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    Scott R. Maesel, Chicago, IL

    License ID: 471005379
    Sperry Van Ness
    Association
    Illinois Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (312) 676-1860
    Office Address:
    940 W Adams St Ste 200, Chicago, IL, 60607

    Performance

    Listings
    25

    Listings

    For Sale (9)

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    • Contact for pricing
      550,000 SF

      Homan Square Redevelopment Portfolio

      Chicago Landmark Buildings, Huge Potential
      3201 Arthington St, Chicago, IL 60624
      View Details
    • $5,258,000
      239,000 SF

      Homan Square Landmark Redevelopment

      Historic Sears HQ, redevelopment opportunity.
      3333 Arthington St, Chicago, IL 60624
      View Details
    • $8,268,000
      706,000 SF

      Homan Square Redevelopment Portfolio

      706,000 SF, Mixed-Use Opportunity
      3245 Arthington St, Chicago, IL 60624
      View Details
    • $6,750,000
      31,250 SF

      West Loop / Fulton Market Office Building Overlooking Mary Bartelme Park

      West Loop / Fulton Market Office Building Overlooking Mary Bartelme Park
      112 S Sangamon St, Chicago, IL 60607
      View Details
    • $1,995,000

      Fulton Market Commercial Office Condo

      Move-in ready office condo in Fulton Market near McDonald's HQ.
      106 N Aberdeen St, Chicago, IL 60607
      View Details
    • $699,000

      New Retail Condo in Edgewater

      New construction retail condo with outdoor patio and high visibility.
      5691 N Ridge Ave, Chicago, IL 60660
      View Details
    • $5,900,000
      320,000 SF

      Historic Lofts Development Opportunity

      Development opportunity with approved plans for 159 residential units.
      2139-59 West Pershing Rd, Chicago, IL 60609
      View Details
    • $6,500,000
      112,495 SF

      Prime State Street Retail Building

      112,495 SF building in Chicago's central Loop.
      209 S State St, Chicago, IL 60604
      View Details
    • $1,592,000
      4,650 SF

      West Town Corner Retail Building

      Stabilized retail asset in a desirable Chicago location.
      1934 W Chicago Ave, Chicago, IL 60622
      View Details

    For Lease (16)

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    • $38 SF/Yr
      100,000 SF

      Taylor Street Retail Opportunity

      Little Italy Corner Store, Divisible Space
      1221 Taylor St, Chicago, IL 60607
      View Details
    • $106 SF/Yr

      Gold Coast Retail Space Available

      Second-generation retail space in Chicago's prestigious Gold Coast neighborhood.
      110 E Delaware Pl, Chicago, IL 60611
      View Details
    • $32 SF/Yr

      Lakeview Restaurant Space Near Wrigley

      Fully built-out restaurant space in Chicago's vibrant Lakeview neighborhood.
      3215 N Sheffield Ave, Chicago, IL 60657
      View Details
    • $34 SF/Yr

      Retail Space in Luxury Building

      Ground floor retail space in a new luxury apartment building.
      691 N Milwaukee Ave, Chicago, IL 60642
      View Details
    • $30 SF/Yr

      New Construction Retail Space Available

      Retail space in luxury building near 606 Trail.
      1710 N Western Ave, Chicago, IL 60647
      View Details
    • $28 SF/Yr

      West Town Retail Space Available

      Retail space in West Town with large windows and high ceilings.
      1856 W Chicago Ave, Chicago, IL 60622
      View Details
    • $30 SF/Yr

      Retail Space in Little Italy

      Prime retail space with high exposure in Chicago's Little Italy.
      1208 W Taylor St, Chicago, IL 60607
      View Details
    • $29 SF/Yr

      Move-in Ready Logan Square Office

      2,400 SF therapy office with parking and high visibility.
      2754 W Fullerton Ave, Chicago, IL 60647
      View Details
    • $19 SF/Yr

      Lakeview Retail/Flex/Industrial Space Available

      3,125 SF space with high ceilings and drive-in doors.
      2311 W Belmont Ave, Chicago, IL 60618
      View Details
    • $40 SF/Yr

      Little Italy Corner Retail Space

      Corner retail space in Little Italy with high ceilings.
      1221 W Taylor St, Chicago, IL 60607
      View Details
    • $23 SF/Yr
      30,000 SF

      Humboldt Park Corner Retail Space

      1,710 SF retail space with 75' frontage.
      2900 W North Ave, Chicago, IL 60647
      View Details
    • $36 SF/Yr
      6,400 SF

      Fulton Market Fitness Space Available

      Second-generation retail space in Chicago's vibrant Fulton Market district.
      630 W Lake St, Chicago, IL 60661
      View Details
    • $30 SF/Yr
      1,280 SF

      Prime Retail Space in Little Italy

      Highly sought-after retail space with excellent exposure and convenient location.
      924 S Racine Ave, Chicago, IL 60642
      View Details
    • $40 SF/Yr
      2,616 SF

      Prime Restaurant Space in Little Italy

      Sought-after restaurant space with existing equipment in high-traffic location.
      1230 W Taylor St, Chicago, IL 60607
      View Details
    • $28 SF/Yr

      West Town Retail Space Available

      Retail space in redeveloped property with high ceilings and windows.
      1856 W Chicago Ave, Chicago, IL 60622
      View Details
    • $28 SF/Yr
      2,817 SF

      New Edgewater Retail Condo

      New construction retail condo with outdoor patio in high-traffic location.
      5691 N Ridge Ave, Chicago, IL 60660
      View Details

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    Scott R. Maesel, Chicago, IL
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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.

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    Scott R. Maesel, Chicago, IL
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