Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1001 Laramie Ave Chicago, IL 60651
    Back to Search
    Property profile & analytics

    1001 Laramie Ave, Chicago, IL 60651

    View on Map
    • Garden apartment buildings
    • 0.14 lot acres
    Off-Market
    Property ID
    US28-2187838
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Union Freightways Carriers Ltd / Freight Service / Logistics Company
    • Grane Transportation Ind / Trucking Company
    • Grane Nationalease / Car Rental Facility

    Property Details for 1001 Laramie Ave

    Year built
    1915
    Lot size
    0.14 lot acres
    Property type
    Garden apartment buildings
    APN
    16-04-407-017
    APU
    1604407017

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 28, 2025 — Trust No 178 — Deed · related $3.8M · Wintrust Bank NA
    Apr 19, 2018 — Trust No 178 — Deed · related $2M · Mb Fin'l Bk
    Dec 19, 2014 $177,000 Lukasz Sochur Thomas,charlie & Sue Grant Deed —
    Jul 28, 2005 — Clifton Boens Edwards,eddie Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7553
    Latitude
    41.8988
    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
    $14,186
    $6,615
    $62,355
    $68,970
    -
    $66,150
    $623,550
    $689,700

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      3639 Thomas St, Unit 1FL

      GARDEN APT, COURT APT (5+ UNITS)
      3639 Thomas St, Chicago, IL 60651-3923
      View Details
    • Value Estimation by Request
      0.17 Acres

      1455 Central Ave

      GARDEN APT, COURT APT (5+ UNITS)
      1455 Central Ave, Chicago, IL 60651-1207
      View Details
    • Value Estimation by Request
      0.13 Acres

      4956 Augusta Blvd

      GARDEN APT, COURT APT (5+ UNITS)
      4956 Augusta Blvd, Chicago, IL 60651-3180
      View Details
    • Value Estimation by Request
      0.14 Acres

      5915 25th W Thomas

      GARDEN APT, COURT APT (5+ UNITS)
      5915 25th W Thomas, Chicago, IL 60651
      View Details
    • Value Estimation by Request
      0.14 Acres

      4248 Le Moyne St

      GARDEN APT, COURT APT (5+ UNITS)
      4248 Le Moyne St, Chicago, IL 60651-1878
      View Details
    • Value Estimation by Request
      0.11 Acres

      1235 Lockwood Ave

      GARDEN APT, COURT APT (5+ UNITS)
      1235 Lockwood Ave, Chicago, IL 60651
      View Details

    Similar Nearby for Sale

    • $999,999

      West Humboldt Park Multifamily Investment

      32-unit mixed-use building in need of repair.
      1015-1023 N Pulaski Rd, Chicago, IL 60651
      View Details
    • $948,000

      Residential Building in Quiet Location

      Well-maintained residential building with good rental income potential.
      855 N Lockwood Ave, Chicago, IL 60651
      View Details
    • $2,067,000

      24-Unit Multifamily in Austin Area

      Stabilized 24-unit multifamily property in Chicago's Austin neighborhood.
      1124 N Lawler Ave, Chicago, IL 60651
      View Details
    • $324,900

      Corner Building with Proposed Plans

      Three-unit building with plans for seven-unit apartment building.
      5256 W Chicago Ave, Chicago, IL 60651
      View Details
    • $948,000
      0.14 Acres

      Chicago Multifamily Income Property

      Multifamily property in Chicago with good rental income.
      855 N Lockwood Ave, Chicago, IL 60651
      View Details
    • $1,175,000

      Humboldt Park Multifamily Investment Opportunity

      Legal 5-unit building in Humboldt Park, Chicago. Excellent condition.
      3417 W Evergreen Ave, Chicago, IL 60651
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr

      Industrial Space with Flexible Zoning

      3,125 sq ft industrial/warehouse space for lease.
      1432 N Kilpatrick Ave, Chicago, IL 60651
      View Details
    • Contact for pricing
      17,500 SF

      Storage Building Near Midway Airport

      7500 SF storage building for lease near Midway Airport.
      3401 W Division St, Chicago, IL 60651
      View Details
    • Contact for pricing

      West Humboldt Park Retail Space

      High-visibility retail space in West Humboldt Park with flexible options.
      3801 W Division St, Chicago, IL 60651
      View Details
    • Contact for pricing
      2,383 SF

      Office Space Available for Lease

      Office space for lease with conference facilities and parking.
      1133 N Kilbourn Ave, Chicago, IL 60651
      View Details
    • $7,500 /Mo
      80,000 SF

      80,000 SF Land Available

      Land available for lease near Chicago Ave. and Pulaski Rd.
      4201 West Chicago Ave, Chicago, IL 60651
      View Details
    • $17 SF/Yr

      Move-In Ready Office Space

      Spacious 6,000 SF office space, convenient location, ample parking.
      3305 W Division St, Chicago, IL 60651
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1001 Laramie Ave
    Chicago, IL 60651
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1001 Laramie Ave, Chicago, IL, 60651
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!