Entity Owned 
For Sale
1 / 17
$3,300,000
2323 N Milwaukee Ave, Chicago, IL 60647
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Property summary
AI-generated overview
This two-story 12,500 SF building is located in Logan Square along the Milwaukee Avenue commercial corridor and has approximately 50 feet of frontage on Milwaukee Avenue. The property was formerly occupied as a brewing facility and is configured with restaurant/brewery use in mind, featuring a 12-foot clear ceiling height, decorative ceilings, a visible brewing system area, and large storefront windows with direct street-facing openings. The second floor provides an expansive layout with a second bar and can support private gatherings and events. Building features include a drive-in door and a full-height basement with a walk-in cooler suitable for storage of beer tanks. The property has an occupancy of 299 and is positioned near I-90/94 and the California Blue Line station (approximately a short walk).
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1909
Total area
28,800 SF
Lot
0.14 ac (6,250 SF)
APN
13-36-103-017
UPID
US28-5246517
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Storage Facility
-
Bar & Pub Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.86M
Blend (final)
Blend
$3.04M
Owner & transaction history
since 2008
7 recorded transactions
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 9 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$3.04M
Value range
$2.73M – $3.34M
±10% around blend
Estimated value / SF
$105 / SF
Confidence
High
9 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
90
Income certainty
100
$2.73M
blend $3.04M
$3.34M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
28,800 SF
Lot area
0.14 ac
Year built
1909
Stories
3
APN
13-36-103-017
Assessed value
$328,125
Annual tax
$67,720
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$67,720
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$2.89M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.0 mi away · 20,300 SF
3.7 mi away · 23,200 SF
3.7 mi away · 25,400 SF
3.7 mi away · 25,400 SF
3.7 mi away · 27,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.04M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 64 sales
$299
-65%
Submarket 2181 sales
$146
-28%
County 2350 sales
$149
-29%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $105/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
5.24%
Selected cap rate for this retail space
Derived from the Chicago market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.24%
9.0%
NOI (est.)
$173k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.30M
Move the market yield to see immediate price impact.
Value / SF
$115
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.74%5.24%5.74%
$156k
$3.28M
$2.97M
$2.71M
$173k
$3.65M
$3.30M
$3.01M
$190k
$4.01M
$3.63M
$3.31M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$2.80M
2.8 mi · Nov 2025 · $99/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$67,720
Tax year 2022
Assessed value
$328,125
Assessed 2022
Previous assessed
$328,125
+0.0% YoY
Effective rate
20.64%
On assessed value
Assessed land
$31,250
Assessed improvement
$296,875
Land market value
$125,000
Improvement market value
$1,187,500
Total market value
$1,312,500
Applied tax rate
77,137.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Status
For Sale
Year built
1909
Heating
NONE
Stories
3
Total area
28,800 SF
Lot
0.14 ac (6,250 SF)
APN
13-36-103-017
UPID
US28-5246517
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
1909
Heating
NONE
Stories
3
Lot
0.14 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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