Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1123 Washington Blvd Ste, Unit 1 Chicago, IL 60607-2057

    • Office Properties & Spaces
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2025
    $2,107,500
    Value Estimations
    $2,110,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1465217
    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.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 1123 Washington Blvd Ste

    Year built
    1901
    Lot size
    0.11 lot acres
    Property type
    Office Properties & Spaces
    APN
    17-08-444-031-1001
    APU
    17084440311001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6553
    Latitude
    41.8828
    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
    $44,156
    $17,479
    $196,474
    $213,953
    -
    $69,916
    $785,896
    $855,812

    Comparable in this City

    • Value Estimation by Request

      813 Randolph St Ste, Unit 300

      CONDOMINIUM OFFICES
      813 Randolph St Ste, Chicago, IL 60607-2342
      View Details
    • Value Estimation by Request
      0.96 Acres

      1400 Fulton St, Unit C

      CONDOMINIUM OFFICES • 0.96 Acres
      1400 Fulton St, Chicago, IL 60607-1110
      View Details
    • Value Estimation by Request

      15 Racine Ave Ste 1n

      CONDOMINIUM OFFICES
      15 Racine Ave Ste 1n, Chicago, IL 60607-2541
      View Details
    • Value Estimation by Request
      0.96 Acres

      1400 Fulton St

      CONDOMINIUM OFFICES • 0.96 Acres
      1400 Fulton St, Chicago, IL 60607-1110
      View Details
    • Value Estimation by Request
      0.23 Acres

      1150 54th W Fulton St

      CONDOMINIUM OFFICES • 0.23 Acres
      1150 54th W Fulton St, Chicago, IL 60607
      View Details
    • Value Estimation by Request
      0.17 Acres

      1046 Fulton Market

      CONDOMINIUM OFFICES • 0.17 Acres
      1046 Fulton Market, Chicago, IL 60607-1231
      View Details

    Similar Nearby for Sale

    • $385,000
      959 SF

      West Loop Storefront - Chicago

      Modern Retail/Office Space, West Loop
      1351-1355 Washington Blvd, Chicago, IL 60607
      View Details
    • $400,000
      1,150 SF

      West Loop Executive Office Suite

      Prime West Loop location, 100% occupied.
      15 Racine Ave, Chicago, IL 60607
      View Details
    • Contact for pricing

      Roosevelt Road Mixed-Use Portfolio

      Chicago Office & Retail Investment
      622 Roosevelt Rd, Chicago, IL 60607
      View Details
    • Contact for pricing
      36,729 SF

      West Loop Executive Office Building

      Prime Chicago location, 36,729 SF, high NOI.
      222 Morgan St, Chicago, IL 60607
      View Details
    • Contact for pricing
      2,000 SF

      Loft Office Space For Sale

      Renovated loft office space near Union Park and Fulton Market.
      1444 W Lake St, Chicago, IL 60607
      View Details
    • Contact for pricing
      850 SF

      West Loop Retail Unit

      Remodeled 850 SF retail unit near Morgan CTA stop.
      1118 W Fulton Market, Chicago, IL 60607
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      6,058 SF

      West Madison St Executive Suites

      Chicago Office Space: 3 Suites Available
      1140-1142 Madison St, Chicago, IL 60607
      View Details
    • $35 SF/Yr
      4,516 SF

      Roosevelt Road Executive Suites

      Prime South Loop Office Space Available
      568 Roosevelt Rd, Chicago, IL 60607
      View Details
    • Contact for pricing
      95,267 SF

      West Loop Executive Office Space

      6,116 SF, prime West Loop location
      322 Green St, Chicago, IL 60607
      View Details
    • Contact for pricing
      68,673 SF

      West Loop Executive Office Space

      Chicago Office: 3,105 SF Available
      833 Jackson Blvd, Chicago, IL 60607
      View Details
    • Contact for pricing
      25,800 SF

      Prime Chicago Executive Office Space

      25,800 SF, Single Tenant, Historic Charm
      820 Lake St, Chicago, IL 60607
      View Details
    • $36 SF/Yr
      6,280 SF

      Creative Loft Office Space

      Loft office with modern amenities and tenant-controlled air conditioning.
      820 W Jackson Blvd, Chicago, IL 60607
      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.
    1123 Washington Blvd Ste, Unit 1
    Chicago, IL 60607-2057
    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.