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Property profile & analytics
OFF-MARKET
Estimated value
$3,050,000
Motels
1101 Wabash Ave Chicago, IL 60605-2300
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US28-2447277
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1961
Total area
24,100 SF
Lot
0.31 ac (13,680 SF)
APN
17-15-309-001
UPID
US28-2447277
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
-
Shang Noodle Restaurant
-
Jerusalem gems inc (Bike/Boat/Book/etc) Store
-
Leiya Restaurant
-
Shang Noodle & Asian Small Plates South Loop Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.79M
Comparable Approach
Comparable
$2.91M
Blend (final)
Blend
$3.05M
Owner & transaction history
Wabash 11th LLC · 8 yrs held
Wabash 11th LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,020,000
6.5%
$2,790,000
7%
$2,590,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,150,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,145,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$3,510,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.05M
Range $2.75M – $3.36M · ±10%
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
$127 / 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
$1,179,297
Tax year 2022
Assessed value
$5,733,587
Assessed 2022
Previous assessed
$5,733,587
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$598,500
Assessed improvement
$5,135,087
Land market value
$2,394,000
Improvement market value
$20,540,348
Total market value
$22,934,348
Applied tax rate
76,098.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1961
Heating
NONE
Stories
2
Total area
24,100 SF
Lot
0.31 ac (13,680 SF)
APN
17-15-309-001
UPID
US28-2447277
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
HOTEL/MOTEL Current
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
RETAIL STORES
Est. value
$3.5M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1961
Heating
NONE
Stories
2
Lot
0.31 ac
Current owner
From public records · entity-resolved
Wabash 11th LLC
Entity
Mailing address
1101 S WABASH AVE, CHICAGO, IL 60605-2300
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2019
—
Wabash 11th LLC
—
Grant Deed
related
$146,737,500 · Acore Cap Mtg LP
Jan 14, 2019
—
Wabash 11th LLC
—
Deed
related
$90,000,000 · Access Pt Fin'l
Nov 19, 2018
—
Wabash 11th LLC
—
Deed
related
$90,000,000 · Access Pt Fin'l
Apr 16, 2018
—
Wabash 11th LLC
—
Deed
related
$90,000,000 · Access Pt Fin'l
Mar 29, 2018
—
Wabash 11th LLC
11th St Wabash LLC
Quit Claim Deed
related
—
Feb 20, 2018
—
11th St Wabash LLC
—
Trustees Deed
related
$15,000,000 · Access Pt Fin'l
Dec 1, 2005
—
11th St Wabash LLC
Pacific Tai LLC
Warranty Deed
$4,500,000 · New Century Bank
Oct 10, 1997
—
Tai Pacific
American Nationa
Grant Deed
$7,600,000 · Credit Suisse One Bo
—
—
11th St Wabash LLC
—
Deed Of Trust
related
$12,000,000 · International Bk/chicago
—
—
Wabash 11th LLC
—
Deed Of Trust
related
$90,000,000 · Access Pt Fin'l
—
—
11th St Wabash LLC
—
Deed Of Trust
related
$2,480,000 · Metropolitan Cap Bk & Tr
—
—
Wabash 11th LLC
—
Loan Modification
related
$90,000,000 · Access Pt Fin'l
—
—
Sb Yens Management Group INC
—
Deed Of Trust
related
$575,000 · Seagulls INC
—
—
Wabash 11th LLC
—
Deed Of Trust
related
$90,000,000 · Access Pt Fin'l
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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