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Property profile & analytics
OFF-MARKET
Estimated value
$1,350,000
Parking lots & garages
11001 123rd St, Palos Park, IL 60464-1525
Individually Owned
4-yr Hold
Free & Clear
Property ID
US28-4805814
Property profile
Verified
Property type
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Year built
2002
Total area
4,600 SF
Lot
2.5 ac (108,900 SF)
APN
23-29-300-037
UPID
US28-4805814
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.35M
Owner & transaction history
Patrick Donovan · 4 yrs held
Patrick Donovan
since 2022
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+80.4%
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 Palos Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palos Park 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
$1,405,000
ML approach
$1,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$1,095,000
Current use
COMMERCIAL (GENERAL)
$1,975,000
Change: +80% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,010,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±10% · vs last sale $1.30M (Jan 12 2022)
Last sale anchor
$1.30M
Jan 12 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
$293 / 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
$3,985
Tax year 2022
Assessed value
$13,241
Assessed 2022
Previous assessed
$13,241
+0.0% YoY
Effective rate
30.10%
On assessed value
Assessed land
$12,800
Assessed improvement
$441
Land market value
$128,000
Improvement market value
$4,410
Total market value
$132,410
Applied tax rate
30,011.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
12
Bathrooms
5
Total area
4,600 SF
Lot
2.5 ac (108,900 SF)
APN
23-29-300-037
UPID
US28-4805814
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
PARKING LOT Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
PARKING LOT Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
12
Bathrooms
5
Lot
2.5 ac
Current owner
From public records · entity-resolved
Patrick Donovan
Individual
Free & Clear · 4 yrs held
Mailing address
11001 W 123RD ST, PALOS PARK, IL 60464-1525
Mailing matches property
Yes
Owner-occupied
Yes
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2022
$1,300,000
Patrick Donovan
Robert E Hansen
Warranty Deed
—
Apr 13, 2017
—
Robert E Hansen
—
Grant Deed
related
$1,120,000 · Providence Bk&tr
Apr 17, 2006
—
Robert E Hansen
—
Trustees Deed
related
$1,210,000 · Nlsb Bank
Jun 28, 2005
—
Robert E Hansen
—
Trustees Deed
related
$1,060,000 · Nlsb Bank
Feb 8, 2005
$575,000
Robert E Hansen
Zimmerman Jerome W & E L
Grant Deed
$460,000 · Nlsb Bank
—
—
Robert E Hansen
—
Deed Of Trust
related
$1,200,000 · Old Plank Trail Cmnty Bk NA
—
—
Robert E Hansen
—
Deed Of Trust
related
$1,115,363 · Old Plank Trail Community Bank
—
—
Robert E Hansen
—
Deed Of Trust
related
$275,000 · Allegiance Community Bank
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.
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