Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,305,000
Retail space
1240 Chicago Ave 44 Evanston, IL 60202
Entity Owned
4-yr Hold
Free & Clear
Property ID
US28-0774364
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1885
Total area
1,906 SF
Lot
0.21 ac (9,020 SF)
APN
11-19-105-004
UPID
US28-0774364
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nahigian Brothers Rug Care Oriental Rug Store Carpet Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.31M
Owner & transaction history
1244 Chicago Avenue LLC · 4 yrs held
1244 Chicago Avenue LLC
since 2022
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$820,000
+188.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Evanston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evanston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,435,000
ML approach
$1,385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$820,000
Change: +188% · Conversion: Easy
Blend value · Realmo final
$1.31M
Range $1.17M – $1.44M · ±10% · vs last sale $1.20M (Feb 10 2022)
Last sale anchor
$1.20M
Feb 10 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$685 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$23,885
Tax year 2022
Assessed value
$100,549
Assessed 2022
Previous assessed
$99,000
+1.6% YoY
Effective rate
23.75%
On assessed value
Assessed land
$45,100
Assessed improvement
$55,449
Land market value
$180,400
Improvement market value
$221,796
Total market value
$402,196
Applied tax rate
17,041.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1885
Heating
NONE
Stories
2
Total area
1,906 SF
Lot
0.21 ac (9,020 SF)
APN
11-19-105-004
UPID
US28-0774364
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$820,000
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1885
Heating
NONE
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
1244 Chicago Avenue LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1244 CHICAGO AVE, EVANSTON, IL 60202-1338
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2022
$1,200,000
1244 Chicago Avenue LLC
Kentco Limited Partnership
Warranty Deed
—
Apr 12, 2018
—
Kentco LP
—
Grant Deed
related
$1,338,000 · Signature Bk
Jan 11, 2005
—
Kentco
Jpmorgan Chase Bank
Quit Claim Deed
related
—
Dec 3, 2004
—
Bank One NA
Minasian,armen S
Warranty Deed
related
—
Jan 13, 2004
—
Armen S Minasian
—
Deed Of Trust
related
$2,800,000 · Bank One NA
—
—
Armen Minasian
—
Deed Of Trust
related
$850,000 · American Nat'l Bk & Tr Chicago
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1240 Chicago Ave, Unit 44?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
