Property Details for 9540 Irving Park Rd

    Year built
    1961
    Construction
    FRAME
    Lot size
    1.23 lot acres
    Property size
    7,188 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    12-15-305-003
    APU
    1215305003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $864,000
      Market price range: $865k - $1.53M
      AI Estimate
      $801,000
      Market price range: $801k - $1.14M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,255,000
      Current use
      RETAIL STORES
      $1,070,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Schiller Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8653
    Latitude
    41.9553
    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
    $19,630
    $30,482
    $30,500
    $60,982
    -
    $304,820
    $305,000
    $609,820

    Comparable in this City

    • Value Estimation by Request
      2,062 SF

      4032 Wesley Ter

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    • Value Estimation by Request
      2,205 SF

      3890 Ivanhoe Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,205 SF
      3890 Ivanhoe Ct, Schiller Park, IL 60176-2088
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    • Value Estimation by Request
      2,227 SF

      3820 Ivanhoe Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,227 SF
      3820 Ivanhoe Ct, Schiller Park, IL 60176-2095
      View Details
    • Value Estimation by Request
      2,463 SF

      610 Ivanhoe Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,463 SF
      610 Ivanhoe Ct, Schiller Park, IL 60176
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    • Value Estimation by Request
      2,205 SF

      3891 Ivanhoe Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,205 SF
      3891 Ivanhoe Ct, Schiller Park, IL 60176-2087
      View Details
    • Value Estimation by Request
      2,205 SF

      3881 Ivanhoe Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,205 SF
      3881 Ivanhoe Ct, Schiller Park, IL 60176-2086
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      120,461 SF

      Schiller Park Industrial Facility

      120,461 SF industrial facility with convenient access to I-294.
      3951 Soreng Ave, Schiller Park, IL 60176
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    • $1,990,000
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      Schiller Park Commercial Opportunity

      Restaurant/Bar with Real Estate and Liquor License Included
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      Schiller Park Industrial Portfolio

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      35,243 SF

      Schiller Park Manufacturing Building

      Manufacturing building for sale with heavy power near I-294.
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    • $575,000
      7,600 SF

      Specialty Property Near O'Hare Airport

      Specialty property located near O'Hare International Airport and I-294.
      3920 Wesley Ter, Schiller Park, IL 60176
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    • $2,199,999

      2.7 Acres Development Opportunity

      2.7 acres of unimproved land for development in Schiller Park.
      9851 Irving Park Rd, Schiller Park, IL 60176
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      25,800 SF

      Multi-Tenant Industrial Building Near Airport

      25,800 SF industrial building with three vacancies near O'Hare.
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      51,032 SF

      Franklin Park Industrial Space Available

      51,032 SF industrial space with ample trailer parking.
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      Schiller Park Industrial/Flex Space

      5,002 SF industrial/flex space with office component for lease.
      Schiller Park, IL 60176
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    • Contact for pricing
      2,817 SF

      Retail Space on Hard Corner

      Retail space available on a signalized hard corner location.
      9749-9755 Irving Park Rd, Schiller Park, IL 60176
      View Details
    • Contact for pricing
      61,918 SF

      New Industrial Space Near Airport

      Modern industrial facility with convenient access to O'Hare Airport.
      9555 Irving Park Rd, Schiller Park, IL 60176
      View Details
    • $9 SF/Yr
      16,000 SF

      Schiller Park Warehouse Space Available

      Warehouse space with office, docks, drive-in door, and high ceilings.
      9520 Seymour Ave, Schiller Park, IL 60176
      View Details
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    Schiller Park, IL 60176-1924
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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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