Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1029 Wolfram St Chicago, IL 60657-8836
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1029 Wolfram St Chicago, IL 60657-8836

    View on Map
    • Residential income homes
    • 3,138 SF
    • 0.07 lot acres
    Off-Market
    Last Sale Mar 14, 2024
    $1,100,000
    Property ID
    US28-5823957
    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
    $1,100,000
    Show details
    Cap Rate Potential
    4.8%
    Residential income homes
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 1029 Wolfram St

    Year built
    1885
    Construction
    FRAME
    Lot size
    0.07 lot acres
    Property size
    3,138 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    14-29-228-011
    APU
    1429228011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $870,000
      6.5%
      $805,000
      7%
      $745,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,154,000
      Market price range: $927k - $1.56M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,205,000
      Current use
      COMMERCIAL (GENERAL)
      $1,365,000
      Change: +13% Conversion: Moderate
      RETAIL STORES
      $1,025,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.655
    Latitude
    41.9333
    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
    $18,264
    $54,687
    $37,530
    $92,217
    -
    $546,870
    $375,300
    $922,170

    Comparable in this City

    • Value Estimation
      $725,000
      2,838 SF

      3036 Seminary Ave, Unit 10C

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,838 SF
      3036 Seminary Ave, Chicago, IL 60657-9195
      View Details
    • Value Estimation
      $850,000
      3,762 SF

      1022 Oakdale Ave, Unit 3

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,762 SF
      1022 Oakdale Ave, Chicago, IL 60657-7487
      View Details
    • Value Estimation
      $680,000
      2,928 SF

      726 Buckingham Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,928 SF
      726 Buckingham Pl, Chicago, IL 60657-2411
      View Details
    • Value Estimation
      $795,000
      3,539 SF

      866 Buckingham Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,539 SF
      866 Buckingham Pl, Chicago, IL 60657-6733
      View Details
    • Value Estimation
      $650,000
      2,638 SF

      1923 Eddy St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,638 SF
      1923 Eddy St, Chicago, IL 60657-1008
      View Details
    • Value Estimation
      $905,000
      3,537 SF

      1319 Eddy St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,537 SF
      1319 Eddy St, Chicago, IL 60657-1431
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Lakeview Mixed-Use Renovated Asset

      Renovated 8-unit mixed-use property in prime Lakeview location.
      3240 N Clark St, Chicago, IL 60657
      View Details
    • $975,000

      Lakeview Mixed-Use Building For Sale

      Mixed-use building with storefronts and apartments in central Lakeview.
      1150 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      9,025 SF

      Lakeview Mixed-Use Investment Opportunity

      Mixed-use property in prime Lakeview location with upside potential.
      1024 W Belmont Ave, Chicago, IL 60657
      View Details
    • $1,980,000

      Wrigleyville Mixed-Use Investment Opportunity

      Mixed-use property in Wrigleyville with business and apartments included.
      3472 N Clark St, Chicago, IL 60657
      View Details
    • $347,000

      Updated Condo with City Views

      Updated condo with city views, storage, and prime location.
      3420 N Lake Shore Dr, Chicago, IL 60657
      View Details
    • $1,849,000

      Roscoe Village Mixed-Use Building

      Renovated mixed-use building in Roscoe Village with income potential.
      1953 W Roscoe St, Chicago, IL 60657
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,225 SF

      Luxury Building Retail Space Available

      Retail space in new luxury building near Belmont station.
      925 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Retail Space on Lincoln Avenue

      Retail space available for lease on Lincoln Avenue.
      3145 N Lincoln Ave, Chicago, IL 60657
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Chicago, Illinois.
      Swc Ashland Ave & Wellington Ave, Chicago, IL 60657
      View Details
    • $18 SF/Yr

      Lincoln Avenue Retail Space Available

      1,200 sqft lower-level retail space in prime location.
      2816 N Lincoln Ave, Chicago, IL 60657
      View Details
    • $37 SF/Yr

      Prime Lakeview Retail/Office Space

      2,400 SF retail/office space in high-traffic Lakeview location.
      3316 N Halsted St, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,250 SF

      Retail Space Near Wrigley Field

      Retail space in a vibrant shopping and entertainment corridor.
      3501 N Southport Ave, Chicago, IL 60657
      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.
    1029 Wolfram St
    Chicago, IL 60657-8836
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!